EnvisionRxPlus Silver vs EnvisionRxPlus Gold

There’s more differences than branding between EnvisionRxPlus Silver and Rite Aid EnvisionRxPlus

You more than likely to have a couple dozen Part D plans available to choose from. Many are from familiar big name companies that saturate the media with their commercials and branding such as Humana and United HealthCare.

Other Medicare drug plans are from compaanies that may not necessarily be top of mind. One such company is Envision Insurance company.

Envision offers two Part D plans; EnvisionRxPlus Silver (PDP) and EnvisionRxPlus Gold (PDP).

This article will review the EnvisionRxPlus plans, point out the main differences and shed some light on who would be a good candidate for either plan.

EnvisionRxPlus Silver PDP

Medicare Part D plans can be divided into two types of plans; those with basic formularies and those with expanded formularies. A Part D formulary lists all drugs covered by a plan. Envision Silver Part D is a plan with a basic formulary.

If you have few drug requirements or primarily take generic medications this may be a good plan to research a little further. The main consideration when choosing a Part D plan is to be certain that all your drugs are included in the plan’s formulary.

Plan Highlights

• Basic formulary with plans available nationwide
•  National pharmacy network means in-network coverage when traveling out of State
• $325 In-network annual deductible
• You pay 25% coinsurance (tier 1 and 2) 23% for tier 3, 28% tier 4 and 25% tier 5 after you meet the deductible until total yearly costs reach $2970
• No additional coverage in gap beyond CMS mandated discounts

The key to whether this plan will be right for you is if all your medications are included in the EnvisionRxPlus Silver formulary. Estimating costs with this plan may be a little more difficult than with other plans due to the cost sharing being in the form of coinsurance.

If you live in a State where the Envision Rx  premium is toward the higher range you may want to look at the formularies for less costly plans such as the Humana Walmart-Preferred Rx plan or the First Health Value Part D plan. The national premium for the Humana Walmart PDP is only $18.00 per month.

How to Determine What Part D Really Costs

EnvisionRxPlus Gold PDP

If you require many medications, require less popular brand medications or suffer from a chronic condition an enhanced formulary may be the right choice. As with any plan, researching the formulary is key.

Plan Highlights

• Enhanced formulary available in 31 States and the District of Columbia
•  National pharmacy network includes both preferred and non-preferred pharmacies
• $150 annual deductible
• Over 500 generic drugs covered at $0 at preferred pharmacies
• Varying coinsurance amounts tiers 2-5 both in-network and out of network
• Some generics covered in the coverage gap
• Lower costs at preferred pharmacies

This plan seems a little difficult to decipher with all the varying coinsurance amounts and differences between the preferred and non-preferred pharmacies. Refer to you slide rule (just kidding!) or the Summary of Benefits. If your medications are included in the formulary and you can make sense of your out-of-pocket costs this plan may be worth considering as it often has a lower premium that other competing plans offering an enhanced formulary.

As with any Part D plan the main concern should first be that all your drugs are included in the formulary. Beyond the premium and other out-of-pocket costs you may want to also consider the Medicare Star rating for Part D plans. Both the EnvisionRxPlus Silver and EnvisionRxPlus Gold plans seem to garner a 2.5 star rating (2012 data) of a possible 5 stars as indicated at medicare.gov.