RxAlly to debut Medicare Prescription Drug Plan this season
CLEVELAND — More than 20,000 RxAlly member pharmacies — including independent pharmacies, regional chains and Walgreens — will begin accepting a new federally qualified Medicare Prescription Drug Plan, SmartD Rx, beginning Jan. 1, 2013. Developed by Smart Insurance Company with the input of pharmacists, SmartD Rx will be offered to beneficiaries for the first time this fall during Medicare’s open enrollment period.
“RxAlly and its member pharmacies are ideally suited to partner with SmartD Rx to serve the prescription drug needs of Medicare beneficiaries,” stated Bruce Roberts, CEO of RxAlly.
“SmartD Rx is designed to meet the ever-changing needs of the current 48 million Medicare population segment and serve the 10,000-plus individuals in the U.S. population who turn 65 every day,” stated Pritpal Virdee, Smart Insurance Company CEO. Smart Insurance Company was formed to find innovative solutions that allow seniors and their caregivers to better understand and take advantage of the prescription drug coverage options available in today’s healthcare marketplace, according to Virdee.
SmartD Rx will be available in all 50 states, the District of Columbia and Puerto Rico. The plan offers $0 co-pays for preferred generic medications at preferred network pharmacies, low premium options and the convenience and cost savings of 90-day prescription refills at retail. Additionally, qualified seniors will be able to receive comprehensive medication therapy management services from their community pharmacy.
SmartD Rx also provides licensed plan representatives to the RxAlly network of more than 20,000 pharmacies. These licensed plan representatives will be available to help consumers navigate the nuances of Medicare Part D and provide on-the-spot answers to questions that may arise about Medicare’s prescription drug plans.
SmartD Rx has two plan options available: SmartD Rx Saver and SmartD Rx Plus. Both plans offer seniors $0 member co-pays for preferred generic medications and lower co-pays for all medications at Preferred Network pharmacies. Neither plan has a mail-order option, but both offer a 90-day supply of medication at retail pharmacies with a discounted co-pay compared to a 30-day supply. SmartD Rx Plus offers additional options to minimize out-of-pocket costs and greater levels of coverage with no deductible for a higher premium.
Additional features of SmartD Rx Saver and SmartD Rx Plus include no annual deductible for SmartD Rx Plus and a $325 annual deductible for SmartD Rx Saver. And coinsurance fees are calculated on a tiered system based on the type of drugs needed, ranging from $0 co-pay for preferred generic drugs to 25% of the cost of the prescription for specialty drugs needed for complex or rare conditions.