Changes Coming to Your Walmart Value Rx Plan in 2022November 30, 2022
Whether you’re a current Walmart Value Rx plan member or considering enrolling in one, you’ll want to know about some of the changes coming to your plan in 2022. These changes include the changes in your premiums, your formulary, and where you can use your plan’s in-network pharmacies.
Having a Humana Walmart value rx plan can make all the difference for someone taking several generic medications and/or a few name brand drugs. This plan will cover tier 1 and 2 drugs at no cost, while tiers 3 and 5 will require a copay.
Humana is a full-service benefits solutions company that operates in all 50 states, Puerto Rico, and Washington, D.C. The company offers a wide range of health plans, supplementary benefit plans for individuals, and Medicare Part D plans. The company’s mission is to provide guidance to help members reduce costs and improve the health plan experience.
Humana offers three stand-alone Part D plans and offers Part D prescription drug coverage through its Medicare Advantage plans. Plans can include a deductible, drug copays, and coinsurance. The company has also teamed with Walmart to offer a co-branded Medicare Part D prescription drug plan that can offer substantial savings on prescription medicine cost-shares.
Choosing a Humana Walmart Value Rx plan for your prescriptions is a smart move. It’s a well-rounded, low-cost prescription solution with a stellar customer service record. This plan will save you money, especially on name-brand medications.
The Humana Walmart Value Rx Plan (PDP) has a formulary that is divided into levels of coverage, or tiers. For example, Tier 1 drugs are free after meeting the deductible, and you only pay $1 per 30-day supply of Tier 2 drugs. For more information, check out this link.
The Humana Walmart Value Rx plan is one of several Medicare Part D prescription drug plans from Humana. There are three stand-alone Medicare Part D plans, and the company also offers an Advantage plan with Part D coverage. The company is a full-service benefits solutions company, and they are committed to providing members with the information they need to make informed health plan decisions.
Having in-network pharmacies at your local Walmart store is one of the benefits of the Humana Walmart Value Rx plan. The plan is excellent for people who take generic and name brand medications, and will also save you money on copayments.
In addition to in-network Walmart, Humana offers special savings at in-network pharmacies like Kroger, Albertsons, Sam’s Club, and CenterWell Pharmacy. You can also find a list of in-network pharmacies on the Humana website.
Humana offers three stand-alone Part D plans for Medicare. You can find coverage for generics, tier 1 and tier 2 drugs, and maintenance medications. Some plans also offer $0 deductibles or low or no copays for tier 1 drugs.
If you take name brand medications, the Humana Premier Rx Plan may be a better choice for you. It includes 900 tier 1 and tier 2 medications with a $0 deductible, along with 3,700 other medications on the formulary. It also offers an insulin savings program that saves you up to $20 per month for insulin and select insulins.
Changes in premiums from 2022 to 2023
During the 2022 to 2023 period, the average weighted monthly premium for all Part D plans will increase by $4. This includes basic coverage and enhanced benefits. Among national PDPs, the average monthly premium will increase by approximately 12%. The AARP MedicareRx Preferred has the highest average monthly premium among national PDPs in 2023.
In 2023, most Part D enrollees will face higher cost sharing for non-preferred brands. Seven of the 16 national PDPs will have cost sharing amounts increasing. The standard cost sharing for specialty drugs will be a 25% coinsurance.
In addition to higher cost sharing, Part D enrollees will have higher deductibles. Most PDPs will have a standard $505 deductible. In addition, close to half of all PDP enrollees will have coinsurance ranging from 15% to 25% for preferred brands.
Whether you’re in the market for a Medicare Part D plan, or have already enrolled in one, it’s important to know which plan is the best for you. These plans will differ in cost, deductible, and coverage. In addition, you’ll need to know which medications will be covered.
Humana offers three stand-alone Part D plans. They’ll all offer a low to no cost sharing option for generics and maintenance medications. These plans will also include a robust pharmacy network spanning thousands of retail pharmacies. The top-of-the-line plans will include in-network pharmacies such as Walmart, Albertsons, Kroger, and many more.
The Humana Walmart Value Rx Plan is a good fit for people who don’t take a lot of name-brand medications, but do have a few generics on hand. The plan offers a reasonable $505 annual deductible, and is relatively affordable. Moreover, it delivers excellent customer service and drug safety, which isn’t always the case with these plans.