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.
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, $10) you pay each time you fill a drug.
Coinsurance - A percentage (for example, 10%) you pay for your prescription drugs.
Premium - A fixed, monthly amount you pay for your PDP coverage.
Overview of Florida Blue Medicare Prescription Drug Plans
Part D Formulary
What is a formulary?
A formulary is the list of drugs, from brand-name to generic, that are covered by a Medicare Prescription Drug Plan. Covered drugs and costs vary from plan to plan.
Many plans have a tiered formulary, where drugs are divided into groups called "tiers" based on their cost.
In general, the lower the formulary tier, the lower the cost to you.
Generic drugs typically are on Tiers 1 and 2.
Part D Formulary Tiers:
|Tier 5 (Specialty)||$ $ $ $ $|
|Tier 4 (Non-Preferred)||$ $ $ $|
|Tier 3 (Preferred Brand)||$ $ $|
|Tier 2 (Generics)||$ $|
|Tier 1 (Preferred Generics)||$|
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