Princess Anne Office
At Landmark Insurance & Financial Group we know that taking prescription medication is an important part of many people’s lives, from blood pressure medication to anti-depressants, it is important that we take our medication.
Medicare Part D helps pay for outpatient prescription drugs and is available through private health organizations or carriers.
The amount that you pay for your prescriptions is determined by several factors, these include:
Your Actual Drug Plan Will Vary Depending On:
Call Landmark Insurance today to speak with one of our health care specialists to go over you Medicare Part D Prescription Drug Benefits.
Deductible – This is the amount you pay for covered health care services BEFORE your insurance plan starts to pay.
Co-Pay – This is a fixed amount that you pay for a covered health care service such as a Doctor’s Office Visit, after you’ve paid your deductible.
Co-Insurance – This is the percentage of costs of a covered health care service such as a Doctor’s Office Visit where you pay (20%, for example) AFTER you’ve paid your deductible.
Brand Name Prescriptions – These are prescription drugs marketed with a specific brand name by the company that manufactures it, usually the company which develops and patents it.
Generic Prescriptions -A generic drug is identical -or bioequivalent -to a brand name drug in dosage form, safety, strength, route of administration, quality, performance characteristics and intended use. However, they are marketed without brand names and are generally less expensive than brand-name drugs, even though meet the same standards of the FDA (US Food and Drug Administration) for safety, purity and effectiveness.
Formulary Prescriptions – A drug formulary is a list of prescription drugs, both generic and brand name, used by practitioners to identify drugs that offer the greatest overall value.
Non-formulary Prescriptions – Non-formulary drugs are usually not covered by your plan even if the doctor declares that it is medically necessary. You can still have a non-formulary medication filled, but you will have to pay the full price of the drug.