.
.
.
. . .
. . .
Q1 Medicare.com  
Powered by Q1Group LLC Powered by Q1Group LLC.
Education and Decision Support Tools for the Medicare Community
.
.
. . .
. . .
. . .
.
. Home Contact Us MAPD PDP . .
. . 2016 FAQs Latest Medicare News
.
. . .
. . . . . . .
.

2012 Drug Plan Benefits in Plain Text

Description of the CVS Caremark Value (PDP) plan (S5601 - 002) in CMS Region 1 (ME NH).



Medicare Prescription Drug Plan Benefit Details in Plain Text
The following Medicare Prescription Drug plan (PDP) benefits apply to the CVS Caremark Value (PDP) plan (S5601 - 002) in CMS Region 1, which includes all counties in ME NH.

This plan is administered by SILVERSCRIPT INSURANCE COMPANY, a national plan provider. This means that the insurance carrier offers Medicare Part D plan in most every state. To switch to a different Medicare Prescription Drug plan or to change your location, click here.
Click here to see this information for the CVS Caremark Value (PDP) plan in a chart format along with the plan enrollment options. We will also send a copy of the plan benefit details chart to your email account.

Plan Premium
The CVS Caremark Value (PDP) plan has a monthly premium of $40.50. That is $486.00 for 12 months. There are a few factors that can increase or decrease this premium. If you qualify for full or partial extra help, your premium will be lower. If you have a premium penalty, your premium will be higher.

Plan Membership and Plan Ratings
The CVS Caremark Value (PDP) plan a new plan in county, therefore we do not yet have membership figures. The Centers for Medicare and Medicaid Services (CMS) has has given this plan carrier a summary rating of 3.00 stars. The detail CMS plan carrier ratings are as follows: a Customer Service Rating of 3 out of 5 stars , a Member Experience Rating of 3 out of 5 stars, and a Drug Cost Information Accuracy Rating of 3 out of 5 stars.

Prescription Drug Coverage: Deductible, Cost-sharing, Formulary
This plan has a $320.00 deductible. That means that you are 100% responsible for the first $320.00 in medication costs and after that is met, the CVS Caremark Value (PDP) plan will share the costs of your medications with you. (See cost-sharing below). $320.00 is the maximum deductible for 2012. There are other plans with a lower deductible or even a $0 deductible. Click here to review plans with a $0 deductible.
The following information is about the CVS Caremark Value (PDP) formulary (or drug list). There are 3044 drugs on the CVS Caremark Value (PDP) formulary. the CVS Caremark Value (PDP) does offer a mail order service. Click here to browse the CVS Caremark Value (PDP) Formulary.
The Initial Coverage Phase (ICP) can be thought of as the cost-sharing phase of the plan. During this phase, you and the insurance company share your prescription costs. Once you have spent $320.00, your initial coverage phase will start. All medication are divided into tiers within the plans formulary. This helps the plan to organize and manage the prescription cost-sharing. The CVS Caremark Value (PDP) plan’s formulary is divided into 4 tiers. Every plan can name their tiers differently, and can place medications on any tier. The cost-sharing for this plan is divided as follows: Tier 1 contains Generic Drugs drugs. The tier 1 co-payment is $8.00. Tier 2 contains Preferred Brand Drugs drugs. The tier 2 co-payment is $45.00. Tier 3 contains Non-Preferred Brand Drugs drugs. The tier 3 co-payment is $95.00. Tier 4 contains Non-Preferred Brand Drugs drugs. The tier 4 co-insurance is 25% of the drug costs.    Click here to browse the CVS Caremark Value (PDP) Formulary. The CVS Caremark Value (PDP) plan’s Initial Coverage Limit is $2930. When this limit is reached, you exit the Initial Coverage Phase and enter the Coverage Gap (or Donut Hole).
The Coverage Gap, which is also known as the Donut (Doughnut) Hole is the phase of your Medicare Part D plan where you are responsible for 100% of your medication costs. Healthcare Reform mandates that the insurance carrier pay 14% of your generic drug prescription costs in the donut hole on your behalf. The brand-name drug pharmceutical company will pay 50% of the cost of your brand-name drugs pruchased in the donut hole on your behalf. Since the brand-name drug manufacturer pays on your behalf, the portion that they pay counts toward your TrOOP (or True Out of Pocket) costs. Some Medicare Part D plans offer coverage during the Coverage Gap that is beyond the mandated discounts. Any drug not covered by the plan’s Gap Coverage will still receive the discounts noted above -- even if the plan has "No Gap Coverage". This plan (CVS Caremark Value (PDP)) offers No Coverage during the Coverage Gap phase.

Click the +1 button if you have found this page useful:  



.
.
.
Medicare Supplements
fill the gaps in your
Original Medicare
1. Select Your State:
.
.



.
Quick Links
Medicare Part D Reminder Service: 2016
Sign-up for our Medicare Part D Newsletter.
2015 PDP-Finder: Medicare Part D (Drug Only) Plan Finder
PDP-Compare: 2014/2015 Medicare Part D plan changes
2015 MA-Finder: Medicare Advantage Plan Finder
MA-Compare: 2014/2015 Medicare Advantage plan changes
Drug Finder: 2015 Medicare Part D plan drug search
Formulary Browse: View any 2015 Medicare plan formulary
2015 Browse Drugs By Letter
PDP-Facts: 2015 Medicare Part D plan Facts & Figures
.

.

 
.
.
2015 Medicare Part D Rx plans
2015 Medicare Advantage plans
Browse any 2015 Drug Formulary
Find a Medicare plan by drug
Newsletter Sign-up
2016 Plan Info Reminder Service
. . . .
.


.

:: Click here to link to this page on your website
.

    Follow Q1Medicare on Twitter
. .
. . .
. . .
.
Sitemap About Us Newsletter Sign-up Latest Medicare News FAQs Contact Us Privacy Policy Terms Of Use Press
. . © Q1Group LLC 2005 - 2015 . .
. . .
. . .
. .
. .

.
.

Tips & Disclaimers
  • The Medicare Advantage and Medicare Part D prescription drug plan data on our site comes directly from Medicare and is subject to change.
  • Medicare has neither reviewed nor endorsed the information on our site.
  • We provide our Q1Medicare.com site for educational purposes and strive to present unbiased and accurate information. However, Q1Medicare is not intended as a substitute for your lawyer, doctor, healthcare provider, financial advisor, or pharmacist. For more information on your Medicare coverage, please be sure to seek legal, medical, pharmaceutical, or financial advice from a licensed professional or telephone Medicare at 1-800-633-4227.
  • Benefits, formulary, pharmacy network, provider network, premium and/or co-payments/co-insurance may change on January 1 of each year. Our PDP-Compare.com and MA-Compare.com provide highlights of annual plan benefit changes.
  • The benefit information provided is a brief summary, not a complete description of benefits. For more information contact the plan.
  • Limitations, copayments, and restrictions may apply.
  • We make every effort to show all available Medicare Part D or Medicare Advantage plans in your service area. However, since our data is provided by Medicare, it is possible that this may not be a complete listing of plans available in your service area. For a complete listing please contact 1-800-MEDICARE (TTY users should call 1-877-486-2048), 24 hours a day/7 days a week or consult www.medicare.gov.
  • When enrolling in a Medicare Advantage plan, you must continue to pay your Medicare Part B premium.
  • Medicare beneficiaries with higher incomes may be required to pay both a Medicare Part B and Medicare Part D Income Related Monthly Adjustment Amount (IRMAA). Read more on IRMAA.
  • Medicare Advantage plans that include prescription drug coverage (MAPDs) are considered Medicare Part D plans and members with higher incomes may be subject to the Medicare Part D Income Related Monthly Adjustment Amount (IRMAA), just as members in stand-alone Part D plans. In certain situations, you can appeal IRMAA.
  • You must be enrolled in both Medicare Part A and Part B to enroll in a Medicare Advantage plan. Members may enroll in a Medicare Advantage plan only during specific times of the year. Contact the Medicare plan for more information.
  • If you are enrolled in a Medicare plan with Part D prescription drug coverage, you may be eligible for financial Extra Help to assist with the payment of your prescription drug premiums and drug purchases. To see if you qualify for Extra Help, call: 1-800-MEDICARE (1-800-633-4227). TTY users should call 1-877-486-2048, 24 hours a day/ 7 days a week or consult www.medicare.gov; the Social Security Office at 1-800-772-1213 between 7 a.m. and 7 p.m., Monday through Friday. TTY users should call, 1-800-325-0778; or your state Medicaid Office.
  • Medicare evaluates plans based on a 5-Star rating system. Star Ratings are calculated each year and may change from one year to the next.
  • A Medicare Advantage Private Fee-for-Service plan (PFFS) is not a Medicare supplement plan. Providers who do not contract with the plan are not required to see you except in an emergency.
  • Disclaimer for Institutional Special Needs Plan (SNP): This plan is available to anyone with Medicare who meets the Skilled Nursing Facility (SNF) level of care and resides in a nursing home.
  • Disclaimer for Dual Eligible (Medicare/Medicaid) Special Needs Plan (SNP): This plan is available to anyone who has both Medical Assistance from the State and Medicare. Premiums, co-pays, co-insurance, and deductibles may vary based on the level of Extra Help you receive. Please contact the plan for further details.
  • Disclaimer for Chronic Condition Special Needs Plan (SNP): This plan is available to anyone with Medicare who has been diagnosed with the plan specific Chronic Condition.
  • Medicare MSA Plans combine a high deductible Medicare Advantage Plan and a trust or custodial savings account (as defined and/or approved by the IRS). The plan deposits money from Medicare into the account. You can use this money to pay for your health care costs, but only Medicare-covered expenses count toward your deductible. The amount deposited is usually less than your deductible amount, so you generally have to pay out-of-pocket before your coverage begins.
  • Medicare MSA Plans do not cover prescription drugs. If you join a Medicare MSA Plan, you can also join any separate (stand-alone) Medicare Part D prescription drug plan
  • There are additional restrictions to join an MSA plan, and enrollment is generally for a full calendar year unless you meet certain exceptions. Those who disenroll during the calendar year will owe a portion of the account deposit back to the plan. Contact the plan provider for additional information.
  • Medicare beneficiaries may enroll through the CMS Medicare Online Enrollment Center located at www.medicare.gov.
  • Medicare beneficiaries can file a complaint with the Centers for Medicare & Medicaid Services by calling 1-800-MEDICARE 24 hours a day/7 days or using the medicare.gov site. Beneficiaries can appoint a representative by submitting CMS Form-1696.


.
.
.