Price Information

	Value	Plus	Standard
Monthly Plan Premium	$27.77	$45.35	$27.56

 

There are different levels of costs associated with most Medicare Prescription Drug Plans like Blue MedicareRx.

• Deductible: This is the amount of money you need to pay yourself first before your plan starts to pay.  In the government standardized Medicare Prescription Drug Coverage plan, there is a $250 deductible which means that you would have to pay the first $250 of your eligible drug expenses for each year.

With Blue MedicareRx, you also have the option to pay a deductible as low as $0.  This means that you can use your benefits as soon as you fill your first prescription.

• Premium:  This is the amount of money you have to pay to have an insurance plan like a Medicare Prescription Drug Coverage plan.  Monthly premiums are charged for Blue MedicareRx plans and can be as low as $27.56.

• Copayment:  This is a type of cost sharing where you would pay a predictable, flat fee for each service.  In the case of a Medicare Prescription Drug Coverage plan, this would be the fee paid for a prescription drug purchase.  For example, for the Blue MedicareRx Plus plan, you might pay a copayment of $3 for the purchase of a generic drug and the plan would pay the remaining cost of the drug.

• Coinsurance:  This is a type of cost sharing where you would pay a certain percentage of the cost of a drug and the plan would pay the remaining percentage.

• Coverage gap:  This is the term used to describe the stage in a Medicare Prescription Drug Coverage Plan when you would be required to pay all of your expenses for eligible drugs.  Some have referred to this as the “donut hole.”

 

Last updated 09/26/2005 - S5715-MRK-ILWebsite