A Quick Overview of the AARP Medicare Rx Plan
AARP is a Medicare approved organization you can trust. It offers three different drug plans for you to choose from. AARP designed these drug plans to provide prescription drugs to Medicare beneficiaries at lower costs. You can’t afford not to enroll if you are eligible. When the need arises for prescription drugs, you’ll have peace of mind knowing that a majority of your medication costs will be covered. Read below to learn more about this popular program.
What Can I Expect from an AARP Medicare Rx Plan?
When choosing an AARP Medicare Rx Plan, you can expect affordable and flat co-pays and three plan options (two have no annual deductibles). Drug coverage will include every brand name prescription drug or its generic brand that is covered by Medicare Part D with over 60,000 participating pharmacies.
What Medicare Rx Plans Does AARP Offer?
Three prescription drug plans will be offered in 2007. They are AARP Medicare Rx Plan, AARP Medicare Rx Plan – Enhanced, and AARP Medicare Rx Plan – Saver. Each plan may have one or more of the four tiers (co-pay/co-insurance coverage levels) offered for you to choose from.
Description of Tiers and Co-Pay
- Tier 1 – This has the lowest co-pay and includes most generic drugs.
- Tier 2 – This has the medium co-pay and includes preferred brand name drugs.
- Tier 3 – This has higher co-pay and includes non-preferred drugs.
- Specialty Tier – This is the highest cost co-insurance.
Each of the three plan options is unique. Listed below are the items covered by each plan.
AARP Medicare Rx Plan
- Includes 100% of the drugs covered by Medicare Part D
- Mid-priced premium
- Flat and simple co-pays
- No deductible
- Over 60,000 participating network pharmacies
AARP Medicare Rx Plan – Enhanced
- Includes 100% of the drugs covered by Medicare Part D
- Tier 1 generic drug coverage (w/in coverage gap)
- Bonus drug list (drugs not covered by Medicare Part D)
- Flat and simple co-pays
- No deductible
- Over 60,000 participating network pharmacies
AARP Medicare Rx Plan – Saver
- Low monthly premiums
- Low co-pays
- Annual deductible ($265)
- Includes 100% of the drugs covered by Medicare Part D
How Difficult Is It to Fill a Prescription?
With over 60,000 participating network pharmacies, you should be able to get a prescription filled just about anywhere you go. You also have the convenience of ordering your prescriptions by mail. By using the mail service, you will save on prescription costs, have free shipping, and avoid long lines or waiting times.
AARP Medicare Rx Plan Enrollment Information
Open enrollment is between November 15th and December 31st of each year.
You will need to compare plans to see which will meet your individual needs. If you are currently an AARP Medicare Plan beneficiary, your membership will be renewed automatically; however, you may use the open enrollment period to make any needed changes to your plan.
How Do I Prepare for Enrollment?
First, you need to check to see if you qualify for financial assistance. Based on your income and resources, you may be eligible for assistance to help offset or completely pay additional out-of pocket expenses (costs not covered by your insurance plan). Pre-planning is important, and it may take up to eight weeks for financial assistance to be processed and approved. Don’t delay. You don’t want to miss the enrollment period (Nov 15 – Dec 31).
Next, you will need to gather all your information on health care or drug coverage you may have. You will also need to make a complete list of the names, dosage, and refill information for any prescription drugs you currently take. This information will help you to compare plans and make the best choice.
The final step is to compare several Medicare Part D Plans in your area. There are several things you should consider in order to accurately compare plans. You will need to find out what the monthly premiums are, and if there is a deductible. Also, ask the following questions: What is the company’s reputation? What drugs are covered? Is there a co-pay amount?
Once you have completed these steps, it is time to select the option that will provide you with the coverage you require, and enroll in the plan you have chosen. With the costs of prescription drugs on the rise, this program can help you get the medications you need when you need them.
