Medicare Part D
Prescription drug coverage can help make
your medications more affordable.
How Medicare Part D Works
Part D plans offer prescription drug coverage. These plans may help cover the cost of medications, but coverage and costs vary by plan. Each plan has its own list of covered drugs, called a formulary, and a network of participating pharmacies.
A Little More About Part D
When comparing prescription drug plans, it helps to look beyond the monthly premium. These details can affect what you pay and where you can fill prescriptions:
- Covered medications: Check each plan’s formulary to see whether your prescriptions are covered and whether restrictions, such as prior authorization, apply.
- Pharmacy network: Make sure your preferred pharmacy participates and check whether a preferred-network pharmacy could lower your costs.
- Out-of-pocket costs: Compare premiums, deductibles, copays, coinsurance, and estimated yearly drug costs.
- Enrollment: Enrollment periods and possible late-enrollment penalties can matter, depending on your situation and other creditable coverage.
Kimberly can help you review these factors alongside your medications and pharmacy preferences.
Key Considerations
Your medications
Check if your prescriptions are covered.
Plan formulary
Drugs are organized into coverage tiers.
Costs
Review premiums, deductibles, and copays.
Pharmacy options
Confirm your preferred pharmacy is included.