Humana’s new tool assists people with drug and premium costs during annual Medicare enrollment

People with Medicare looking to ensure the medication they take is covered by their Medicare Advantage or Part D plan now have an easy-to-use tool thanks to Humana's Rx Calculator.

The tool is available in time for the 2018 Medicare Advantage and Prescription Drug Plan Annual Election Period, or AEP, which runs through Dec. 7, 2017.

People with Medicare typically have three questions when it comes to their medication: 1) Is the drug covered? 2) How much is the drug going to cost me for the whole year? and 3) Can I save money by filling my prescription at certain pharmacies? The tool aims to answer all three questions for members and potential members, taking the guesswork out of drug pricing.

The tool can be used by members online via Humana.com/Medicare and by Humana licensed sales representatives and by licensed sales agents through Humana's agent portal.

This tool gives licensed sales agents the ability to guide prospective members through the Medicare enrollment process and to determine what plans best meet their health care needs. The public can also use the tool on Humana.com/Medicare by selecting "Prescription Drug Plans" then inputting the appropriate ZIP code on the next screen. Selecting "See if Rx drugs are covered" on the following screen will open up the calculator where users can enter the drug name, dose, quantity and frequency.

After entering this information, the tool shows three important fields for each Medicare Advantage and Part D plan available in the area: the member's Annual Premium (what you pay for the plan you selected over the course of the year), Member Drug Pay (the cost of the drug over the course of the year on that particular plan) and the Estimated Annual Total, which is the total of both the Annual Premium and the Member Drug Pay. Individuals will also be able to see the cost to fill a prescription at various Humana network pharmacies, including Humana's mail-delivery pharmacy.

"We created this tool because we wanted to make it easy for members and potential members to figure out what their medication would cost them over a typical year," said William Fleming, President, Healthcare Services for Humana. "Time and time again we hear from members who say figuring out their drug cost is the most complicated part of selecting a plan. The new pharmacy tool makes it easy for them to see the three key pieces of information they need to know - premium, drug cost and annual cost - to make the best and most informed decision during AEP."

The tool was created based on input from Humana's Medicare Advantage members, as well as by hosting several focus groups with Humana licensed sales representatives and agents.

"Our sales representatives and agent partners interact with members daily during AEP and beyond. Who better to tell us if the tool is user-friendly and capturing the feedback they hear in the field," said Alan Wheatley, Retail Segment President for Humana. "Drug coverage is a key consideration when selecting the right Medicare plan. In the first week the new tool was available, it was used to price more than 100,000 drugs."

For those who have Medicare (or are caring for someone who does), this is an important time to explore what's available for 2018. Individuals may use this time to choose a Medicare Advantage and/or Medicare Part D option for the first time or explore a new plan that may better meet their health care needs. Those selecting a plan during AEP will be able to start using the plan's benefits Jan. 1, 2018.

In addition to the Rx Calculator, Humana provides other digital tools to make it easy for members to navigate the health care space and ease the onboarding process to Humana. One of the more popular tools is the digital identification card that is made available via the MyHumana mobile app. This app allows members to access their member ID card on the first day of the plan year and removes the hassle of having to carry around another card. The app also allows members to view their coverage and claims history and to find an in-network provider and pharmacy. The app can be accessed via the app store on any mobile device.