In Tennessee, the State is split on the number of beneficiaries who receive their prescription drug coverage through Medicare Advantage or Medicare Part D. Of the 1,023,859 beneficiaries with Medicare drug coverage, 516,200 enrolled in a Part D prescription plan.
Tennessee Part D prescription drug plans for 2024
Part D is one of the ways to receive coverage for prescription drugs you pick up from the pharmacy. Part D is one of the four parts of Medicare and is technically not required. Remember that if you’re first eligible for prescription coverage and choose not to take it, you’ll be penalized when you decide you need it.
We’ll cover the drug plans with the lowest premium and the ones without a deductible. Then, we’ll discuss the donut hole and the Low-Income Subsidy program. After that, we’ll discuss the coverage phases and answer common questions. Finally, we’ll show you how to get help with Medicare Drug Plans.
Tennessee Medicare Part D plans with the lowest premium
Aetna has the lowest premium with its SilverScript drug plans. They have been considered one of the top drug plan companies for several years. The program is highly affordable, with a premium of under $7.
Wellcare has the next lowest premium in the state. Their plan’s premium is just under $13. Wellcare is one of the premier names in Medicare drug coverage.
Clear Spring comes in third with a monthly plan premium of over $16. They have the lowest star rating but are a reasonably new company improving.
| PLAN | PREMIUM | DEDUCTIBLE | STAR RATING | GAP COVERAGE |
| Aetna | $6.50 | $480 | 3 | No |
| Wellcare | $12.90 | $480 | 3 | No |
| Clear Spring | $16.30 | $480 | 2 | No |
| Humana | $22.70 | $480 | 4 | No |
| UnitedHealthcare | $29.30 | $310 | 4 | No |
Tennessee Medicare Part D with a zero-dollar deductible
Deductibles are part of the Medicare standard model, but that doesn’t mean the plans must charge one. Below are a few programs that don’t have a deductible for prescription drugs. Some plans only have a deductible for Tier 3 and higher prescriptions.
It’s not surprising to see Aetna on top again; SilverScript is the most well-known drug plan available.
Wellcare again comes in right after Aetna. Wellcare is part of Centene Corporation. They are aggressively improving and adding new products and features that help Medicare beneficiaries.
UnitedHealthcare comes in third. They are the largest provider of Medicare coverage in the nation.
| PLAN | PREMIUM | DEDUCTIBLE | STAR RATING | GAP COVERAGE |
| Aetna | $54.80 | $0 | 3 | Yes |
| Wellcare | $68.90 | $0 | 3 | No |
| UnitedHealthcare | $97.40 | $0 | 3 | Yes |
| Farm Bureau | $100.20 | $0 | 3 | No |
| Bluerx | $144.10 | $0 | 3 | No |
Tennessee Medicare Part D plans with gap coverage
When beneficiaries fall into the coverage gap, they’re responsible for 25% of the cost of their prescriptions. Fortunately, some plans offer additional coverage in the gap.
UnitedHealthcare has a 4-star rated plan that’s affordable with gap coverage. This coverage helps beneficiaries who fall in the gap offset some costs when you fall in the donut hole.
Aetna comes in second in this category. Their plan not only offers coverage in the coverage gap but also has no deductible.
Cigna rounds out the top three. Cigna seems to have a niche regarding certain drugs they cover in the donut hole. Their plan only has a $100 deductible as well.
| PLAN | PREMIUM | DEDUCTIBLE | STAR RATING | GAP COVERAGE |
| UnitedHealthcare | $29.30 | $310 | 4 | Yes |
| Aetna | $54.80 | $0 | 3 | Yes |
| Cigna | $57.00 | $100 | 3 | Yes |
| UnitedHealthcare | $97.40 | $0 | 3 | Yes |
Low-Income Subsidy in Tennessee
The Low-Income Subsidy program helps low-income Medicare beneficiaries with their drug premiums. Of the 1,023,859 Medicare beneficiaries that reside in Tennessee, 176,161 qualify for full Low-Income Subsidy.
There are several levels for the Extra Help program, so it’s wise to speak to an insurance broker to see if you qualify for assistance. Shown below are a few Part D plans that’s premiums, and the Low-Income Subsidy program would pay deductibles for qualified beneficiaries/
Clear Spring, we mentioned earlier. They have a plan that the Extra Help program would completely pay for the premium and deductible. Despite the low star rating, many beneficiaries benefit from enrolling with Clear Spring.
Wellcare also plans to reduce to a zero premium if you qualify for the full Low-Income Subsidy. Remember, depending on your quality level, and the LIS program can also pay your entire deductible.
As you can see, Aetna, Cigna, and Humana are also on the list. All are well-known insurance companies that excel in the Medicare space.
| PLAN | PREMIUM | DEDUCTIBLE | STAR RATING | GAP COVERAGE |
| Clear Spring | $28.20 | $480 | 2 | No |
| Wellcare | $28.90 | $480 | 3 | No |
| Aetna | $29.70 | $480 | 3 | No |
| Cigna | $30.20 | $480 | 3 | No |
| Humana | $31.30 | $480 | 4 | No |
Amount of beneficiaries that fall into each Part D coverage phase
The Centers for Medicare and Medicaid Services regulate Part D prescription plans. These plans must have coverage as good or better than the standard model outlines.
The standard model has four drug plan phases:
- Deductible Phase: Up to a $480 deductible.
- Initial Coverage Phase: copays up to 25% of the cost of the prescription.
- Coverage Gap Phase: Also known as the Donut Hole. Once your drug cost reaches a certain amount, you’ll be required to pay 25% of the cost of your scripts.
- Catastrophic Phase: Once you’ve paid a certain amount out of pocket, you’re responsible for the greater of 5% of the cost of the scripts or $9.21 (Brand Name Drugs) and $3.70 (Generic Drugs)
The illustration below shows the amount of Tennessee Medicare beneficiaries that fell into each phase. You can see that the vast majority never get into the Donut Hole.
| Deductible Phase | Initial Coverage Phase | Coverage Gap Phase | Catastrophic Phase |
| 191,139 | 522,768 | 194,382 | 98,930 |
Cities in Tennessee with Medicare Supplemental coverage’s estimated premiums
Medigap plans are beneficial but do come with an extra monthly cost. Here are some charts for the following cities in Tennessee that illustrate projected premiums:
FAQs
When can I review and change my Tennessee Medicare Part D plan?
You can review and change your Part D coverage in the Annual Enrollment Period. This enrollment period occurs annually, starting October 15 and running through December 7. If you have certain life events, you could potentially have a Special Enrollment Period allowing you to change your coverage.
What company has the cheapest Tennessee Medicare Part D?
Aetna’s SilverScript company currently has the lowest premium of any Part D Prescription plan in Tennessee. The premium is $6.50. Wellcare has the second lowest at $12.90. Remember, the cheapest plan may or may not be the best for your situation. You should review your current prescriptions with a licensed insurance broker.
Does a higher premium Tennessee Prescription Drug Plan mean it’s better?
No! Since these plans have different ways, they cover prescriptions. The premium of the program isn’t relevant. It’s more important to ensure you take the plan that costs you less annually for the combined cost of the prescription and premium.
How to get help signing up for a Tennessee Medicare Part D plan
Medicare Drug plans are the most intricate part of Medicare. They cause the most confusion and headaches of any other aspect of Medicare. Fortunately, there is help. We can help ease the frustration involved with Part D plans and assist in finding the right coverage for what you need.
Not only can our licensed agents review your scripts and help you understand the coverage, but they can also assist you in every step of the process. Simply give us a call or fill out our online request form.
Help is only one click or calls away. Let our experts in the Medicare field alleviate any concerns you may have and help you get the coverage that’s best for you.
