PRESCRIPTION DRUG INSURANCE
Florida
Prescription drug insurance is essential as many prescription drugs are expensive and can cost thousands of dollars per month.
Steve Turner
Insurance Specialist
Serving Florida
Do I Need Prescription Drug Insurance?
Yes, prescription drug insurance can be important because many prescription drugs are expensive and can cost thousands of dollars per month. Prescription drug insurance can help lower pharmacy costs and make it easier to get medications.
It’s important to evaluate your healthcare needs and preferences when considering a Medicare Advantage plan, Medicare Supplement plan or Prescription Drug plan.
Here’s how I can help. Before you enroll in a prescription drug plan, I’ll do a complimentary needs analysis and carefully review the plan’s benefits and costs with you. There’s no obligation to buy anything. After our consultation, if you decide to choose me as your Agent, you won’t have to call an (800) number anymore. If you have questions, concerns, or issues about your Prescription Drug plan throughout the year, you can contact me directly.
HOW I CAN HELP YOU
Florida
KEY DETAILS
Enrollment:
To receive coverage for prescription drugs, you must enroll in Medicare Part D. You can do this during your initial enrollment period or during the annual open enrollment period, which typically runs from October 15th to December 7th each year.
Plan Types:
There are two main types of Medicare Part D plans: standalone prescription drug plans (PDPs) and Medicare Advantage Prescription Drug (MA-PD) plans.
PDPs work with Original Medicare, while MA-PD plans to combine prescription drug coverage with other health benefits private insurance companies offer.
Cost:
Medicare Part D plan costs can vary depending on the plan you choose, your income, and the medications you take.
Most plans have a monthly premium, an annual deductible, copayments or coinsurance, and a coverage gap known as the “donut hole.”
Formulary:
Each Part D plan has a formulary and a list of prescription drugs that the plan covers. Formularies can vary between plans, so choosing a plan that covers the medications you need is important.
Coverage Gap:
If your total drug costs reach a certain threshold each year, you may enter the coverage gap (or “donut hole”), where you will be responsible for a larger portion of the cost of your medications.
In 2023, the coverage gap begins after you and your plan have spent $4,660 on covered drugs.
In 2025, the coverage gap goes away.
Catastrophic Coverage:
Once you reach a certain out-of-pocket threshold, you will enter what is known as catastrophic coverage.
At this point, your plan will pay for most of your remaining drug costs for the rest of the year.
Extra Help:
If you have limited income and resources, you may be eligible for extra help to pay for your Medicare Part D premiums, deductibles, and copayments.
ADVANTAGES
DISADVANTAGES
PRESCRIPTION DRUG FAQ
Florida
WHAT ME CLIENTS SAY ABOUT ME
Florida
INSURANCE OFFERINGS
Florida
HEALTH INSURANCE
MEDICARE ADVANTAGE
MEDICARE SUPPLEMENT
PRESCRIPTION DRUGS
LIFE INSURANCE
DISABILITY INSURANCE
DENTAL INSURANCE
GROUP HEALTH INSURANCE
ACCIDENT INSURANCE
QUESTIONS? CONTACT ME
I’m here to take your calls and emails and respond to your questions Monday through Friday from 9:00 a.m. to 5:00 p.m., excluding posted holidays.
EMAIL ME: 24×7
OFFICE LOCATION
STEVE TURNER INSURANCE SPECIALIST
14502 N DALE MABRY HWY
SUITE 200
TAMPA, FL 33618
