Healthspring Prescription Drug Plan Review

Healthspring offers a national Medicare Prescription Drug Plan as well as Medicare Advantage plans in many states.  Healthspring is based out of Tennessee is one of the fastest growing Medicare Advantage companies in the United States.  They were recently purchased by Cigna, but currently are maintaining their own Healthspring branding.  Healthspring has always been a company that does things differently, and when it comes to prescription drug coverage they make no exception.  Healthspring offers only one Medicare Prescription Drug Plan while other companies offers usually two to three with one being a “value” plan, and the others being more “comprehensive”.  Healthspring simply offers one plan called Healthspring Prescription Drug Plan.

Healthspring Prescription Drug Plan

The Healthspring Prescription Drug Plan is offered nationally, and the premium you pay will vary based on the region of the U.S. where you live.  You can find your premium by visiting myhealthspring.com.

  • Premium is $27.50 to $53.00
  • Deductible is $320
  • Generic drugs %25
  • Brand drugs %25
  • No extra Coverage Gap coverage
This is a very unique approach to drug coverage.  You don’t see the traditional Tier 1 through Tier 4 or 5 approach here.  Just a 25% cost sharing after the deductible has been reached.  So is this good or bad?  That’s an excellent question!  I would say probably not if you are only taking a few low cost generic drugs; however, if you are taking mostly expensive brand drugs you may see some impressive savings.  Compare your drug plans by entering your drugs at medicare.gov and let them do the comparison for you!
NOTE:  If you are on insulin you may want to take a look at this plan.  Healthspring covers insulin at a lower cost generic co-pay in their Medicare Advantage plans.  In the summary of benefits for this Medicare Prescription Drug Plan they list branded insulin under the generics column which leads me to believe that you may see significant savings on your insulin!

Medicare Part D

5

5 Tips For Shopping Your Medicare Coverage

As your well aware by now, the Medicare AEP, Annual Election Period, is in full force.  The AEP runs from October 15 – December 7 and allows you to make changes to your current Medicare Advantage and Prescription Drug coverage.  Any changes that you make during this time will go into effect January 1st.  Making these […]

Loving, Handsome Senior Couple

Shop Your Medicare Plan During The 2015 Open Enrollment

Nobody likes change and that holds especially true when it comes to insurance.  The worst thing you can do, however is nothing!  That’s because Medicare coverage is changing every year, and that holds true in 2015 as well.  So even if you do nothing, your coverage is changing without you whether you like it or […]

2015 Medicare Annual Election Period (AEP) Underway

Every year the Medicare AEP or Annual Election Period arrives with much anticipation.  You may not know when it starts or what you can do, but you will definitely know it’s here when you start seeing the plethora of television, print ads, and billboards touting the latest and greatest coverage. 2015 Medicare AEP The 2015 […]

2015 Medicare Advantage And PDP Plans Now Available

You are now able to find every Medicare Advantage and Prescription Drug Plan available for 2015.  When I started the Medicare Plans site, my goal was to be able to bring you the ability to search and find any Medicare plan that was available.  This process was a long and difficult one, but now the […]

Medicine-pills

Formulary List Do’s and Don’ts

When it comes to Medicare, the one thing you can NOT overlook is the Formulary list that is provided by the insurance company.  Many times we find ourselves caught up in copays and provider networks that we forget to do one of the most important things.  Check the plan’s formulary list to make sure your […]