BravoRx PDP is not for everyone
Most insurance companies offering Part D insurance have more than one plan to choose from. This is not the case of BravoRx available from Bravo Health, a HealthSpring company.
Part D plans can be classified by their type of formulary. A formulary is the list of drugs that are covered by a plan. Formularies can either be basic or enhanced. BravoRx has a basic formulary.
If you require many brand-name drugs or suffer from a chronic condition that requires many expensive drugs, the BravoRx Part D plan is probably not for you. You will more than likely require a Part D plan with an enhanced formulary.
This article will give an overview of BravoRx. Any decision you make regarding this plan should be after you have reviewed the plan’s Summary of Benefits and Part D formulary.
BravoRx features and benefits
There is nothing special about BravoRx. Just a basic plan.
- Basic formulary only
- Available in 38 States and the District of Columbia
- Premiums are average
- $325 annual deductible
- 25% coinsurance after deductible until yearly costs equal $2970
- No additional gap coverage beyond mandated discounts
- Conforms to Part D Standard Benefit Model
The difficulty with this type of plan lies in determining ahead of time what out-of-pocket costs you will actually be responsible for. Unless you know the rate that Bravo Health pays for each of your drugs, you will have a difficult time figuring out what 25% of the total cost will be. If you would like to have more certainty regarding you share of costs, consider a plan with set copay amounts.
Although BraxoRx has a pharmacy network spanning all 50 States, there are no preferred pharmacies where you can get super-low copays on select drugs. HealthSpring seems to have not been successful in developing relationships with retail pharmacies. Compare this to offerings such as; Humana Walmart-Preferred Rx, CVS Caremark Plus and Rite Aid Envision Rx Plus.
Nor does BravoRx offer any extras such as the CIGNA Rx Healthy Rewards Program which offers a discount on a host of other programs and services. All in all a fairly basic Part D plan.
Should you enroll in BravoRx?
As with all Medicare Part D plans you should first explore the formulary. If your drugs are not included, you should look for another plan. If you require an expanded formulary, this plan is probably not your best choice.
If you are not on medications or are only required to take a few medications which are all included in the formulary, it may be worth looking into. this would be one of the few instances when relying on a low monthly premium would make sense. Visit the Bravo Health website and review both the Summary of Benefits and formulary for BravoRx.
Compare multiple plans online and learn which plan can save you the most.
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