AR Blue Cross - Medi-Pak Rx Basic, AR 2013 PDP

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Summary Rating:This Medicare drug plan has an average rating of 3.0
Premium:
$31.40
Deductible:$325.00
Initial Coverage Limit:$2,970.00
Mail Order:Yes
Gap Coverage:No Gap Coverage
$0 Premium LIS Benefit:Yes
Drugs in Formulary:2837
Drug Plan ID:S5795-003
Plan Year:2013
CMS Approved for:AR Residents
Plan Type:Regional
Members in Region:25946

PDP Plan Highlights

Active Arkansas Senior, Medicare Part D Plan: AR Blue Cross - Medi-Pak Rx Basic (PDP) S5795-003AR AR Blue Cross - Medi-Pak Rx Basic (PDP) is a Medicare prescription drug plan underwritten by Arkansas Blue Cross And Blue Shield for eligible residents of Arkansas. The plan is approved by CMS for drug formulary 00012061, which has 2837 FDA approved medications. The monthly premium is $31.40 ($376.80 for a full 12 months) and the pharmacy deductible is $325.00 per year. The highest deductible allowed by CMS for 2013 is $325.

Arkansas seniors, be aware that a few different circumstances may decrease or increase your actual premium. Specifically, if you qualify for Extra Help (full or partial), your premium will decrease. On the other hand, if you have a premium penalty, your premium will be slightly more.

AR Blue Cross - Medi-Pak Rx Basic Initial Coverage Phase

The Initial Coverage Phase (ICP) is your plan’s cost-sharing phase. During the ICP both you and your insurance provider share the cost of your prescription medications. This plan has a deductible, so your ICP does not start until the deductible has been paid.

Each medication is put into a tier within the plan’s formulary. This is simply a way for the insurer to manage cost-sharing. It’s important to note that every plan can put medications on any tier they deem suitable. This is not standardized, because it is based on cost and the various risk models used by the insurers.

The tiered prescription cost sharing (e.g., pharmacy co-pay) in Arkansas with this plan is as follows:

Tier  Co-Pay AmountMedications in Tier
1$6.001786 Preferred Generics
2$45.00712 Non-Preferred Generics
3$84.0096 Preferred Brand Drugs
425%243 Non-Preferred Brand Drugs
50 Specialty Drugs

The 2012 Initial Coverage Limit with AR Blue Cross - Medi-Pak Rx Basic is $2,970.00. This drug plan qualifies for the full LIS benefit and a zero dollar monthly premium.

Coverage Gap Phase

The Coverage Gap, also known as the Donut Hole is the phase of your Part D plan where you must pay all of your medication costs. Healthcare Reform offers some additional assistance. For 2012 your insurance carrier will pay 7% of your generic drug prescription costs for you while you are in the donut hole. Likewise, the brand-name drug pharmaceutical companies cover half (50%) of your brand-name drug prescription costs. These subsidies count toward your True Out of Pocket (TrOOP) costs.

Some Medicare Part D plans provide additional Coverage Gap assistance that covers you above and beyond the discounts mandated by the Healthcare Reform Act. It’s important to note that if you have prescriptions that are not covered under your plan’s Gap Coverage, you will still get the generic and brand name drug discounts listed above, even if the plan itself does not offer gap coverage.

Here's how the carrier defines the 'donut hole' gap coverage for this policy: You must pay the $3727.50.

Plan Members

The number of Medicare recipients using the AR Blue Cross - Medi-Pak Rx Basic plan nationally is 25,946. In your area (CMS PDP region 19) there are a reported 25,946 seniors on this plan. That's based on the previous year's reporting information.

Facts About Arkansas Blue Cross And Blue Shield

Founded in 1948, Arkansas Blue Cross and Blue Shield, an Independent Licensee of the Blue Cross and Blue Shield Association, is the largest health insurer in Arkansas. Arkansas Blue Cross and its family of affiliated companies have approximately 2,870 employees. Arkansas Blue Cross differs from commercial insurers in several ways. Arkansas Blue Cross is a not-for-profit mutual insurance company. As a not-for-profit, mutual insurance company, Arkansas Blue Cross is owned by its policyholders, not by stockholders. This means that premium dollars are used solely to pay claims and administrative costs, not to pay stock dividends. Any excess funds are held in reserve for payment of future claims.

The main office of Arkansas Blue Cross is located at 601 S. Gaines Street in downtown Little Rock. Arkansas Blue Cross operates full-service regional offices serving seven designated geographic areas of the state. The Regional Offices, headquartered in Fayetteville, Fort Smith, Hot Springs, Little Rock, Jonesboro, Pine Bluff and Texarkana, offer sales, customer service, medical management and provider relations services to counties in their parts of the state.

Essential Information About Medicare Part D

Drugstore arrangements are unique with every prescription drug plan. Certain plans have stringent geographic limitations, that include state borders, while others provide national drugstore coverage. If you have an active personal life which often consists of frequent traveling, it will benefit you to possess a policy that enables you to use pharmacies in all states.

Medicare Part D plans have got a designated service area. It's the area in which the provider operates. To sign up, you have to live in the plan’s services area. Bear in mind that many providers provide mail-order support. This way you can have your pharmaceuticals mailed straight to your residence. Your agent can assist you to look for a plan that suits what you need, so don’t be reluctant to call and ask.

Each and every medical insurance provider establishes their own prices. Monthly premiums pertaining to approved drug plans can vary widely, even for comparable coverage, therefore it will pay you to shop before you choose.

Insurance providers announce new rates as well as other premium information each October. Do not forget to take a look at and evaluate rates annually prior to open enrollment.

Be aware that unless you register for a Medicare Part D insurance policy when you are eligible, your long term rates will be higher. This late entry penalty is established by Medicare, not the insurance plan companies. Each month you delay following eligibility you'll pay an additional 1% per month permanently.