Prescription Drug Plans That Better Manages Your Budget
Prescription Drug Plans
Prescription Drug Plan (Part D) coverage is provided by private companies. The types of Part D plans are:
– Stand-alone Prescription Drug Plans (PDP)
– Medicare Advantage-Prescription Drug (MA-PD) Plans
– Cost-PD Plans (Medicare health plans that cover Part D prescription drugs as an optional supplemental benefit.)
Part D plans must cover at least the Part D standard benefit or its actuarial equivalent. For 2025 the standard deductible is $590.00 (see chart below). Not all Part D plans use the standard deduction, some plans use less, some plans use a deduction on tier 3, 4, and 5 drugs, a few don’t have a deduction at all.
Drug plan cost and copays change every year. During annual enrollment you have an opportunity to change your plan for the following year to help you better manage your copays. If you would like us to assist you in reviewing cost for next year, contact us or click on the prescription drug link below.
Prescription drug cost continue to increase year after year and can be one of the largest expenses seniors face every month. It is a good practice to check your cost each year as prices and plans change. I offer a FREE quoting service, to help identify where you can save money. Click on the button below.