WellCare Classic, KY 2013 PDP

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Summary Rating:This Medicare drug plan has an average rating of 3.5
Premium:
$39.50
Deductible:$0.00
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

Drugstore arrangements are unique with every prescription drug program. Many plans have strict regional limitations, including state borders, while others give nationwide coverage. Should you have an active lifestyle which often includes regular traveling, it's going to assist you to possess a policy that permits you to utilize drug stores in all states.

Medicare Part D plans have got a designated service area. This is the area in which the provider operates. To sign up, you have to reside in the plan’s services area. Bear in mind that nearly all carriers offer mail-order services. In this way you could have your prescription medications sent straight to your house. Your advisor can help you find a program that meets your needs, so don’t be reluctant to call and inquire.

Each and every health insurance provider sets their own rates. Monthly premiums pertaining to health professional prescribed drug plans can vary quite a bit, even for comparable coverage, therefore it will pay you to look before you purchase.

Insurance companies publicize new prices and other premium particulars each October. Do not forget to check and evaluate rates every year in advance of open enrollment.

Be aware that if you don't sign up for a Medicare Part D insurance policy as soon as you are eligible, your future rates could be higher. This late entry penalty is set by Medicare, not the insurance plan suppliers. Each month you delay subsequent to eligibility you'll pay an extra 1% every month forever.