How Magellan Rx Medicare Basic (PDP) Covers You
In Kentucky the Magellan Rx Medicare Basic Part D Plan (PDP) has an initial coverage limit (ICL) of $2,960, and there is a $405.00 deductible. In addition to the premium, you will make co-payments at your pharmacy. Click on the Co-Pay page to see the co-payment plan.
The ICL is where you share the cost of your prescriptions with your insurance company. You and the carrier (Magellan Rx Medicare) each pay your share until you hit the Initial Coverage Limit ($2,960 spent at the pharmacy on prescriptions).
This plan has a $405.00 deductible that you must pay at the pharmacy before ICP cost-sharing begins. The highest deductible allowed in 2015 is $320.