How Magellan Rx Medicare Basic (PDP) Covers You
The Magellan Rx Medicare Basic PDP, available to all Idaho seniors on Medicare, comes with an initial coverage limit (ICL) of $2,960. The annual deductible is $405.00. Part D plans also have co-pay requirements. You can see the co-payment schedule on the Co-Pay page.
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.