Medicare Prescription Drug Coverage
Information about Medicare Part D prescription drug coverage options.
What is Medicare Part D Prescription Drug Coverage?
Prescription drug coverage is an important component of Medicare benefits. Original Medicare (Parts A and B) does not include prescription drug coverage. Medicare Part D provides prescription drug benefits through private insurance companies approved by Medicare.
Medicare beneficiaries can:
- Enroll in a standalone Part D drug plan that supplements Original Medicare
- Choose a Medicare Advantage plan that includes Part D drug coverage
- Select a standalone Part D drug plan to accompany a Medicare Supplement plan
Understanding Part D Coverage Stages
Annual Deductible
You pay the full cost of your drugs until you reach your plan's deductible amount. Some plans have no deductible.
Initial Coverage
After meeting your deductible, you pay a copayment or coinsurance for each prescription until your total drug costs reach a certain limit.
Coverage Gap (Donut Hole)
Once you reach the coverage gap, you pay no more than 25% of the cost for brand-name and generic drugs until you reach the catastrophic coverage threshold.
Catastrophic Coverage
After your out-of-pocket costs reach a certain limit, you pay a small coinsurance or copayment for covered drugs for the rest of the year.
Questions about Medicare Part D prescription drug coverage?
Speak to a licensed insurance agentMedicare Annual Enrollment Period
October 15 - December 7
The Annual Enrollment Period is an opportunity to review Medicare coverage for the upcoming year. Licensed insurance agents can provide information about Medicare Advantage plan options and coverage comparisons.