Insurance Plans
Medicare Part D — Prescription Drug Coverage
The right Part D plan can save you hundreds of dollars a year on medications. We'll find it for you.
Medicare Part D is the prescription drug benefit available to everyone with Medicare. It's offered through private insurance companies approved by Medicare, and plans vary significantly in cost, formulary (drug list), and pharmacy networks. Choosing the wrong plan — or skipping it entirely — can be an expensive mistake.
- Covers brand-name and generic prescription drugs
- Plans vary — comparing formularies can save hundreds per year
- Enroll even if you take no medications to avoid the late penalty
How Part D Works
Deductible Phase
You pay 100% of drug costs until you meet your plan's annual deductible (up to $590 in 2025). Many plans waive the deductible for Tier 1 and Tier 2 drugs.
Initial Coverage Phase
After your deductible, you pay your plan's copay or coinsurance for each prescription. Your plan pays the rest.
Catastrophic Coverage Phase
Once your total out-of-pocket drug costs reach $2,000 in 2025, you pay $0 for the rest of the year — a major improvement under the Inflation Reduction Act.
The Part D Late Enrollment Penalty
If you go 63 or more consecutive days without creditable prescription drug coverage after becoming eligible for Medicare, you'll pay a permanent late enrollment penalty added to your monthly premium for as long as you have Part D.
Even if you take no medications today, enrolling in a low-cost Part D plan protects you from this permanent penalty.
Smart Part D Shopping Tips
Run a formulary check every year
Drug formularies change annually. A medication covered at Tier 2 this year may move to Tier 3 next year — doubling your cost. We review your drug list every open enrollment.
Check your preferred pharmacy
Part D plans have preferred pharmacy networks. Using a preferred pharmacy can cut your copays significantly compared to a non-preferred pharmacy.
Compare total annual cost, not just premium
A $0 premium plan with high drug copays often costs more than a $30/month plan with lower copays. We calculate your total annual drug cost across all available plans.
Extra Help (LIS) may be available
If your income and resources are below certain limits, you may qualify for Extra Help — a federal program that reduces Part D premiums, deductibles, and copays to near zero.
Free Part D Drug Plan Comparison
Give us your medication list and we'll find the plan that minimizes your total annual drug costs.