BCBSVT reduces rates on its Medicare Part D prescription drug plans

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BCBSVT reduces rates on its Medicare Part D prescription drug plans

Thu, 10/26/2017 - 10:34am -- tim

Vermont Business Magazine Blue Cross and Blue Shield of Vermont (BCBSVT) is pleased to announce its competitively-priced, highest-ranking Medicare Part D prescription drug plan options for 2018. BCBSVT also reminds Vermonters of the open enrollment period, which runs from October 15 to December 7, 2017 with enrollment effective on January 1, 2018. This is the time when those eligible may join a Part D plan or switch plans or insurance carriers. Medicare prescription drug coverage (Part D) is available to anyone who is entitled to Medicare Part A and/or enrolled in Part B. Part D adds drug coverage to original Medicare and helps to lower prescription drug costs and protect from higher costs in the future. 

BCBSVT, in a joint venture with three other New England Blue plans, contracts with the federal government to offer prescription drug coverage, called Blue MedicareRxSM (PDP). BCBSVT is excited to report that Blue MedicareRx (PDP) is the only Part D program in Vermont to achieve a five-star rating[i] for 2018 from the Centers for Medicare and Medicaid Services (CMS). The five-star rating means the highest possible ranking for quality, access and member satisfaction. (See disclaimer 1.)

During the annual open enrollment period (October 15 - December 7), Medicare beneficiaries may join any Medicare Prescription Drug Plan (PDP) or switch from their current Medicare PDP to any another Medicare PDP, regardless of plans’ star ratings. If a plan has a five-star rating, individuals with Medicare can switch into that plan at any time during the year, even if it’s not during an enrollment period. The added bonus of a year-round enrollment period for customers demonstrates the accessibility of BCBSVT’s products and the company’s strong focus on providing customers with quality service and access to care.

“We are proud to offer an affordable prescription drug plan that is highly rated by consumers. The five-star rating means that eligible Vermonters can feel confident that Blue MedicareRx offers excellent coverage, access and overall member experience. The five-star rating also provides consumers the flexibility to switch to Blue MedicareRx products throughout the year, not just during the annual open enrollment period,” says Catherine Hamilton, BCBSVT’s vice president of consumer services and planning.

Hamilton reports, “We are also pleased to share our competitive rates for our 2018 Medicare Part D plans. The Blue MedicareRx Value Plus plan is $38.20 per month (down from $43.10 per month in 2017) and the Blue MedicareRx Premier plan is $122.60 per month (down from $127.70 in 2017)[ii]. (See disclaimer 2.) Both plans feature a broad network of more than 68,000 pharmacies as well as over 3,000 drugs on the formulary list.”

Hamilton adds, “Our Vermont-based staff is available by phone or in person at our main office in Berlin or at our Information & Wellness Center at South Burlington’s Blue Mall to offer personalized service and help in choosing coverage that best meets your needs and budget.”

You also can reach BCBSVT representatives Monday through Friday, 8 a.m. to 4:30 p.m. by phone at (800) 255-4550 (option 2) to discuss BCBSVT’s broad suite of Medicare coverage options.

To learn more about plans and eligibility, you may also contact the Blue MedicareRx (PDP) team at (888) 496-4178, TTY: 711 (24 hours a day, 7 days a week) or visit www.rxmedicareplans.com.

Blue Cross and Blue Shield of Vermont, in a joint venture with three other New England Blue plans, contracts with the Federal Government to provide Part D benefits. Blue Cross and Blue Shield of Vermont is an independent licensee of the Blue Cross and Blue Shield Association. Anthem Insurance Companies, Inc., Blue Cross and Blue Shield of Massachusetts, Inc., Blue Cross & Blue Shield of Rhode Island, and Blue Cross and Blue Shield of Vermont are the legal entities which have contracted as a joint enterprise with the Centers for Medicare & Medicaid Services (CMS) and are the risk-bearing entities for Blue MedicareRx plans. The joint enterprise is a Medicare-approved Part D Sponsor. Enrollment in BlueMedicareRx (PDP) depends on contract renewal.

Blue Cross and Blue Shield of Vermont is the state’s oldest and largest health insurer, providing coverage for about 250,000 Vermonters. It employs about 400 Vermonters at its headquarters in Berlin and its Information and Wellness Center in South Burlington’s Blue Mall, and offers group and individual health plans to Vermonters. More information about Blue Cross and Blue Shield of Vermont is available on the Internet at www.bcbsvt.com Blue Cross and Blue Shield of Vermont is an independent corporation operating under a license with the Blue Cross and Blue Shield Association, an association of independent Blue Cross and Blue Shield Plans.

Source: BCBSVT 10.26.2017

i Medicare evaluates plans based on a 5-star rating system. Star Ratings are calculated each year and may change from one year to the next.

ii You must continue to pay your Medicare Part B premium.