Medicare Part D Plans in Florida

Florida Medicare
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What are Medicare Part D plans in Florida?

Medicare beneficiaries in Florida may be interested in a Medicare Part D plan if they require prescription drug coverage. Original Medicare (Part A and Part B) does not provide this benefit, so enrolling in a stand-alone Prescription Drug Plan (PDP) may be necessary for those who take medications regularly. In order to be eligible for Medicare Part D plans in Florida, beneficiaries must be enrolled in the Medicare program.

According to the Kaiser Family Foundation, 33% of Medicare beneficiaries in Florida purchased a stand-alone PDP to cover their prescription drug needs in 2012. Medicare Part D plans in Florida may be purchased in addition to a beneficiary's existing Original Medicare (Part A and Part B) coverage, Medicare Supplement (Medigap) plan, or certain Medicare Advantage plans without prescription drug coverage. Part D plans are purchased through private insurance companies. The cost and specifics of each plan may vary depending on the insurance company.

Some Medicare Part D plans in Florida have a coverage gap, also known as the Medicare “donut hole.” During the donut hole , the beneficiary is responsible for the complete out-of-pocket cost of their prescription drug costs until the maximum out-of-pocket limit is reached. However, there are discounts available to beneficiaries who have fallen into the Medicare donut hole for brand name and generic drugs . Once the out-of-pocket limit is reached, the beneficiary is then responsible for a small copayment or coinsurance for the remainder of the calendar year.

For beneficiaries looking to roll all Medicare coverage under one umbrella, there is the option to join a Medicare Advantage Prescription Drug (MAPD) plan. These plans combine Original Medicare coverage with Part D prescription drug coverage into one plan. MAPD plans effectively replace the coverage of Medicare Part A and Part B, although the beneficiary is still responsible for paying their Part B premium (as well as Part A premium, if they are required to pay one). These plans are offered through private insurance companies approved by Medicare.

It may be beneficial to enroll in a Medicare Part D plan in Florida when you first enroll in Medicare to avoid potential late enrollment penalties from the government.

Medicare has neither reviewed nor endorsed this information.