2015 CMS PDP Training Prescription drug coverage for Medicare beneficiaries can be confusing. Under different health care scenarios some drugs may be covered by Part A, Part B or Part D of Medicare. In addition, many Medicare beneficiaries may be unaware that they might qualify for extra help to pay for their medications. The Centers […]
One of the first options a Medicare beneficiary faces when they are reviewing Part D Prescription Drug plans (PDP) is whether they want a plan with a deductible. The deductible amount, set by Medicare, is the dollar amount a plan member must pay before he or she is eligible for the reduced copayment for the drugs. The big decision for the Medicare beneficiary is if they should select a PDP with a lower premium and $310 deductible or pay a higher monthly premium for a no deductible plan.
CMS cited numerous failures on the part of SmartD Rx to properly handle member’s prescription drug and enrollment transactions.
On January 15th, Medicare imposed an immediate sanction on SilverScripts Part D Prescription drug plans, available through CVS/Caremark, from marketing or selling any new drug plans because of massive failures to properly handle prescription drug claims of new members.
I have created a spreadsheet that is fairly simple to pop in premiums, monthly drug copay and any deductible to determine a yearly estimated cost of the plan. Perhaps the most daunting aspect is collecting the data. Each plan publishes a drug formulary that will list if the drug is covered, the tier, copay for each tier and any deductible.
Medicare Advantage Plans were paid $838 per month in Sacramento and $850 in Placer counties. Medicare is a great program that costs money.