Cigna Medicare offers two Part D plans for 2013. The key to deciding which one is right for you can be found in the plans’ formularies.
A Medicare Part D formulary is the list of covered medications. Whether you are choosing a Cigna Medicare RX plan, AARP Medicare RX plan or any other plan, the most important factor will generally be the plans Part D formulary. After all, if your medications are not covered, there is little reason to choose that plan even if the premium is low or affordable.
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Cigna Medicare RX plan differences
There are some other significant differences between the two Cigna Part D plans besides the formularies.
Cigna Medicare RX Plan One (PDP)
Plan one is for people who are looking for a Part D plan with a low monthly premium and low generic copays. Plan One includes:
- $325 annual deductible
- Broad drug coverage
- Standard gap coverage
Cigna Medicare RX Plan Two (PDP)
Although Plan Two has a higher monthly premium, if you require more predictable costs and an expanded formulary, this may be your better choice. Plan Two includes:
- $0 annual deductible
- $0 copay for some generic drugs
- Some coverage in the donut hole
The most significant difference between the two available plans is the monthly premium and difference in the formularies. Before you choose a plan make sure that your medications are included.
If you do not require an expanded formulary you may still benefit by choosing the higher premium plan. For instance, if you will require at least $325 in drugs during the year consider that the Plan One deductible will equate to paying an additional $27.08 per month ($325 divided by 12 months).
In addition, if your generic drugs are included at $0 copay with Plan Two you may save even more. On the other hand if you are required to take very few medications and all are included in the Plan One formulary, you may come out better with Plan One.
It pays to review the plan formulary and do your homework before you choose a plan. Other factors to consider include:
- Whether your pharmacy is in network
- If you can benefit from the mail order option
- If copays are competitive with other Part D plans
- Whether tier placement of drugs is similar to other plans
Cigna RX discounts and extras
Cigna offers its members The Healthy Rewards program. This program can potentially save you money and requires no referrals or claim forms. Benefits include:
- Up to 30% off of fitness club costs
- Discounts on vision services and eye ware at over 20,000 locations
- Online discounts for nutritional supplements
- Hearing testing and hearing aid discounts
- Save up to 25% on chiropractic, massage and acupuncture services
Whether you decide to receive your health benefits from original Medicare or from Medicare and a Medicare supplement, a Cigna Medicare RX Plan may be a good option for you.
When comparing Part D plans, visit plan websites and review the coverage and the plan formularies to ensure you are getting the best Part D plan for 2013.