Three ways to get Medicare Part D coverage
Add Part D coverage to your Original Medicare Parts A and B coverage with a stand-alone Medicare Prescription Drug Plan (PDP).
Choose the convenience of a Medicare Advantage Prescription Drug Plan (MAPD) that includes both medical and prescription drug benefits.
What does a Medicare Part D plan cost?
Like Original Medicare, Medicare Prescription Drug (PDP) plans share the cost of care through deductibles, co-payments (copays) and co-insurance. Your actual PDP costs will vary depending on the plan chosen, prescription drugs you use, whether the drugs you use are on your plan's formulary.
Different types of costs for a Medicare Part D plan:
Deductible - The amount you pay before Original Medicare begins to pay its share of the cost.
Copay - A flat dollar amount (for example, $10) you pay each time you fill a drug.
Coinsurance - A percentage (for example, 10%) you pay for your prescription drugs.
Premium - A fixed, monthly amount you pay for your PDP coverage.
Overview of 2023 Florida Blue Medicare Prescription Drug Plans
Medicare Part D Formulary
What is a formulary?
A formulary is the list of drugs, from brand-name to generic, that are covered by a Medicare Prescription Drug Plan. Covered drugs and costs vary from plan to plan.
- Many plans have a tiered formulary, where drugs are divided into groups called "tiers" based on their cost.
- In general, the lower the formulary tier, the lower the cost to you.
- Generic drugs typically are on Tiers 1 and 2.
Part D formulary tiers:
|Tier 5 (Specialty)||$ $ $ $ $|
|Tier 4 (Non-Preferred)||$ $ $ $|
|Tier 3 (Preferred Brand)||$ $ $|
|Tier 2 (Generics)||$ $|
|Tier 1 (Preferred Generics)||$ $|
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