The Medicare Part D
Enrollment in a Medicare Part D plan allows you the ability to purchase your prescription drugs at a pharmacy. Beneficiaries commonly refer to this coverage as their “Drug Plan”. You will have several choices to select from for your Medicare Part D coverage.
Each prescription plan has a list of medications that they cover. This list of covered prescriptions are commonly known as formulary lists. Medications on a plan’s formulary list are rated and placed in a tiered type system.
Each company will assign a number to each covered medication. For the most part, the lower the number, the cheaper the medication. Most plans have a rating system from tier 1 to tier 5. A few plans have a six tier system.
Medication can be classified/rated differently by Medicare Part D drug plans. Crestor is a medication prescribed for high cholesterol This medication may be rated a tier 2 prescription by a Plan’s formulary, but it may be considered a tier 1 on another Plan’s formulary.
The Medicare Part D drug plan that rated Crestor as a tier 2 prescription drug would cost more than the Medicare Part D drug plan that rated Crestor as a tier 1 prescription.
Assisting Our Clients
We have extensive experience with helping our clients select the appropriate Medicare Part D drug plan. Our goal is to assist all clients with finding the drug plan that covers their medications under a lower tier in order for the medications to be more affordable.
If you have any questions concerning your current prescription drug coverage, please give us a call at 1-877-756-9005. Also, be sure to check the overview of Medicare by clicking HERE. If you prefer to view a holistic side-by-side Medigap plan overview head over to Medicare site by clicking HERE!