A few notes to help with the understanding of the 2016 Medicare Part D Plan chart above.
Plan Name: This is the official plan name from the Centers for Medicare and Medicaid Services (CMS)
Plan ID: This is the unique id for this particular plan.
Deductible: This is the $360 deductible that was presented in the CMS Standard Plan. Many provider’s plans do not have a deductible, however the premium may be higher.
Coverage Gap the Donut Hole: In the CMS Standard Plan, the beneficiary must pay the next $3752.5 in drug costs (the Donut Hole).
The Healthcare Reform provides that for Plan Year 2016, ALL formulary generics will have at least a 42% discount and ALL brand drugs will have at least a 55% discount in the coverage gap. The Gap Coverage Types discussed in this section are in addition to the Healthcare Reform mandated discounts. In our chart, you will see one of the following:
No Gap Coverage: you must pay the $3752.5;
Yes: This plan offers some level of gap coverage.
Number of Formulary Drugs: This is the total number of drugs on the plan's formulary (drug list).
Members in this Plan: The number of members currently enrolled in the plan.
(Chart Source: Centers for Medicare and Medicaid file 2016 PDP Landscape Source file)
Please note: The above plan information comes from CMS. We make every attempt to keep our information up-to-date with plan/premium changes. However, we cannot guarantee the accuracy of this information. Through the application process we will provide you with the most up-to-the-minute information/pricing.