Q1Medicare Analysis Shows 88% of Florida Seniors Can Expect to Pay Higher 2014 Medicare Part D Drug Plan Premiums
Saint Augustine, Florida (PRWEB) October 12, 2013 -- An analysis of the 2014 Medicare landscape data by Q1Medicare shows that 88% of Florida seniors and other Medicare beneficiaries enrolled in a stand-alone Medicare Part D plan will face an increase in their 2014 Medicare Part D plan premiums. This means that approximately 950,000 people will see an average increase in monthly premiums of $6.45 in 2014, unless they chose to enroll in a lower costing prescription drug or Medicare Advantage plan.
As can be seen on PDP-Facts.com/FL, Florida seniors will have fewer stand-alone Medicare Part D plans choices in 2014. Across the state, Floridians lost five Medicare Part D prescription drug plan options. However, with six Medicare Part D plans and many Medicare Advantage plans with prescription drug coverage offered for under $25, Florida seniors still have many low cost 2014 coverage options. All Florida Medicare Part D plans can be viewed at PDP-Finder.com/FL.
Medicare plan formularies (or drug lists) will also change in 2014. Five Florida stand-alone Prescription drug plans will increase the size of their formulary, while 20 Part D plans will reduce the size of their formulary.
Florida Medicare beneficiaries who qualify for full "Extra Help" will find that more 2014 Part D plans qualify for the $0 premium Low-Income Subsidy as compared to last year. In 2013, only 2 Medicare Part D plans qualified for the $0 premium Low-Income Subsidy as compared to 5 Part D plans in 2014.
Florida residents can use the Q1Medicare PDP-Compare tool to learn more about changes in their 2014 stand-alone Medicare Part D plan coverage. PDP-Compare is available at PDP-Compare.com/FL.
Residents of some Florida counties will also see changes in 2014 Medicare Advantage plan availability. For example, Broward County had the largest decrease in Medicare Advantage plans, down seven plans from 2013 to 81 Medicare Advantage plans in 2014. Miami-Dade County, having the highest concentration of seniors in Florida, will lose three plan choices for 2014. Florida residents can use the Q1Medicare MA-Compare.com tool to learn more about changes in 2014 Medicare Advantage plan coverage and availability.
Q1Medicare.com online tools are available to all site visitors at no cost and designed for computer, smartphone, and tablet platforms.
Q1Medicare.com reminds seniors and other Medicare beneficiaries that they can enroll in a 2014 Medicare Part D prescription drug plan or Medicare Advantage plan during the annual Open Enrollment Period starting October 15th and continuing through December 7th.
About the Q1Medicare.com Website
Q1Medicare.com is one of the largest independent online resources for Medicare Part D prescription drug plan and Medicare Advantage plan information. Q1Medicare offers a large selection of Frequently Asked Questions, online tools, and a free Medicare Part D Newsletter all designed to help Medicare beneficiaries, healthcare professionals, advocates, advisers, caregivers, and insurance agents better understand both the Medicare Part D prescription drug and Medicare Advantage programs. Q1Medicare.com is operated by Q1Group LLC (Saint Augustine, Florida).
Dr. Susan Johnson, Q1Group LLC, http://bit.ly/15ZvAUK, (904) 461-8994, [email protected]
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