Medco Medicare Prescription Plan

Medco is a name that you are probably familiar with when it comes to prescription drugs.  Many companies have used Medco to fill their mail order prescription drugs.  This year Medco has two Medicare Prescription Drug plans available.  Medco currently services over 65 million Americans every day, and have a customer service number that is open 24 hours a day, 7 days a week.  Their Medicare Prescription drug plans cover over 3,000 drugs at over 63,000 pharmacies nationwide!  Their two plan offerings are the Value Plan and the Choice Plan.

Medco Value Plan

  • Premium is between $30.70 to $49.40
  • Deductible is $320
  • Tier 1 drugs $4
  • Tier 2 drugs $8
  • Tier 3 drugs 25%
  • Tier 4 drugs 34-40%
  • Specialty Tier Drugs 25%

Medco Choice Plan

  • Premium is between $59.90 to $97.80
  • Deductible is $0 for Tier 1 and Tier 2.
  • Deductible is $150 for all other drugs
  • Tier 1 drugs $6
  • Tier 2 drugs $12
  • Tier 3 drugs $45
  • Tier 4 drugs $95
  • Specialty tier drugs 26%
  • Coverage through the gap for Tier 1 and Tier 2

The Medco Medicare Prescription plans carry a 5 star rating from Medicare.  After looking at the plan coverage, I don’t believe this star rating will last.  The Choice plan has higher copays on Tier 1 and Tier 2 and also has a deductible.  Normally, the higher priced offering has lower copays and no deductible.  Also, seeing the percentages for Tier 3 and 4 on the value plan is very concerning.  Let’s hope this is not the direction that drug plans are heading!  I would definitely steer clear of this plan in most cases.  As always, I recommend that you call Medicare at 1-800 Medicare or go online to www.Medicare.gov and enter all of your drugs on the website.  Medicare will be able to tell you what is the best plan based on your individual prescription needs.