Prescription drug coverage can be a great way to make your prescription medications more affordable. Find out which drug plans offer the best value for Nevada residents, and see how much you can expect to pay for these healthcare options.

Prescription drugs can be expensive, especially if you’re paying out of pocket for them. Medicare beneficiaries have an option to make their prescriptions more affordable: prescription drug coverage.

Medicare Part D prescription drug plans offer lower drug costs in exchange for meeting plan costs and requirements. Enrollment in one of these plans offers coverage for a number of prescriptions in different drug tiers. Finding the right plan will depend on several personal factors.

Get started comparing all the plan options in your service area today. See all your options in one place with the Insurify Medicare comparison tool. 

 

 

What Are the Best Medicare Part D Plans in Nevada?

Below, you’ll find the top eight Nevada Medicare drug plans for 2021. Plans were ranked based on many factors, including out-of-pocket costs (co-payments and coinsurance), deductible costs, and each plan’s Medicare star rating. The out-of-pocket costs listed below are for the initial coverage phase.

Since private health insurance providers administer each plan, you can check the provider’s website for additional information on the plans you want to learn more about. The providers also have a formulary that shows which drugs each plan covers and which tier they fall under. Lower-tier drugs typically have lower costs.

#1 WellCare Classic S4802-093 (PDP)

    • Premium: $32.40
    • Deductible: $445
    • Star rating: 4/5

As is common with WellCare plans, this option has relatively low drug costs. Tier 1 prescriptions are $0–$6, Tier 2 are $3–$24, and Tier 3 are $30–$117. Tier 4 prescriptions require 33–45 percent coinsurance, and Tier 5 require 25 percent coinsurance.

#2 WellCare Value Script S4802-161 (PDP)

    • Premium: $18.30
    • Deductible: $445
    • Star rating: 4/5

Although this plan’s drug costs are higher than the previous plan, the plan has a lower monthly premium to make up for it. Tier 1 drugs are $0–$15, Tier 2 are $5–$30, and Tier 3 are $43–$141. Enrollees pay 48–50 percent coinsurance for Tier 4 drugs and 25 percent coinsurance for Tier 5 drugs.

#3 WellCare Wellness Rx S4802-198 (PDP)

    • Premium: $15.50
    • Deductible: $445
    • Star rating: 4/5

This final WellCare option has some of the highest prescription costs of the three WellCare plans. Tier 1 prescription co-pays are $0–$24, Tier 2 are $8–$45, and Tier 3 are $41–$141. Tier 4 prescriptions require 48–50 percent coinsurance, and Tier 5 require 25 percent coinsurance.

#4 AARP MedicareRx Preferred S5820-028 (PDP)

    • Premium: $94.80
    • Deductible: $0
    • Star rating: 3.5/5

While this plan has the highest monthly premium on the list and high prescription costs, it balances out those costs with a $0 yearly deductible. Tier 1 prescriptions are $5–$45, Tier 2 are $10–$60, and Tier 3 are $45–$141. Tier 4 drugs require 40–45 percent coinsurance, and Tier 5 require 33 percent coinsurance. In the gap coverage phase, some Tier 2 prescriptions require $0–$60 co-pays instead of the typical 25 percent coinsurance for this phase.

#5 AARP MedicareRx Saver Plus S5921-373 (PDP)

    • Premium: $23.90
    • Deductible: $445
    • Star rating: 3.5/5

Drug costs for this AARP plan are significantly lower than for the previous one. Tier 1 co-pays are $1–$18, Tier 2 are $6–$33, and Tier 3 are $36–$123. Enrollees pay 40 percent coinsurance for Tier 4 prescriptions and 25 percent coinsurance for Tier 5 prescriptions.

#6 AARP MedicareRx Walgreens S5921-410 (PDP)

    • Premium: $43
    • Deductible: $445
    • Star rating: 3.5/5

This final AARP plan has similar drug costs to the first AARP option on the list. Tier 1 drug co-pays are $0–$45, Tier 2 are $6–$60, and Tier 3 are $40–$141. Tier 4 prescriptions require 40–45 percent coinsurance, and Tier 5 require 25 percent coinsurance. In the gap coverage phase, some Tier 2 prescriptions require $6–$60 co-pays.

#7 Anthem MediBlue Rx Enhanced S5596-084 (PDP)

    • Premium: $21.40
    • Deductible: $350
    • Star rating: 3.5/5

Although this plan has a lower deductible than most options on the list, it still has a reasonable premium and relatively low prescription costs. Tier 1 co-pays are $0–$15, and Tier 2 are $2–$21. Tier 3 drugs require 20–22 percent coinsurance, Tier 4 require 39–41 percent coinsurance, and Tier 5 require 26 percent coinsurance. In the gap coverage phase, Tier 1 drugs have $0–$15 co-pays, and Tier 2 have $2–$21 co-pays.

#8 Anthem MediBlue Rx Plus S5596-063 (PDP)

    • Premium: $60.60
    • Deductible: $0
    • Star rating: 3.5/5

The final plan is one of only two options on the list with a $0 deductible, but it makes up for that with higher prescription costs. Tier 1 drug co-pays are $1–$45, Tier 2 are $3–$60, and Tier 3 are $43–$141. Tier 4 prescriptions require 45–50 percent coinsurance, and Tier 5 require 33 percent coinsurance.

Want to see how Part D coverage options from other insurance companies stand up to the competition? Find your best health plan match with the Insurify Medicare comparison tool.

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How Much Does Medicare Part D Cost in Nevada?

Medicare Part D coverage doesn’t have to be expensive. The average cost of a Part D plan premium is $32, and in 2021, no yearly deductible can be higher than $445.

Prescription costs for each plan will vary depending on which phase of the plan you’re in throughout the year. Each plan has a:

  • Initial Coverage Phase: This phase begins once you pay your plan deductible and lasts until you reach the initial coverage limit of $4,130 through a mix of both beneficiary and plan payments. 
  • Catastrophic Coverage Phase: Once you reach $6,550 in out-of-pocket costs, you’ll be in this phase, which offers very low co-pays and coinsurance.
  • Gap Coverage Phase: Also known as the “donut hole,” this phase covers the gap between the previous two phases. Typically, you’ll pay 25 percent coinsurance for your prescriptions in this phase.

What Is Medicare Part D?

Medicare Part D prescription drug plans can make drug costs more affordable for Medicare beneficiaries. These plans offer lower prescription co-pays and coinsurance in exchange for paying plan costs like a deductible and monthly premium.

This type of Medicare coverage is especially beneficial if you take maintenance medications. Typically, you have a seventh-month enrollment period to select a plan beginning when you become eligible for Medicare. Though you’ll have opportunities to select a plan after that period, you could face a late penalty for enrolling after your initial eligibility, which you would pay monthly along with your premium.

If you have questions about eligibility or other concerns about enrolling in a plan, you can contact Nevada’s State Health Insurance Assistance Program (SHIP). You can learn more about SHIP from Nevada’s Aging and Disability Services (adsd.nv.gov/).

What Types of Medicare Part D Plans Are Available in Nevada?

If you’re looking for a Medicare Part D drug plan, you have two options. You can either purchase a stand-alone drug plan, or you can select a Medicare coverage option that includes drug coverage.

If you choose a stand-alone plan, you can purchase it alongside your Original Medicare coverage (Medicare Parts A and B). Drug plans can also supplement cost plans, some private fee-for-service plans, and medical savings account plans. 

If you’re looking for more comprehensive Medicare benefits, you might consider Medicare Advantage plans, or Medicare Part C. These options bundle Original Medicare coverage with other coverage like drug plan benefits, dental, vision, and hearing benefits, and other standout coverage like fitness programs and travel benefits.

 

 

FAQ: Nevada Medicare Part D

Which prescription drug plan is best?

While there’s no plan that’s best for everyone, there will certainly be plans that better match what you’re looking for. If you’re looking for a plan with a low deductible, you might consider Anthem MediBlue Rx Enhanced. That plan has reasonable drug costs and one of the lower monthly premiums on the list.

If you’re looking for a nice balance of relatively low premiums and prescription costs, the WellCare Value Script or AARP MedicareRx Saver Plus plans might be the better options on the list for you.

I'm interested in a prescription drug plan, but I don’t know if I can afford one. Is it still possible to purchase a plan?

If you have low income or resources, you may be eligible to receive assistance with plan costs through Extra Help. This government program can help cover plan premiums, co-pays/ coinsurance, or the yearly deductible. To learn more about qualifying for Extra Help, visit the Social Security Administration’s website, SSA.gov.

I have a Medicare Supplement Insurance plan. Can I also enroll in a prescription drug plan?

Medicare Supplement plans, also known as Medigap plans, can be compatible forms of coverage. If your Medigap plan has drug coverage, however, you’ll need to alert your plan provider about your new drug plan so they can remove the drug coverage from your Medigap plan.

You can learn more about Medigap Supplement Insurance enrollment requirements and how Medigap plans work with drug plan coverage at Medicare.gov.

Conclusion: Compare Your Options Now to Find the Best Value

Medicare Part D prescription drug plans can help you afford the cost of brand-name and generic drugs. These insurance plans make the cost of regular prescriptions more affordable and can help you be prepared for future prescription needs.

Since these plans are provided by private insurance companies, it can be difficult to compare costs and eligibility requirements. However, doing a thorough comparison can help you find the best plan for your budget and health needs.

Doing your research before you talk with a licensed insurance agent can keep you from selecting a plan you’ll regret. See all your options online today with the Insurify Medicare comparison tool. 

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Updated May 16, 2021

Jasmine Fleming is a freelance digital content marketer and strategist. She loves crafting helpful content that readers can use to make important decisions. You can learn more about Jasmine at her website, www.jasminefleming.com.