Medicare
Prescription Drug Plans (Part D)
The cheapest plan on paper is often the most expensive one at the pharmacy counter. What matters is how your specific medications are treated.
How it works
Part D is prescription coverage sold by private insurance companies. You can buy it as a standalone plan alongside Original Medicare, or get it built into most Medicare Advantage plans. Every plan has a formulary — its own list of covered drugs, sorted into tiers that determine what you pay.
Two plans with nearly identical premiums can differ by hundreds of dollars a year for the same person, because one places a medication on a preferred tier and the other does not cover it at all. That is why we ask for your prescription list, including doses, before recommending anything.
Things that trip people up
- Pharmacy choice. Plans have preferred pharmacies where your copays are lower. Using the drugstore across the street can cost more than using the one two miles away.
- Prior authorization and step therapy. A plan may cover your drug only after you try an alternative first, or only with approval from the plan.
- The late enrollment penalty. If you go 63 days or more without creditable drug coverage after becoming eligible, a permanent penalty is added to your premium.
- Yearly changes. Formularies are rewritten every January. A plan that fit you last year may not this year, which is what the fall review is for.
Extra Help
The federal Extra Help program, also called the Low‑Income Subsidy, can substantially reduce Part D premiums and copays for people who qualify based on income and resources.
Many people who qualify never apply. We are happy to look at whether it is worth your applying, and you can also apply directly through the Social Security Administration.
How we compare drug plans
List every medication
Name, strength, and how often you fill it. Include the ones you take occasionally.
Check each plan’s formulary
Is the drug covered, on what tier, and does it carry a restriction such as prior authorization or a quantity limit?
Add up the full year
Premium plus deductible plus your expected copays — at the pharmacy you actually use. That total is the number worth comparing.
Have your prescription list handy?
Read it to us over the phone and we will tell you which plans handle it best for the coming year.
By calling this number, you will be connected with a licensed insurance agent who can answer questions about the plans we offer. There is no cost or obligation to talk.