Prescription Drug Plans (Part D)
Prescription Drug Plans, also known as Medicare Part D, help cover the cost of your medications. These plans are offered by private insurance companies approved by Medicare and are available to anyone with Medicare Part A and/or Part B.
You can get Part D in two ways:
- As a standalone plan to pair with Original Medicare or a Medicare Supplement.
- Built into a Medicare Advantage plan (MAPD).
What They Cover
- Medications your doctor prescribes and sends to a pharmacy
- A formulary (drug list) that organizes covered drugs into cost tiers
- Brand-name and generic drugs, depending on the plan
- Vaccines and certain preventive medications
How They Work
- Each plan has its own drug list, pharmacy network, and pricing.
- Drugs are grouped into tiers — lower tiers usually have lower copays.
- Plans have different stages of coverage:
- Deductible stage – you pay full cost until the deductible is met.
- Initial coverage – you pay a set copay or coinsurance.
- Coverage gap (donut hole) – your share of drug costs changes temporarily.
- Catastrophic coverage – after spending reaches a certain limit, you pay very little for the rest of the year.
Costs to Consider
- Monthly plan premium (varies by plan)
- Annual deductible (if applicable)
- Copays or coinsurance for each prescription
- Costs may be lower at preferred pharmacies
Who It’s Best For
- Anyone on Original Medicare who needs prescription medications
- People who want protection from high drug costs in the future
- Those who want the flexibility to choose from multiple pharmacy options
Not sure which drug plan is right for you?
We can compare plans side-by-side to ensure your prescriptions are covered at the best cost — so you avoid expensive surprises at the pharmacy.