Prescription Drug Plans
Prescription Drug Plans
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Medicare Part D: Prescription Drug Plans cover some of the costs of your prescription drugs through a pharmacy of your choice. Plans are sold by private companies. There are two ways to enroll:
Add a plan to Original Medicare.
Choose a Medicare Advantage Plan that includes coverage for prescription drugs.
Costs of Part D Coverage
Costs of Part D Coverage
Drug plans have the following costs that need to be considered when choosing a plan:
Monthly premium - Must be paid to keep the policy in force. This can range from $0 up to more than $100 per month.
Yearly deductible - Paid before the plan starts paying for your prescriptions. The maximum is set yearly by the government (in 2026, it's $615).
Copayments or coinsurance - Paid after the deductible is satisfied. This could be very low for common, generic drugs (e.g., $0 or $10 per prescription) or much higher for brand name or specialty drugs.
Cap on prescriptions - You will not pay more than $2100 out-of-pocket for your medications; once you reach that limit, you pay $0 for the rest of the calendar year.
Ways to Save on Drugs
Ways to Save on Drugs
Choose your plan wisely - This is where it is well worth having an independent insurance agent like me who can help you find the plan in your area that costs the least for all of your current medications.
Manufacturer's Discount - Check the manufacturer's site to see if there are discounts available for your medications.
Check for coupons or other options. As your agent, I can help you explore coupons and other options for getting your medications at a lower price.
In 2025, the Coverage Gap, or Donut Hole, was eliminated.
If you have questions about prescription drug coverage, click the LEARN MORE button to the right to get started.
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