A Medicare prescription drug plan, also known as Medicare Part D, is a prescription drug plan that is offered by insurers and other private companies. It’s a type of insurance that helps cover a wide range of both brand-name and generic prescription drugs, providing protection to all Medicare beneficiaries. The Humana Walmart-Preferred Rx Plan (PDP) is one such plan.

Everyone with Medicare, regardless of income, health status, or prescription drugs used, can get prescription drug coverage. Like all Medicare Part D plans, the Humana Walmart-Preferred Rx Plan (PDP) is available to people who get benefits through Original Medicare, a Medicare Private Fee-for-Service Plan with no drug benefit, a Medicare Cost Plan or a Medicare Medical Savings Account Plan.

To join a Medicare prescription drug plan, you’ll usually pay a monthly plan premium (which varies by plan) and a yearly deductible. You will also pay a part of the cost of your prescriptions, that is, a copayment or coinsurance. The monthly plan premiums for the Humana Walmart-Preferred Rx Plan (PDP) is $15.10, and in-store copayments for the Humana Walmart-Preferred Rx Plan (PDP) can be as low as $1 per prescription at preferred pharmacies, like Walmart, Sam’s Club, Neighborhood Market and Walmart Express pharmacies.

 There are three periods for enrolling in a Medicare Part D plan:

• The Initial Enrollment Period (IEP): This is the period when you first become eligible to enroll in a Part D plan. This period begins three months before you become eligible for Part D, and ends three months after your eligibility date. (This is a one-time, non-recurring enrollment period.)
• The Annual Enrollment Period (AEP): This enrollment period occurs from October 15 to December 7 in 2011, effective January 1, 2012, and each year thereafter.
• The Special Enrollment Period (SEP): This period is available to enroll or unenroll from a prescription drug plan in certain cases. Examples include a change of residence, a change in demographic status, or loss of creditable coverage. See www.medicare.gov for more information.

It’s easy. From October 15 through December 7 of this year, you can enroll:

• Online: Visit www.walmart.com/rxplan during the enrollment period and click the “Enroll Now” button to sign up (secure enrollment via Humana.com).
• By Phone: Call Humana at 1-800-899-0542. If you use a TTY, call 711, 8am to 8pm., 7 days a week.
• In Person: Learn more at Humana kiosks in select Walmart stores. Find a location near you.

Medicare prescription drug plans cover a wide range of both brand-name and generic prescription drugs, but enrollees are typically required to pay for a portion of the cost of such drugs via coinsurance or copayments. Copayments for in-store purchases under the Humana Walmart-Preferred Rx Plan (PDP) are as low as $1 per prescription at preferred pharmacies, like Walmart, Sam’s Club, Neighborhood Market, Walmart Express pharmacies.

You can learn more about Medicare at www.medicare.gov.

People with limited incomes may qualify for Extra Help to pay for their prescription drug costs. If eligible, Medicare could pay for up to 100 percent of drug costs, including monthly prescription drug premiums, annual deductibles and coinsurance. Additionally, those who qualify will not be subject to the coverage gap or a late enrollment penalty. Many people are eligible for these savings and don’t know it. For more information about this Extra Help, contact your local Social Security office, or call 1-800-MEDICARE (1-800-633-4227), 24 hours per day, 7 days per week. TTY users should call 1-877-486-2048.