Enrolling in a Medicare Part D plan involves more than choosing a plan with a comfortable monthly premium. Unfortunately many people don’t fully explore their options and simply choose a plan that fits their budget.
If you are considering one of the four 2013 Humana Part D plans it’s best if you know which group of people the plans were designed for. Keep in mind as you compare 2013 Part D plans that all four Humana Part D plans may not be an available in your region.
When comparing Part D plans there are two things that you must always keep in mind. First of course is your budget. The second is your health. Health is relevant because plans have different formularies or lists of covered drugs. People with a chronic illness may be better off with an expanded formulary. Plans with expanded formularies will generally require a higher monthly premium.
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Comparing Humana Part D plans
This comparison of Humana drug plans is designed to give you a top level view of each plan and who would be best suited for each plan. If you are considering enrolling in a Humana Part D plan you should learn more about the specifics of the plan you are interested in.
Humana Walmart-Preferred RX Plan PDP
This plan was introduced in 2011 and is touted as having the lowest monthly premium of all Part D plans nationwide. Unlike other plans this plan’s premium is the same no matter where you live.
This co-branded plan will benefit you most if you use the 4000 preferred pharmacies. Preferred pharmacies include Walmart, Sam’s Club and Neighborhood Market Pharmacies. Using non-preferred pharmacies will result in cost-sharing greater than some competing plans.
Available to anyone eligible for Part D, you not only save on the premium but save with copays as low as $1. RightSourceRx Mail-Order is available for Tier 1 and 2 at $0 copay. This plan requires a $325 annual deductible.
This plan is best for people requiring a general level of medications who would like a low monthly premium and don’t mind having less choice in pharmacies to maximize savings.
Humana Standard PDP
This plan is for people who need basic drug coverage or who take regular medications to maintain their health. Unlike the Humana Walmart-Preferred RX plan you are able to choose from a much larger network of pharmacies.
A deductible is required and cost-sharing is not in the form of copays, but rather coinsurance or a percentage of the drug cost. Many people may find the predictable cost-sharing of the Humana Walmart plan more desirable if they can utilize preferred pharmacies.
Humana Enhanced PDP
This plan is for people whose needs for medication are beyond basic but not yet to the point where a comprehensive plan is required. This plan may allow you to fill your Tier 1 prescriptions without an annual deductible depending on where you live.
Overall this plan as the name implies will provide you with an expanded formulary so that you can manage chronic conditions. Familiarizing yourself with the Humana Enhanced PDP formulary is recommended before you opt for this plan.
Humana Complete PDP
This plan is for people who are managing several chronic conditions. Due to plan design, Humana Complete PDP will also command the highest monthly premium.
If you require this type of plan some of the features that offer no surprises include no annual deductible, fixed copays and coverage in the donut hole.
If you do not require a plan that is as comprehensive as the Humana Complete PDP opt for one of the other Humana plans with a lower monthly premium.
When comparing Humana Part D plans it’s important that you get detailed information about the plan’s formulary. If your medications are not covered, nothing else matters. With the addition of the Humana Walmart-Preferred RX PDP Humana Medicare has something for most everyone and their budget. You should know by now that the best plan will be individual to your situation.