Each Medicare prescription drug plan has it’s own list of covered drugs called a formulary. All formularies are similar because they are based on the same federal guidelines, however they may not include the exact same medications. The federal government requires the plans to include most of the types of drugs used by Medicare beneficiaries. The difference in the drug formularies will be important to you because you will want to be certain that the prescription drugs you take will be on the plan’s list you are planning to enroll in. We break it all down here.
Topics: prescription drug coverage, Prescription Drug Plan, how medicare works, Prescription drugs, Prescription drug plans, discounts on prescriptions, What is Medicare?, what is a formulary?, medicare formulary
Medicare can be complex, and there is certainly no one size all fits approach to it. Everyone will find themselves with different needs and wants when it comes to the their healthcare, and we all have expectations that we would like to have met. This is one of the most important decisions we have to make, and with all of the information you may start to receive before the transition into Medcare it can seem overwhelming. There are many benefits to using a Medicare Checklist to sort through it all, but here are the top 5 reasons.
Topics: medicare health insurance, Medicare Supplement Plans, Medicare, open enrollment, health insurance, Medicare Supplement, AEP, Prescription drug plans, What is Medicare?, Medicare Checklist, What is AEP?, What is the Annual Election Period?, What is Annual Election Period?, Medicare 2016, medicare formulary