We found the 23 best Medicare Part D Plans in Florida for 2023.
- The average A premium is an amount that an insurance policyholder must pay for coverage. Premiums are typically paid on a monthly basis. In the federal Medicare program, there are four different types of premiums. is $56.91 per month, however the lowest premium is just $8.40.
- The average drug plan A deductible is an amount a beneficiary must pay for their health care expenses before the health insurance policy begins to pay its share. is $384 per year, but 4 plans have a zero-dollar deductible.
- Medicare rated 0% of all plans available in Florida 4 stars or higher.
- There are 9 basic benefit plans and 14 enhanced benefit plans.
- A total of 4 plans offer full Social Security's Low-Income Subsidy (LIS) program helps Medicare beneficiaries pay for their Medicare Part D prescription drugs by paying some of the costs. Also known as "Extra Help", beneficiaries who qualify for LIS receive premium... (LIS) for those who qualify.
- There are 5 plans that have additional coverage in the coverage gap phase (aka, "donut hole").
We also ranked the best Medicare Advantage plans with Part D in Florida for 2023.
Florida Medicare Part D Plans
|Plan Name||Premium||Deductible||Benefit Type||LIS||Gap
|AARP MedicareRx Preferred||$109.60||$0||Enhanced||No||Yes||Yes|
|AARP MedicareRx Saver Plus||$64.40||$505||Basic||No||No||No|
|AARP MedicareRx Walgreens||$28.20||$350||Enhanced||No||No||No|
|BlueMedicare Complete Rx||$170.10||$0||Enhanced||No||Yes||Yes|
|BlueMedicare Premier Rx||$80.40||$505||Basic||No||No||No|
|Cigna Extra Rx||$70.50||$100||Enhanced||No||Yes||Yes|
|Cigna Saver Rx||$13.50||$505||Enhanced||No||No||No|
|Cigna Secure Rx||$33.80||$505||Basic||Yes||No||No|
|Clear Spring Health Premier Rx||$20.80||$505||Enhanced||No||No||No|
|Clear Spring Health Value Rx||$29.60||$505||Basic||Yes||No||No|
|Humana Basic Rx Plan||$64.30||$505||Basic||No||No||No|
|Humana Premier Rx Plan||$83.40||$300||Enhanced||No||Yes||Yes|
|Humana Walmart Value Rx Plan||$36.50||$505||Enhanced||No||No||No|
|Mutual of Omaha Rx Essential||$20.20||$505||Enhanced||No||No||No|
|Mutual of Omaha Rx Plus||$91.30||$505||Basic||No||No||No|
|Mutual of Omaha Rx Premier||$95.80||$505||Enhanced||No||No||Yes|
|Wellcare Medicare Rx Value Plus||$71.30||$0||Enhanced||No||No||No|
|Wellcare Value Script||$11.20||$505||Enhanced||No||No||Yes|
The Four Phases of Every Florida Medicare Part D Plan
Medicare Part D plans are an option Medicare beneficiaries can use to get prescription drug coverage. Part D plans provide cost-sharing on covered medications in four different phases: deductible, initial coverage, coverage gap, and catastrophic. Each... are designed to help Medicare beneficiaries pay for their prescription drugs. Some of the cost-sharing concepts of these plans are foreign to new Medicare beneficiaries, so let's look at the four phases.
The Deductible Phase
A Medicare Part D plan's deductible is the amount you pay out-of-pocket before the initial coverage phase begins and the plan begins paying its share. So, if you enroll in a plan with a $225 deductible, you'll spend that much at the pharmacy for your prescriptions. After that amount, you will pay the A copayment, also known as a copay, is a set dollar amount you are required to pay for a medical service. amount only until you reach the A period of time in which you pay higher cost-sharing for prescription drugs until you spend enough to qualify for catastrophic coverage.. Most Medicare prescription drug plans have a deductible, however, many plans exclude Tier 1 drugs from the deductible, which gives you first-dollar coverage on most lower-cost medications.
NOTE: The maximum Part D plan deductible in 2023 is $505.
Phase 2 is the Initial Coverage Limit
The Part D ICL (Initial Coverage Limit) for 2023 is $4,660. During the ICL phase, your Part D plan will cover the majority of your prescription costs. If your prescription costs exceed $4,660 you go into the coverage gap phase ("donut hole")
Phase 3 is the Coverage Gap
After your gross drug costs have reached $4,660, you will enter the Coverage Gap phase. This is where you will pay 25% of your medication's retail cost. While the price of A generic drug is a prescription medication that has the same active ingredient formula as a brand-name drug. Generic drugs usually cost less than brand-name drugs. might not be much different, what you pay for brand-name drugs will be higher (because you're paying 25% of the full price). This will continue until you reach $7,400 in True Out Of Pocket Costs (TrOOP).
Some plans offer additional gap coverage, so look for it on the plan information pages.
Catastrophic Coverage is the Fourth Phase
Once you've spent $7,400 out-of-pocket you are out of the coverage gap phase and will receive catastrophic coverage. This happens automatically and ensures that you only pay a small amount for all covered drugs for the remainder of the year.
The Out-of-Pocket Costs for Medicare are the remaining costs that are not covered by the beneficiary's health insurance plan. These costs can come from the beneficiary's monthly premiums, deductibles, coinsurance, and copayments. that help you get catastrophic coverage include:
- Your plan's deductible;
- What you paid during the Once you have met your yearly deductible, you will pay a copayment or coinsurance for each covered drug until you reach the initial coverage limit. You will then enter your plan’s coverage gap (aka, “donut... period;
- Most of the full cost of brand-name drugs (and the manufacturer’s discount) purchased in the coverage gap;
- The amount paid by others, including family members, most charities, and other persons on your behalf; and
- The amount paid by State Pharmaceutical Assistance Programs (SPAPs), AIDS Drug Assistance Programs, and the Indian Health Service.
The Lowest Premium May Not Be the Lowest Overall Cost
Don't make a decision on your choice of Part D Medicare plans based on the premium and deductible alone. It's critical that you verify that your medications are covered. You find this information, and the co-payment tiers, in the A formulary is a list of prescription drugs covered by a prescription drug plan or another insurance plan offering prescription drug benefits. Medications not on a plan's formulary are generally not covered.. On each PDP page (above) we post links to the formulary and pharmacy web pages, and the phone numbers to contact the plan.
CRITICAL: The best Medicare Part D Plans for you can only be determined by factoring in what you can afford, your regular prescriptions, and your health. A bit of time spent on research will pay off in the long run.
Get Your Prescriptions and More with a Medicare Advantage Plan
There's more than one way to get prescription drug coverage with your Medicare benefits. The first way is by enrolling in one of the Medicare prescription drug plans available in Florida. The second way is to get prescription coverage through one of the many Florida Medicare Advantage Plans that include Part D benefits. Most Medicare Advantage (MA), also known as Medicare Part C, are health plans from private insurance companies that are available to people eligible for Original Medicare (Medicare Part A and Medicare Part B). available in Florida include Part D as an additional benefit.
Medicare Part D and Medicare Supplements Work Together
Medicare does not pay for all of your hospitalization and medical bills. In fact, Original Medicare is private fee-for-service health insurance for people on Medicare. It has two parts. Part A is hospital coverage. Part B is medical coverage. only covers about 80 percent of your major medical costs. We keep an up-to-date directory of Florida Medigap Plans, also called Medicare Supplements are additional insurance policies that Medicare beneficiaries can purchase to cover the gaps in their Original Medicare (Medicare Part A and Medicare Part B) health insurance coverage., with the tools you need to find the best price and coverage. Medicare Part D plans are fully compatible with Florida Medigap plans.
Medicare Part D for Dual Eligible People in Florida
In Florida, if you are eligible for both Medicare and Medicaid (aka, "dual eligible" or "Medi-Medi") you will automatically be enrolled in a Florida Medicare Prescription Drug Plan and the Social Security Extra Help program. Extra Help pays for most of the costs of your prescriptions if you meet the eligibility requirements. You may also enroll in a plan of your own choosing that better meets your needs. If you qualified for Medicaid is a public health insurance program that provides health care coverage to low-income families and individuals in the United States. before you were eligible for Medicare, contact your local Medicaid office.
Citations & References
- Medicare.gov, "Drug coverage (part D)", Last Accessed September 21, 2022
- Medicare.gov, "What Medicare Part D drug plans cover", Last Accessed August 1, 2022
- Medicare.gov, "Medicare costs at a glance", Last Accessed September 11, 2022
- Medicare.gov, "What's Medicare Supplement Insurance (Medigap)?", Last Accessed June 7, 2022
- SSA.gov, "Extra Help with Medicare Prescription Drug Plan Costs", Last Accessed June 1, 2022
- CMS.gov, "Landscape Source Files", Last Accessed October 18, 2022
- CMS.gov, "Medicare Part C & D Performance", Last Accessed October 15, 2022
This Medicare Part D plan state information page was last updated on .