AR Blue Cross - Medi-Pak Rx Basic, AR 2013 PDP
|Initial Coverage Limit:||$2,970.00|
|Gap Coverage:||No Gap Coverage|
|$0 Premium LIS Benefit:||Yes|
|Drugs in Formulary:||2837|
|Drug Plan ID:||S5795-003|
|CMS Approved for:||AR Residents|
|Members in Region:||25946|
PDP Plan Highlights
AR 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 Amount||Medications in Tier|
|1||$6.00||1786 Preferred Generics|
|2||$45.00||712 Non-Preferred Generics|
|3||$84.00||96 Preferred Brand Drugs|
|4||25%||243 Non-Preferred Brand Drugs|
|5||0 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.
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
Pharmacist contracts will vary with each drug plan. Some plans contain stringent regional limitations, such as state borders, while others provide national drugstore coverage. For those who have an active personal life which includes frequent traveling, it's going to help you to have a policy that allows you to utilize pharmacies in all states.
Medicare Part D plans have a specified service area. This is the area in which the provider operates. To sign up, you must live in the plan’s provider area. Be aware that many carriers provide mail-order solutions. Therefore you can have your medications sent straight to your house. Your agent can assist you to find a plan that suits your requirements, so don’t hesitate to call and inquire.
Each healthcare insurance supplier sets its own prices. Prices pertaining to approved drug plans can vary quite a bit, even to get identical coverage, as a result it pays to look prior to choosing.
Insurance carriers publicize new rates as well as other premium particulars each October. You'll want to check and compare premiums annually just before open enrollment.
Be aware that if you do not register for a Medicare Part D policy once you first are eligible, your future rates will probably be higher. This late entry penalty is set by Medicare, not the insurance plan companies. Every month you wait subsequent to eligibility you'll pay an extra 1% every month permanently.