Medicare Part D helps cover the cost of prescription medications. It’s offered by private insurance companies and is available as a standalone plan for those with Original Medicare, or included in most Medicare Advantage (Part C) plans.
What Part D Covers
- Prescription drugs – most plans cover brand-name and generic medications
- Pharmacy network access – your preferred pharmacy may affect costs
- Formulary tiers – drugs are grouped by cost, with lower tiers typically costing less
Tip: Each Part D plan has its own list of covered drugs (formulary) and rules. Checking your specific prescriptions is essential to avoid surprises.
Costs to Consider
- Monthly premium – varies by plan and income
- Deductible – you may pay the first part of your drug costs before coverage begins
- Copayments & coinsurance – cost sharing depends on the drug and plan tier
- Coverage gap (“donut hole”) – may affect some brand-name and generic drugs, though recent law reduces out-of-pocket spending in this phase
Who Should Enroll?
- Anyone with Original Medicare who wants prescription coverage
- Individuals whose medications are expensive or ongoing
- People who want to avoid late enrollment penalties – missing enrollment without creditable coverage may increase premiums later
Why Part D Matters
Prescription drug costs can add up quickly. Part D helps you manage these costs and ensures you have access to the medications you need.
Next Steps in Minnesota
- Compare Part D plans based on your current prescriptions and preferred pharmacies
- Check plan formularies to make sure your drugs are covered
- Coordinate with other coverage like Medicare Advantage or Medigap, if applicable
YourMedicareMN can help you choose the right prescription drug plan and review all Minnesota-specific options.
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