Depending on where you live, you probably have about 30 Part D plans available from which to choose. The Aetna cvs/pharmacy prescription drug plan is one option.
All plans have some things in common such as the initial coverage limit, when you reach the donut hole and benefits for catastrophic coverage. These parameters are known as the Standard Benefit Model.
But there are major differences in Part D plans as well. The monthly premium, co-payment or coinsurance amounts, the deductible and the drugs included in the plan’s formulary can all be different.
The following is an an overview of the Aetna CVS Part D plan and some insight as to who may be able to benefit from this Medicare drug plan.
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Aetna CVS Part D benefits
In the past couple of years insurance companies offering Part D plans have teemed up with retail pharmacies to create a stronger brand and leverage the pharmacies loyal customer base.
This has been a successful strategy for companies such as Humana offering the Humana Walmart Preferred Rx plan.
Aetna is hoping to capitalize on this trend while offering what they believe will be a quality plan that can capture a credible share of the Part D market.
- $31.50 average monthly premium
- $2 co-pay on 30 day supply of preferred generics
- $5 co-pay on 30 day supply of non-preferred generics
- $325 annual deductible
- Co-pays higher at non-preferred network pharmacies
- Members receive the CVS ExtraCare Health Card saving them 20% on CVS brands
- Rated as 3.5 Stars on the Medicare website
Overall the Atena CVS Part D plan seems to fall in line with other plans offering a basic formulary. The monthly premium is reasonable and if you use CVS pharmacies you can save on cost sharing amounts.
At $325 the deductible is the maximum allowed but that is common with plans with a basic formulary. Also, don’t expect to have any extra gap coverage other than what is mandated by law.
If you require gap coverage or find that the Aetna CVS Formulary doesn’t cover all your drugs you might consider the Aetna Medicare Rx Premiere plan which offers an enhanced formulary and some extra gap coverage.
Who this plan is for
If you have a modest budget and find all of your drugs included in the plan formulary the Aetna CVS Part D plan may be a good plan for you.
Once you get past the annual deductible the co-payment amounts are reasonable and you can save even more by using the mail order pharmacy.
Also, if you are a CVS customer, the extra 20% savings on CVS brands is a nice perk. Overall this seems to be a solid plan assuming all your drugs are covered.