Symphonix Value Rx for Arizona Seniors
|Medicare Quality Rating:|
|Your Monthly Cost:|
|Your Pharmacy Co-Pay:||$310.00|
|Starting Coverage Limit:||$2,850.00|
|By Mail Order:||Yes|
|Gap Coverage:||No Gap Coverage|
|Low Income Subsidy:||Yes|
|Medicare Approved for:||AZ Residents|
Medicare Prescription Drug Plan Summary
Symphonix Value Rx is an approved 2014 Medicare Prescription Drug Plan (Part D) for Arizona seniors.
The plan's premium is $315.60 ($26.30/month). It has a $310.00 deductible (annual). For 2014, the maximum Part D deductible is $310. This amount adjusts slightly each year.
Symphonix Health Insurance's formulary ID for this plan is 00014387, and it features 3382 FDA approved medications.
There are two situations will change the amount you pay for you drug plan in Arizona. If are a low income beneficiary and qualify for Extra Help your premium could be less. Also, if you have a premium penalty due to late entry, your premium will be higher.
Here are a few Part D Plans that compare with Symphonix Value Rx:
- Express Scripts Medicare - Value
- Express Scripts Medicare - Choice
- Transamerica MedicareRx Choice
- Transamerica MedicareRx Classic
- Humana Preferred Rx Plan
Symphonix Value Rx Initial Coverage
ICP - the Initial Coverage Phase - is where you share the cost of your prescriptions with your insurance company. You and the carrier each pay your share until you hit the Initial Coverage Limit (ICL). In 2013, the ICL is $2,850. This number is adjusted each year. This plan has a deductible, so your ICP does not start until the deductible has been paid.
All medications are organized into one of several tiers within the insurance carrier's drug formulary. Carriers use the formulary tiers to manage cost-sharing. Formulary tiers are not the same from plan to pan. Insurance carriers assign drugs to the tier tha's best for them.
The pharmacy co-pay with the Symphonix Value Rx plan in Arizona is tiered as follows:
|Tier||Co-Pay Amount||Medications in Tier|
|1||$1.00||1391 Preferred Generics|
|2||$14.00||314 Non-Preferred Generics|
|3||$40.00||352 Preferred Brand Drugs|
|4||$85.00||831 Non-Preferred Brand Drugs|
|5||25%||494 Specialty Drugs|
2014 Medicare Part D Donut Hole
The Initial Coverage Limit (ICL) is $2,850.00. The prescription drug Coverage Gap (aka, "Donut Hole") is the coverage phase where you must pay all of your medication costs. When you reach the donut hole with the Symphonix Value Rx plan all depends on your prescriptions. The Gap Coverage with this policy: No Gap Coverage
Low Income Subsidy
This drug plan qualifies for the full low income subsidy benefit ($0.00 LIS premium).