Medicare Part D Costs

Most Part D plans work on a cost sharing basis. That means part of your Medicare Part D costs are paid by your plan and shared by you. When considering a Part D plan, look closely at what your specific out-of-pocket costs will be, such as:

  • What your Medicare Part D copay will be when you fill a prescription
  • Whether you will pay a Medicare coinsurance rather than a copay
  • What your Medicare Part D premium is for your service area
  • Whether you will pay a Part D deductible before cost sharing begins
  • What your costs will be during the Initial Coverage stage
  • How your costs will change if you reach the Medicare Part D Coverage Gap
  • How your costs will change if you reach Catastrophic Coverage

Remember, not all Medicare Part D plans have the same cost structures. Be sure to compare coverage options and out-of-pocket costs to ensure the plan fits your budget as well as your prescription needs.