Magellan Rx Medicare Basic (PDP) Monthly Premium
Magellan Rx Medicare Basic is a cost sharing plan. There are several different costs that you pay to receive the benefits, including monthly premiums, an annual deductible, and co-payments.
The monthly premium is $67.20 ($806.40 annually), and the deductible is $405.00. For 2018, the maximum Part D deductible is $320. That's up $10 from last year.
You must pay the premium each month, regardless of the number of prescriptions you have filled. You pay 100% of your prescription costs until you have reached the annual deductible. Plus, you make your co-payment at the pharmacy each time you have a prescription filled. These are your share of the costs.
For all Medicare beneficiaries, there are two situations that will change the amount you pay for this prescription drug plan. First, if you qualify for the Extra Help program your premium may be lower. Second, if a premium penalty has been imposed on you for late entry, your premium will be a bit higher. Contact a Kentucky Medicare Insurance Agent to get an exact quote.