Transamerica MedicareRx Classic Prescription Drug Plan for Pennsylvania Seniors
|Overall Plan Rating:|
|Coverage Limit (ICL):||$2,850.00|
|Pharmacy Mail Order:||Yes|
|Gap Coverage:||No Gap Coverage|
|Low Income Subsidy:||No|
|PDP ID No:||S9579-005|
|Approved by CMS for:||PA Residents|
|Rx Plan Type:||National|
2014 Medicare Prescription Drug Plan Overview
Transamerica MedicareRx Classic is an approved 2014 Medicare Part D Plan for Pennsylvania seniors.
The plan's premium is $542.40 ($45.20/month). It has a $310.00 deductible (annual). For 2014, the maximum Part D deductible is $325. That's up just $5 from last year.
The formulary ID for this Transamerica Life Insurance Company plan is 00014601. The formulary contains 3032 medications.
Most Pennsylvania seniors with Medicare pay the published amount for their Part D plan. However, if you qualify for the Extra Help due to low income, your premium may be lower or cost nothing. If you entered the Part D program late, a penalty may be imposed and your premium will be higher.
Be sure to compare plans. Here are a few Part D Plans we thin you should see:
- Express Scripts Medicare - Value
- Express Scripts Medicare - Choice
- Humana Preferred Rx Plan
- First Health Part D Value Plus
- First Health Part D Essentials
Transamerica MedicareRx 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 2014, the ICL is $2,850. This number is adjusted each year. The highest deductible allowed in 2014 is $310.
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 Transamerica MedicareRx Classic plan in Pennsylvania is tiered as follows:
|Tier||Co-Pay Amount||Medications in Tier|
|1||$0.00||207 Preferred Generics|
|2||$8.00||1819 Non-Preferred Generics|
|3||$45.00||342 Preferred Brand Drugs|
|4||$95.00||301 Non-Preferred Brand Drugs|
|5||25%||363 Specialty Drugs|
2014 Medicare Coverage Gap
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 Transamerica MedicareRx Classic plan all depends on your prescriptions. The Gap Coverage with this policy: No Gap Coverage
Low Income Subsidy
This plan is not available to seniors with a low income subsidy (does not qualify for the $0 LIS premium).
Nation wide, the number of seniors using the Transamerica MedicareRx Classic policy is 0. In region 6 (your region) there are approximately 0 people with this policy (based on 2012 CMS statistics).
Related Health Insurance in Pennsylvania
More Information About Transamerica Life Insurance Company
Transamerica's origins date back to 1904, when the founder of Transamerica Corporation, A.P. Giannini, formed the Bank of Italy (later to be known as Bank of America). Even then, the spirit of Tomorrow Making was evident as Giannini played a vital role in the restoration of San Francisco after the great earthquake and subsequent fire in 1906. While we have grown to become one of the world's most respected financial institutions, it is still our desire to Transform Tomorrow®, and create a better financial future for each and every one of our clients, that drives all that we do.
The summary (overall) rating for this Transamerica Life Insurance Company plan is 4.0 out of 5 based on reviews from 0 user ratings from the previous year. For more information about the review process, visit http://cms.gov.
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