WellCare Classic for Kentucky Seniors
|Medicare Quality Rating:|
|Your Monthly Cost:|
|Your Pharmacy Co-Pay:||$0.00|
|Starting Coverage Limit:||$2,850.00|
|By Mail Order:||Yes|
|Gap Coverage:||No Gap Coverage|
|Low Income Subsidy:||Yes|
|Medicare Approved for:||KY Residents|
Medicare Prescription Drug Plan Summary
WellCare Classic is an approved Medicare Prescription Drug Plan (Part D) for seniors in Kentucky.
The annual premium is $250.80 ($20.90 monthly), and it has a $0.00 annual deductible. With a zero dollar deductible you have first dollar coverage. Many plans have a policy deductible that must be paid in full prior to receiving prescription coverage assistance.
The formulary ID for this WellCare plan is 00014171. The formulary contains 2844 medications.
For all Kentucky seniors with Medicare benefits, there are two situations will change the amount you pay for you 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.
Here are a few Part D Plans that compare with WellCare Classic:
- Express Scripts Medicare - Choice
- First Health Part D Premier Plus
- Transamerica MedicareRx Choice
- First Health Part D Value Plus
- Humana Enhanced
WellCare Classic 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. No deductible means your initial coverage phase begins immediately.
All prescription medications fall into one of several tiers of the plan's formulary. The formulary tiers are used to manage cost-sharing (e.g., co-payments). Formulary tiers are not standardized. Each insurer can assign drugs to the tier that best suits what they pay for drugs.
The pharmacy co-pay with the WellCare Classic plan in Kentucky is tiered as follows:
|Tier||Co-Pay Amount||Medications in Tier|
|1||$0.00||281 Preferred Generics|
|2||$11.00||953 Non-Preferred Generics|
|3||$40.00||780 Preferred Brand Drugs|
|4||$90.00||510 Non-Preferred Brand Drugs|
|5||33%||320 Specialty Drugs|
2014 Part D Plan Doughnut 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 WellCare Classic plan all depends on your prescriptions. The Gap Coverage with this policy: No Gap Coverage
Low Income Subsidy
This Part D plan qualifies for the full LIS benefit ($0.00 monthly premium) for seniors with low income subsidy.