Transitioning to Medicare Part D We’re here to help
- To learn more about which Medicare Part D plans have the Medco Pharmacy in their network, call a Medco Pharmacy Advisor at 1-866-749-0096 from 8:00 a.m. to
7:00 p.m., Monday through Sunday, except Thanksgiving and Christmas. Customer Service is available in English and other languages. TTY/TDD users should
call 1-800-716-3231 - Or contact Medicare at 1-800-MEDICARE (1-800-633-4227), 24 hours a day, 7 days a week. TTY/TDD users should call 1-877-486-2048. You can also visit www.medicare.gov for more information about general Medicare benefits and services, including information regarding the medical or prescription drug benefit.
Ways to Save | Transitioning to Medicare Part D
Medicare Part D
Answers to commonly asked questions
Making the transition to a Medicare Part D prescription drug plan can be easy when you know
what to look for in a plan and how to get the most value for your Medicare dollar. Here are simple
answers to some of the questions you may have about Medicare Part D to help you make an informed decision.
Q: What is Medicare Part D?
A: Medicare prescription drug coverage is insurance that covers both brand-name and generic drugs at participating pharmacies. Everyone with Medicare is eligible for this coverage. Even if you don’t take a lot of medications, it’s a good idea to join a Part D plan to protect against high drug costs in the future.
Q: Do all plans cover all medications?A: Each plan covers a list of medications (called a formulary) which includes brand-name and generic drugs. Before you choose a plan, make sure the formulary includes the drugs you take now or lower-cost alternatives.
Q: Should I choose a plan based on the lowest premium?A: Be sure to consider the full cost of a plan, including the annual costs for all your medications in addition to the monthly premium, to determine the plan that provides the best value for you.
Q: What do I need to know about the Coverage Gap?A: The Coverage Gap, also known as the ”Donut Hole,” begins when your total drug costs (the amount that both you and your plan pay) reach $2,930. Once you reach the Coverage Gap, you are responsible for paying additional out-of-pocket costs for your medications. Under the standard 2012 Medicare benefit, you will pay 50% of covered brand drug costs** and 86% of generic drug costs while in the gap. You will continue to pay these amounts until your out-of-pocket costs reach $4,700.
Q: How can I lower my monthly drug costs to delay reaching the Coverage Gap?A: You can lower your costs by using generic drugs whenever possible. Also, look for a plan that offers even greater savings when you use mail-order service and generic drugs.
Q: What are Medicare plan ratings?A: Each year, Medicare rates how well plans perform in different categories, such as member satisfaction. Star ratings range from 1 star (poor) to 5 stars (excellent). Look for a plan with
above-average ratings to ensure you get the level of service and safety you deserve.
A: There are some plans, including Medicare options offered by Medco, that will give you continuous access to the Medco Pharmacy. Whether you are making a choice on your own, or using a service to help you choose a plan, remember to enroll in a prescription drug plan with the Medco Pharmacy in its network. That way, you’ll continue to have access to your mail-order service for the medications you rely on.
**Available from manufacturers who agreed to pay a 50% discount on the negotiated price, excluding the dispensing and vaccine administration fees.
