Call (208) 907-4447
What Is Medicare Part D?
Medicare Part D is a prescription drug coverage plan offered through private insurance companies approved by Medicare. It helps beneficiaries pay for prescription medications, reducing out-of-pocket costs for both brand-name and generic drugs. Part D plans can either be standalone Prescription Drug Plans (PDPs) for those with Original Medicare or included as part of Medicare Advantage plans (MAPD). These plans vary in the drugs they cover, which is detailed in a formulary, and the costs associated with coverage, including monthly premiums, deductibles, and copayments.
Enrollment in Part D is optional, but for those who don’t sign up when first eligible, they may face late enrollment penalties unless they have other creditable prescription drug coverage.
READY TO GIVE US A TRY?
Plan Options Vary Based On County
If you are interested in learning more about what plans offer in your county, please reach out and schedule an appointment.
Understanding Prescription Drug Plans
Medicare Part D provides coverage for both generic and brand-name prescription drugs, helping beneficiaries manage medication costs.
Plans vary in monthly premiums, deductibles, copayments, and the list of covered drugs (formulary), so beneficiaries should compare options based on their medication needs.
Medicare Part D is available to anyone with Medicare, and enrollment is optional but highly recommended to avoid late enrollment penalties.
Part D plans can change annually, with different drug formularies, premiums, and coverage options, so beneficiaries should review their plans each year during the Annual Enrollment Period.
Still Confused? Don't worry, we can help!
2025 Changes To Medicare Prescription Drug Plans
$2,000 Out-Of-Pocket Max
In 2025, Medicare will implement a major change to Prescription Drug Plans by capping out-of-pocket costs for covered medications at $2,000 per year. This new cap will help beneficiaries manage their medication expenses more predictably, as they will no longer face the "Donut Hole" once they reach the $2,000 threshold.
Payment Plan Option
Starting in 2025, Medicare Prescription Drug Plans will allow beneficiaries to pay for their prescription medications in monthly installments, rather than requiring full upfront payment. This change aims to make it easier for individuals to manage their prescription drug costs by spreading payments over the year, reducing financial strain.
Insulin & Vaccine Coverage
In 2025, Medicare Prescription Drug Plans will cap the price of insulin at $35 per month, ensuring that beneficiaries have more affordable access to this essential medication. Additionally, vaccines covered under Part D, such as shingles and pneumonia vaccines, will be available at no cost to beneficiaries.
Ready to get started?
