WellCare Extra for Michigan 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:||No|
|Medicare Approved for:||MI Residents|
Medicare Prescription Drug Plan Summary
WellCare Extra is a 2014 Medicare Prescription Drug Plan (Part D) for beneficiaries living in Michigan.
The annual premium is $535.20 ($44.60 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 00014172. The formulary contains 2844 medications.
For all Michigan 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.
Compare plans for best prices on your prescriptions. Here are a few Part D Plans we thin you should see:
- Express Scripts Medicare - Choice
- Prescription Blue Option B
- Transamerica MedicareRx Choice
- First Health Part D Value Plus
- AARP MedicareRx Preferred
WellCare Extra 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. That means you receive prescription coverage assistance on day one (first dollar coverage).
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 WellCare Extra plan in Michigan is tiered as follows:
|Tier||Co-Pay Amount||Medications in Tier|
|1||$0.00||281 Preferred Generics|
|2||$0.00||1576 Non-Preferred Generics|
|3||$38.00||264 Preferred Brand Drugs|
|4||$73.00||403 Non-Preferred Brand Drugs|
|5||33%||320 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 WellCare Extra plan all depends on your prescriptions. The Gap Coverage with this policy: No Gap Coverage
Low Income Subsidy
This presdription drug plan does not qualify for the $0 LIS premium.