What is a Preferred Pharmacy? A Preferred Pharmacy is a pharmacy that has an affiliation or arrangement with a specific Health Plan/Part D Plan. When a Pharmacy is preferred it will have a lower copay for a medication then other pharmacies in the area. If you are considering a certain health insurance plan and have a specific pharmacy you use, check to see if it is a Preferred Pharmacy, it could save you money in the long run.
All Prescription Drug Plans list their covered Meds on their Formulary, which is the specific list of Meds covered. They identified by Tier with Tiers 1 and 2 being generic. Not all plan list thier Meds on the same Tiers which is why some Meds will be cheaper on certain plans versus another. Factoring in a “Preferred Pharmacy” can also facilitate additional savings.
Check with your Medicare Advisor, he can check if your Pharmacy is Preferred.
Mike Miligi- Owner- Michael M Insurance Services
For over 10 years, Mike has been assisting Seniors and other Medicare-eligible individuals in understanding the ins and outs of Medicare and Medicare Health Insurance options, including Medicare Advantage Plans(Part C), Medicare Supplement Plans(Medigap), Prescription Drug Plans(Part D), and Dental and Vision programs.
Mike is Licensed in seven States and Certified with 11 Insurance Carriers. He has helped thousands of individuals decide on the best course of action for their particular Health Insurance needs. Because Mike is an Independent Medicare Health Insurance Broker, he works for the client, not the Insurance Carriers, and is able to provide his clients with accurate and unbiased Health Insurance options.
