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Medicare Part D
 » 
Vermont

24 Best Medicare Part D Plans in Vermont for 2023

We found the 24 best Medicare Part D Plans in Vermont for 2023.

Key Facts

  1. The average premiumA premium is an amount that an insurance policyholder must pay for coverage. Premiums are typically paid on a monthly basis. In the federal Medicare program, there are four different types of premiums.  is $50.26 per month, however the lowest premium is just $6.80.
  2. The average drug plan deductibleA deductible is an amount a beneficiary must pay for their health care expenses before the health insurance policy begins to pay its share. is $389 per year, but 4 plans have a zero-dollar deductible.
  3. Medicare rated 0% of all plans available in Vermont 4 stars or higher.
  4. There are 9 basic benefit plans and 15 enhanced benefit plans.
  5. A total of 6 plans offer full low-income subsidySocial Security's Low-Income Subsidy (LIS) program helps Medicare beneficiaries pay for their Medicare Part D prescription drugs by paying some of the costs. Also known as "Extra Help", beneficiaries who qualify for LIS receive premium... (LIS) for those who qualify.
  6. There are 5 plans that have additional coverage in the coverage gap phase (aka, "donut hole").

We also ranked the best Medicare Advantage plans with Part D in Vermont for 2023.

Vermont Medicare Part D Plans

Medicare Part D Plans available in Vermont for 2023
Plan Name Premium Deductible Benefit Type LIS Gap
Coverage
Senior
Savings
Rating
AARP MedicareRx Preferred $111.10 $0 Enhanced No Yes Yes
☆☆☆☆☆
AARP MedicareRx Saver Plus $33.20 $505 Basic Yes No No
☆☆☆☆☆
AARP MedicareRx Walgreens $31.90 $350 Enhanced No No No
☆☆☆☆☆
Blue MedicareRx Premier $126.60 $0 Enhanced No Yes No
☆☆☆☆☆
Blue MedicareRx Value Plus $42.40 $505 Basic No No No
☆☆☆☆☆
Cigna Extra Rx $62.70 $100 Enhanced No Yes Yes
☆☆☆☆☆
Cigna Saver Rx $12.40 $505 Enhanced No No No
☆☆☆☆☆
Cigna Secure Rx $34.50 $505 Basic Yes No No
☆☆☆☆☆
Clear Spring Health Premier Rx $18.60 $505 Enhanced No No No
☆☆☆☆☆
Clear Spring Health Value Rx $28.70 $505 Basic Yes No No
☆☆☆☆☆
Elixir RxPlus $66.20 $505 Enhanced No No No
☆☆☆☆☆
Elixir RxSecure $45.30 $505 Basic No No No
☆☆☆☆☆
Humana Basic Rx Plan $36.00 $505 Basic Yes No No
☆☆☆☆☆
Humana Premier Rx Plan $82.60 $300 Enhanced No Yes Yes
☆☆☆☆☆
Humana Walmart Value Rx Plan $34.10 $505 Enhanced No No No
☆☆☆☆☆
Mutual of Omaha Rx Essential $20.40 $505 Enhanced No No No
☆☆☆☆☆
Mutual of Omaha Rx Plus $95.60 $505 Basic No No No
☆☆☆☆☆
Mutual of Omaha Rx Premier $94.20 $505 Enhanced No No Yes
☆☆☆☆☆
SilverScript Choice $35.30 $505 Basic Yes No No
☆☆☆☆☆
SilverScript Plus $72.70 $0 Enhanced No Yes No
☆☆☆☆☆
SilverScript SmartSaver $6.80 $505 Enhanced No No No
☆☆☆☆☆
Wellcare Classic $35.00 $505 Basic Yes No No
☆☆☆☆☆
Wellcare Medicare Rx Value Plus $71.30 $0 Enhanced No No No
☆☆☆☆☆
Wellcare Value Script $8.60 $505 Enhanced No No Yes
☆☆☆☆☆
If you qualify for Medicare but don't know where to begin, we have licensed agents[1] at 1-855-728-0510 (TTY 711) who can answer your questions and help you get enrolled. There's no obligation.

Vermont Medicare Part D Plans Have Four Phases

Part D prescription drug plans help Vermont's Medicare beneficiaries pay for their prescriptions. If you're new to Medicare, you may not be familiar with how Medicare Part D out-of-pocket costsOut-of-Pocket Costs for Medicare are the remaining costs that are not covered by the beneficiary's health insurance plan. These costs can come from the beneficiary's monthly premiums, deductibles, coinsurance, and copayments. work. So, let's start with the four cost-sharing phases.

The Deductible is the First Phase

Prior to a plan paying any of your prescription costs, you are required to pay the annual deductible. So, if you enroll in a 2023 plan with a $400 deductible, you'll spend $400 out-of-pocket before coverage begins. Most Medicare Part D plans have a deductible, but some plans exclude Tier 1 (generics), offering immediate coverage on low-cost medications.

NOTE: $505 is the maximum deductible a plan can have in 2023.

Phase 2 is the Initial Coverage Limit

For 2023, the Part D Initial Coverage Limit (ICL) is $4,660. Your Part D plan will pay the bulk of your prescription cost during the ICL phase. If your costs exceed $4,660, then you will be in the coverage gap phase (aka "doughnut hole")

Phase 3 is the Coverage Gap

After your gross drug costs have reached $4,660, you will enter the Coverage GapA period of time in which you pay higher cost-sharing for prescription drugs until you spend enough to qualify for catastrophic coverage. phase. This is where you will pay 25% of your medication's retail cost. While the price of generic drugsA generic drug is a prescription medication that has the same active ingredient formula as a brand-name drug. Generic drugs usually cost less than brand-name drugs. might not be much different, what you pay for brand-name drugs will be higher (because you're paying 25% of the full price). This will continue until you reach $7,400 in True Out Of Pocket Costs (TrOOP).

Some plans offer additional gap coverage, so look for it on the plan information pages.

Phase 4 is Catastrophic Coverage

Once you've spent $7,400 out-of-pocket you are out of the coverage gap phase and will receive catastrophic coverage. This happens automatically and ensures that you only pay a small amount for all covered drugs for the remainder of the year.

The out-of-pocket costs that help you get catastrophic coverage include:

  1. Your plan's deductible;
  2. What you paid during the initial coverage limitOnce you have met your yearly deductible, you will pay a copayment or coinsurance for each covered drug until you reach the initial coverage limit. You will then enter your plan’s coverage gap (aka, “donut... period;
  3. Most of the full cost of brand-name drugs (and the manufacturer’s discount) purchased in the coverage gap;
  4. The amount paid by others, including family members, most charities, and other persons on your behalf; and
  5. The amount paid by State Pharmaceutical Assistance Programs (SPAPs), AIDS Drug Assistance Programs, and the Indian Health Service.

Choose Your Part D Plan Wisely

Evaluate Part D Medicare plans wisely. If you have a regular prescription or two, we suggest that you verify that the plan you want offers your medication(s) at a good price. You find this information in the formularyA formulary is a list of prescription drugs covered by a prescription drug plan or another insurance plan offering prescription drug benefits. Medications not on a plan's formulary are generally not covered.. We post links to the formulary and pharmacy web pages, as well as the plan's phone number, on each of the PDP pages listed above.

CRITICAL: The best Medicare Part D Plans for you can only be determined by factoring in what you can afford, your regular prescriptions, and your health. A bit of time spent on research will pay off in the long run.

Get Your Prescriptions and More with a Medicare Advantage Plan

Medicare realizes that one type of plan does not suit everyone. That's why there are two ways to get help with your prescription drug costs. All of the Medicare prescription drug plansMedicare Part D plans are an option Medicare beneficiaries can use to get prescription drug coverage. Part D plans provide cost-sharing on covered medications in four different phases: deductible, initial coverage, coverage gap, and catastrophic. Each... available in Vermont work with Original MedicareOriginal Medicare is private fee-for-service health insurance for people on Medicare. It has two parts. Part A is hospital coverage. Part B is medical coverage.. That's one way to get coverage. But maybe you'd like even more benefits. That's where Vermont Medicare Advantage Plans come in. Most offer Part D coverage.

Medicare Part D and Medicare Supplements Work Together

Medicare does not pay for all of your hospitalization and medical bills. In fact, Original Medicare only covers about 80 percent of your major medical costs. We keep an up-to-date directory of Vermont Medigap Plans, also called Medicare SupplementsMedicare Supplements are additional insurance policies that Medicare beneficiaries can purchase to cover the gaps in their Original Medicare (Medicare Part A and Medicare Part B) health insurance coverage., with the tools you need to find the best price and coverage. Medicare Part D plans are fully compatible with Vermont Medigap plans.

Medicare Part D for Dual Eligible People in Vermont

In Vermont, if you are eligible for both Medicare and Medicaid (aka, "dual eligible" or "Medi-Medi") you will automatically be enrolled in a Vermont Medicare Prescription Drug Plan and the Social Security Extra Help program. Extra Help pays for most of the costs of your prescriptions if you meet the eligibility requirements. You may also enroll in a plan of your own choosing that better meets your needs. If you qualified for MedicaidMedicaid is a public health insurance program that provides health care coverage to low-income families and individuals in the United States. before you were eligible for Medicare, contact your local Medicaid office.

Citations & References

  1. Medicare.gov, "How Medicare Prescription Drug Coverage Works with a Medicare Advantage Plan or Medicare Cost Plan", Last Accessed September 28, 2022
  2. Benefits.gov, "Medicare Prescription Drug Plans", Last Accessed September 1, 2022
  3. Medicare.gov, "Medicare costs at a glance", Last Accessed September 11, 2022
  4. Medicare.gov, "What's Medicare Supplement Insurance (Medigap)?", Last Accessed June 7, 2022
  5. SSA.gov, "Extra Help with Medicare Prescription Drug Plan Costs", Last Accessed June 1, 2022
  6. CMS.gov, "Landscape Source Files", Last Accessed January 15, 2023
  7. CMS.gov, "Medicare Part C & D Performance", Last Accessed January 15, 2023

This Medicare Part D plan state information page was last updated on January 19, 2023.

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