WellCare Classic, KY 2013 PDP

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Summary Rating:This Medicare drug plan has an average rating of 3.5
Initial Coverage Limit:$2,970.00
Mail Order:Yes
Gap Coverage:No Gap Coverage
$0 Premium LIS Benefit:No
Drugs in Formulary:2506
Drug Plan ID:S5967-152
Plan Year:2013
CMS Approved for:KY Residents
Plan Type:Regional
Members in Region:19119

PDP Plan Highlights

Active Kentucky Senior, Medicare Part D Plan: WellCare Classic (PDP) S5967-152KY WellCare Classic (PDP) is a Medicare prescription drug plan underwritten by WellCare for eligible residents of Kentucky. The plan is approved by CMS for drug formulary 00012170, which has 2506 FDA approved medications. The monthly premium is $39.50 ($474.00 for a full 12 months) and the pharmacy deductible is $0.00 per year. That means you receive prescription coverage assistance on day one (first dollar coverage).

Kentucky 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.

WellCare Classic 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 no deductible so your initial coverage phase begins immediately.

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 Kentucky with this plan is as follows:

Tier  Co-Pay AmountMedications in Tier
1$0.00785 Preferred Generics
2$43.00954 Non-Preferred Generics
3$95.00543 Preferred Brand Drugs
425%224 Non-Preferred Brand Drugs
50 Specialty Drugs

The 2012 Initial Coverage Limit with WellCare Classic is $2,970.00. This drug plan doesn't qualify for a no cost LIS 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 WellCare Classic plan nationally is 684,426. In your area (CMS PDP region 15) there are a reported 19,119 seniors on this plan. That's based on the previous year's reporting information.

Facts About WellCare

WellCare Health Plans, Inc. provides managed care services targeted to government-sponsored health care programs, focusing on Medicaid and Medicare. Headquartered in Tampa, Florida, WellCare offers a variety of health plans for families; children; and the aged, blind and disabled; as well as prescription drug plans. The company served approximately 2.4 million members nationwide as of June 30, 2011.

Essential Information About Medicare Part D

Pharmacy contracts will vary with every drug plan. Some programs contain strict regional limitations, that include state boundaries, while some provide nationwide pharmacy coverage. For those who have an active personal life that consists of frequent traveling, it will assist you to possess a policy that allows you to utilize drug stores in all states.

Medicare Part D plans have a specified service area. This is the area in which the provider operates. To enroll, you must reside in the plan’s services area. Be aware that nearly all carriers provide mail-order services. In this way you could have your pharmaceuticals shipped straight to your house. Your agent can assist you to look for a plan that suits what you need, so don’t be reluctant to simply call and inquire.

Each healthcare insurance provider sets their own rates. Monthly premiums for approved drug plans vary quite a bit, even for equivalent coverage, therefore it will pay you to shop prior to choosing.

Insurance companies announce new prices as well as other premium information each October. You'll want to take a look at and evaluate rates annually prior to open enrollment.

Be aware that if you don't sign up for a Medicare Part D policy when you are eligible, your future monthly premiums could be higher. This late entry penalty is established by Medicare, not the insurance suppliers. Each month you wait after eligibility you'll pay an additional 1% per month forever.