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Medicare Prescription Drug Plans in Florida

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Medicare beneficiaries in Florida may have options when choosing prescription drug coverage. A stand-alone Medicare Part D Prescription Drug Plan is one such option. Costs associated with Medicare Prescription Drug Plans in Florida, as in other states, may vary among plans, but most require payment of a monthly premium, an annual deductible, and copayment or coinsurance.

How Medicare prescription drug coverage works in Florida

Medicare prescription drug coverage is available through the Medicare Part D program. Under Part D, private insurance companies that contract with Medicare offer stand-alone Prescription Drug Plans, which are designed to help cover your medication costs. In Florida, as in other states,  prescription drug coverage is optional, but be aware that Original Medicare (Part A and Part B) offers only limited prescription drug coverage, and doesn’t cover most medications you take at home.


Each Medicare Prescription Drug Plan has its own list of covered prescription drugs, called a formulary. Covered prescription drugs are sorted into different categories called tiers, each with a different cost. Drugs in the lowest tier usually cost the least, while drugs in the higher tier cost more. If your doctor or health provider decides you need a higher-tier drug to treat your health condition, you might be able to get it for a lower cost by requesting a formulary exception from your plan.

Formularies usually include both brand-name and generic prescription drugs. Many brand-name drugs have generic equivalents. The U.S. Food and Drug Administration defines brand-name drugs as those “marketed under a proprietary, trademark-protected name,” and generic drugs as medications equivalent to brand-name drugs in “dosage, safety, strength, how it is taken, quality, performance, and intended use.” Generic drugs tend to cost less than brand-name drugs and can result in significantly lower out-of-pocket expenses. If the generic version of your brand-name prescription drug is unavailable, there may be a similar generic drug that could work just as well for your health condition. Make sure you discuss all prescription drug options with your doctor.

Eligibility and enrollment

Here are some rules to be aware of before enrolling in a Medicare Prescription Drug Plan in Florida (or any state):

  • You need to have or be eligible for Medicare Part A (hospital insurance) and/or Medicare Part B (medical insurance).
  • You must live in the service area of your plan.
  • You can sign up during your Initial Enrollment Period. For most people, this is the seven-month period that starts three months before you turn 65, includes your birth month, and ends three months after the month you turn 65.
  • If you’re receiving disability benefits from the Social Security Administration or the Railroad Retirement Board, your Initial Enrollment Period is usually the seven-month period that starts three months before your 25th month of disability, includes the month your disability benefits start, and ends three months after that month.
  • You can also enroll in a Medicare Prescription Drug Plan in Florida during the Annual Election Period, which runs from October 15 to December 7 each year. During this period, you can also switch prescription drug plans, switch to a Medicare Advantage plan, switch Medicare Advantage plans, or return to Original Medicare.
  • If you’re enrolled in a Medicare Advantage plan and decide to switch to Original Medicare, you can also do so during the Medicare Advantage Open Enrollment Period, which runs from January 1 to March 31 each year. In Florida, as in other states, you also have until March 31 to enroll in a Medicare Prescription Drug Plan or Medicare Advantage Prescription Drug Plan.

Medicare Part D late-enrollment penalty

In Florida, as in other states, you could be subject to a lifetime late-enrollment penalty for Medicare Part D if you don’t sign up during your Initial Enrollment Period and then add this coverage later on – the penalty could apply as long as you have prescription drug coverage. One way to avoid this penalty (even if you delay Part D enrollment) is to make sure you have continuous creditable drug coverage. This is coverage that pays, on average, at least as well as Medicare is expected to pay for standard drug coverage. If you go without creditable drug coverage for 63 days or more, you’re likely to face this penalty. The late enrollment penalty is calculated using 1% of the national base beneficiary premium ($32.74 in 2020) and the number of full months you were eligible for Part D but didn’t join. Medicare adds this amount to your Part D monthly premium. Remember that the national base beneficiary premium may increase each year, which means your late enrollment penalty may also increase.

It’s important for you to know that if you choose to enroll in a Medicare Prescription Drug Plan, you are still enrolled in Original Medicare and must continue paying your Medicare Part B premium so you won’t lose your health coverage.

Another option for Medicare prescription drug coverage in Florida

If you’d like a different way to receive Medicare prescription drug coverage in Florida, you might consider a Medicare Advantage Prescription Drug plan. With this kind of plan, you get your Original Medicare, Part A and Part B, benefits through a private health insurer that contracts with Medicare. Hospice benefits are still covered directly under Part A and not through the Medicare Advantage plan.

A Medicare Advantage Prescription Drug plan combines health and prescription drug coverage into one private insurance policy, and sometimes includes additional benefits such as routine vision, hearing, and dental services, all in one plan.

If you decide to enroll in a Medicare Advantage Prescription Drug plan, remember that you need to be enrolled in Original Medicare, Part A and Part B. You’ll pay the plan’s premium (if it has one) in addition to your Original Medicare premium(s).

Tips for deciding on a Medicare Prescription Drug Plan

After reading all this information, how can you decide whether to add prescription drug coverage under Medicare Part D, and which plan to sign up for? You may want to consider these:

  • Start with a list of your current prescription medications. Make sure the plan you enroll in covers them.
  • If you and your doctor believe you’ll need more medications in the future, keep that in mind as well.
  • If you don’t take medications now, you might not need prescription drug benefits–but keep in mind that you could face a late-enrollment penalty if you add this coverage later.
  • Even if you already have Medicare prescription drug coverage, it’s always a good idea to review your plan’s coverage at the end of the year to keep abreast of any important changes. In Florida, as in other states, Medicare Prescription Drug Plans are allowed to change their premiums, copayments/coinsurance, and deductibles (up to a Medicare-imposed maximum) every year, so your current plan may not be the one best suited to your health needs the following year.
  • Note that a plan’s formulary may change at any time. You will receive notice from your plan when necessary.

Medicare prescription drug plans available in Florida

Medicare drug plan availability and costs vary. To start comparing plans in your area, just enter your zip code where indicated on this page; you can even enter your prescription medications to limit your search to plans that may cover them.

You can also view the following pages for more information on other types of Medicare coverage in Florida: