Stand-Alone Prescription Drug Plans Can Help Reduce Your Costs for Medications
Medicare Part D Prescription Drug Plans (PDP) help people with Medicare afford prescription drugs since Original Medicare doesn’t cover medications. If you have Original Medicare, you may want a PDP to get coverage for your drugs. Medicare Part D plans are sold by private insurance companies, like Florida Blue.
Florida Blue offers two stand-alone Medicare Prescription Drug Plans (Part D).
Premier Rx and Complete Rx cover:
Many generic and brand-name drugs with predictable copayments
May include preferred pharmacies for lower cost-sharing
An extensive list of plan-covered drugs (formulary)
May include a low-cost mail-order pharmacy service for free home delivery of your medications
A nationwide pharmacy network
Costs for Medicare Prescription Drug Plan Coverage
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, and whether you go to an in-network preferred or standard pharmacy.
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, $10) you pay each time you fill a drug.
Coinsurance - A percentage (for example, 10%) you pay for your prescription drugs.
Premium - A fixed, monthly amount you pay for your PDP coverage.
2021 Medicare Part D Stages
Overview of Florida Blue Medicare Prescription Drug Plans
Part D Formulary
What is a formulary?
A formulary is the list of drugs, from brand-name to generic, that are covered by a Medicare Prescription Drug Plan. Covered drugs and costs vary from plan to plan.
Many plans have a tiered formulary, where drugs are divided into groups called "tiers" based on their cost.
In general, the lower the formulary tier, the lower the cost to you.
Generic drugs typically fall between Tiers 1 and 2.
Part D Formulary Tiers:
|Tier 5 (Specialty)||$ $ $ $ $|
|Tier 4 (Non-Preferred)||$ $ $ $|
|Tier 3 (Preferred Brand)||$ $ $|
|Tier 2 (Generics)||$ $|
|Tier 1 (Preferred Generics)||$|
Have questions about Medicare Prescription Drug (Part D) plans? Request a call from a licensed agent.
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