Did you know that what may be considered approved AARP prescription drugs for one plan may not be approved for another? The AARP formulary can also be different depending on which State you live in.
Many people assume that an AARP Medicare Rx plan will include the same prescription drugs no matter where you live.
The secret about the AARP formulary
When insurance companies that offer Medicare Part D Plans enter into an agreement with The Centers for Medicare and Medicaid Services to participate in the Part D program they do so on a State-by-State basis.
Medicare Rx Plans from the same company often have different formularies for the States where their plans are offered. The formulary is the list of covered medications within a given plan.
AARP prescription drug plans can vary form State-to-State in the following ways:
- Drug may be included in one State and not another
- The drug tier may be different from State-to-State
- Copay or coinsurance amount may also vary
In addition to this State variation you also need to be aware that the AARP formulary will also effect which AARP prescription drugs are included in plans available in the same State. The difference between AARP MedicareRx Preferred PDP and AARP MedicareRx Enhanced PDP for example, is not only the premiums and the copayment amounts.
The Part D formularies for these plans are very different and you should do your homework to determine which will include the AARP prescription medications that you require.
Here are some common mistakes to avoid:
- Assuming that a drug is covered because it is for someone else
- Choosing the lowest premium to save money
- Assuming that the Enhanced plan must be the best plan for you because it includes more drugs
Resource for choosing the best AARP Medicare prescription drug plan
When comparing Part D plans the formulary is by far the most important document to review. Formularies are printed in booklet form but Medicare Part D formularies can change even after the plans effective date.
Part D providers are able to add or remove drugs from their Medicare drug plan formularies. In order to have the most up to date formulary it is essential that you visit the plan’s website and find the formulary for the plan you are interested in and for the State where you live.
AARP Medicare Rx plans are underwritten by United Health Care. They are currently the largest provider of Part D Plans nationally. Plans are competitive and the AARP formularies generally include a wide range or AARP prescription drugs.