Are My Prescription Drugs Covered by My Coventry Plan?
This article was updated on: 10/20/2018
If you’re a Medicare beneficiary who needs prescription drug coverage, it’s important to make sure that the plan you enroll in covers your current medications, or your costs could be much higher. If you’re currently enrolled in a Coventry Medicare Advantage Prescription Drug plan or a Coventry stand-alone Medicare Prescription Drug Plan, or if you’d like to find out if a Coventry Medicare plan covers your medications before enrolling, this article will help you find the resources you need to understand Coventry’s prescription drug coverage.
What is a formulary?
A formulary is simply a list of prescription drugs your plan will cover, and it includes the coverage amounts allowed for each medication (both what the plan will pay and your costs). If you need to find out if a Medicare Prescription Drug Plan or Medicare Advantage Prescription Drug plan covers your prescription drugs, you can check the plan’s formulary. Keep in mind that Medicare plans may change their formularies at any time; however, the plan will notify you if necessary.
All Medicare plans that include prescription drug coverage must include, at a minimum, the standard formulary approved by the Medicare program, such as rules about prescription drugs that must be covered under certain protected drug classes (for example, antidepressants or anti-cancer medications).
Here are some things to keep in mind about Coventry Medicare plans with prescription drug coverage:
- As mentioned, plans may change their formularies from time to time, but they will notify you in writing, at least 60 days before the changes take place.
- Your plan may use cost-control measures such as prior authorization, quantity limits, or a tiered formulary, which usually have lower copayments and coinsurance amounts for lower-tiered medications and higher out-of-pocket costs for more expensive, higher-tiered prescription drugs.
- Not all Coventry MedicareAdvantage and prescription drug plans may be available in every location, and plan benefits and premiums may vary depending on where you live.
How do I know if my medications are included in my Coventry Medicare Advantage or Coventry stand-alone Medicare Part D Prescription Drug Plan formulary?
Here are helpful resources to help you find your plan’s formulary and get other information you need to understand your Coventry Medicare prescription drug benefits.
- This online tool lets you search for network providers, pharmacies, and specific prescription drugs. You don’t need a plan ID to use this tool, so you can use it to find out if your prescription drugs are included in a plan that you’re considering enrolling in.
- Visit this page to view a list of formularies available for Medicare plans that include prescription drug benefits. You’ll need to know the name of the plan you are interested in or currently enrolled in to find the correct formulary.
- Use this website to download forms and access other tools to help you manage your prescription drug benefits for your Coventry Medicare plan.
- Register for an online account for your Coventry Medicare plan and use the member portal to view claims, access health and wellness tools, search for providers, and more. You can also download the mobile app if you use a tablet or smartphone.
Would you like to learn more about Coventry Medicare coverage? Simply visit the Coventry page to learn more about your plan options. Or, if you’re ready to start browsing right away, click the Find Plans button on this page to start comparing plan options in your location. If you’d like personalized assistance with your Medicare needs, feel free to contact me or another licensed insurance agent.
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