Q1Group Analysis Shows 69% of Florida Seniors Can Expect to Pay Higher Monthly Premiums for Their 2015 Stand-alone Medicare Part D Drug Plans

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An analysis by Q1Group shows that 69% of Florida seniors can expect to see their 2015 stand-alone prescription drug plan premiums increase by $7.25 per month unless they switch to a lower premium 2015 Medicare Part D or Medicare Advantage plan.

Changes in the number of Florida stand-alone Medicare Part D prescription drug plans (PDPs) 2007-2015

Changes in the number of Florida stand-alone Medicare Part D plans

Q1Group analysis of the 2015 Medicare Part D landscape data released by the Centers for Medicare and Medicaid Services (CMS) shows that 69% of Florida seniors and other Medicare beneficiaries enrolled in a stand-alone Medicare Part D plan will face increases in their 2015 Medicare Part D plan premiums.

The premium increase should effect approximately 737,000 Floridians who will see an average increase in monthly 2015 Medicare Part D premiums of $7.25, unless they chose to enroll in a lower premium 2015 Medicare prescription drug or Medicare Advantage plan.

As can be seen on PDP-Facts.com/2015/FL, Florida seniors will also have fewer stand-alone Medicare Part D plans choices in 2015. Across the state, Floridians will lose eight Medicare Part D prescription drug plan options, having 27 stand-alone 2015 Medicare Part D plans offered as compared to the 35 prescription-only plans offered in 2014. This means that a number of 2014 Medicare Part D plans will no longer be offered in 2015.

Medicare beneficiaries who are currently enrolled in a Medicare plan that is not being offered in 2015 need to review their Medicare Part D plan’s Annual Notice of Change (or ANOC) letter to see if they will be automatically moved to another 2015 prescription drug plan or whether they need to actively choose a new 2015 Medicare Part D plan. Florida residents can use the Q1Medicare PDP-Compare tool to learn more about availability and changes in their 2015 stand-alone Medicare Part D plan coverage: PDP-Compare.com/2015/FL.

Although fewer stand-alone Part D plans are offered in 2015, Florida seniors will still have a number of low-premium 2015 plan options with five 2015 Medicare Part D plans and many Medicare Advantage plans that include prescription drugs coverage (MAPDs) being offered with monthly premiums under $25.

The lowest premium 2015 Medicare Part D plan will again be the Humana Walmart Rx plan at $15.70, up from the 2014 premium of $12.60. The lowest costing Medicare Part D plan with a $0 deductible will be the SilverScript Choice (PDP) plan at $20.60. All 2015 Florida Medicare Part D plans can be viewed at PDP-Finder.com/2015/FL.

In 2015, fewer 2015 Medicare Part D plans will offer any form coverage for drug purchases made in the 2015 Donut Hole. However, even without Donut Hole coverage, seniors who reach the Coverage Gap portion of their 2015 Medicare Part D plan will receive a 55% discount on brand-name drugs and a 35% discount on generic drugs.

Low-income Florida Medicare beneficiaries who qualify for full "Extra Help" will find fewer 2015 Part D plans qualifying for the $0 premium Low-Income Subsidy as compared to last year. Four 2015 Medicare Part D plans will qualify for the full $0 premium Low-Income Subsidy as compared to the five LIS-qualifying Part D plans in 2014.

Q1Medicare.com online tools such as the PDP-Facts, PDP-Finder, and PDP-Compare are available to all site visitors at no cost and designed for PC, smartphone, and tablet platforms.

Q1Medicare.com reminds seniors and other Medicare beneficiaries that they can enroll in a 2015 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.com offers a large selection of Frequently Asked Questions, online tools, a Medicare Part D Blog, 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).

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Susan Johnson MS-MIS, MBA, PhD
Q1Group LLC
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