These types of plans differ in monthly premium and coverage.
In choosing a Medicare Prescription Drug Plan there are several factors that must be taken into consideration.
Trying to predict annual prescription drug costs can be very difficult. There are many plans with lower monthly premiums that have higher deductibles. Additionally, many of the higher priced plans have no deductibles. It is therefore important to determine the annual out of pocket costs which include the monthly premium, co-pays, and deductible amounts.
Often there are certain approval requirements for prescriptions such as prior-authorizations and step therapy.