Humana is a health insurance provider that offers group coverage as well as plans for individuals. Group plans are similar to those from your employer and provide coverage for multiples under one plan.
If you are an individual and need insurance, you can sign up for coverage from the company. One of the most important decisions that you need to make is the prescription drug plan that you select.
Enhanced Program – Part D
The most extensive coverage that the insurer offers is its enhanced program. This is also called its Part D plan and is the most comprehensive coverage for prescription drugs that you will find. You can use the mail-order pharmacy owned by the company and have medications sent right to your door every 90 days. When you use the mail order system, you will not have a deductible. There is no annual deductible or amount that you must spend before your plan kicks in either. You’ll pay a small amount for drugs ordered through Walmart and other pharmacies based on the type of medication that you need.
Walmart RX Plan
If you are a senior or a younger person and live near a Walmart, you might prefer the prescription drug plan that the company offers called the Walmart RX Plan. This plan lets you order and refills prescriptions through any Walmart pharmacy as well as any pharmacies at Sam’s Club stores. When you need specialty and name brand drugs, you’ll need to pay a $400 deductible before your insurance covers those medications. You’ll get a small discount on those prescriptions too. All other medications come with a small copay.
Preferred RX Plan
The Preferred RX PDP is a plan that also has a $400 deductible, but this deductible counts across all the medications that you need, including specialty, name brand, and generic drugs. Most generics will not cost a dime, but some come with a very small deductible that any family can afford. This plan also significantly reduces what you’ll pay out of your own pocket for visiting pharmacies anywhere in your city including those that are out of your network. Those who sign up for this plan also receive access to the company’s mail-order pharmacy. Most pay monthly premiums of just $50 or less.
Best Choice for Individuals
Humana offers a number of plans suitable for individuals, but the best plan for you depends on how much you want to pay out of pocket each year and the number of prescriptions that you need in a year. The Enhanced plan is the only one that does not have an annual deductible. While this plan is suitable for those with full-time jobs, it may not be the best option for a senior on a fixed income. Certain types of medications will cost more under this plan, especially preferred or specialty prescriptions that you fill from Walgreens or another drugstore outside of your network.
Best Choice for Families
The best health insurance for families might be the Preferred RX PDP because this plan has a $400 deductible that you can easily meet based on the general health of your family. This plan does not charge you a copay when filling a prescription for a generic medication at a Walmart or Sam’s Club pharmacy. With the coinsurance offered by this plan, you’ll receive help paying up to 50% of your prescription drug costs. It depends on the medications you need and where you get your prescriptions filled. To decide which Humana health insurance prescription drug plan is best for you, you should look at where you can get your prescriptions filled and the cost that you’ll pay out of pocket. The right plan will significantly cut down on your annual prescription costs.