Part D Prescription Plans

You can sign up for Part D Prescription Drug Plans, which helps cover prescription drug costs, along with other components of Medicare starting three months before your 65th birthday.

It's important to do this on time because there's a permanent premium surcharge for enrolling more than three months after your 65th birthday if you don't have equivalent drug coverage from another source, such as a retiree plan.

If you are already enrolled in a Part D "standalone" plan or a Medicare Advantage plan that incorporates drug coverage, you can switch plans during the open-enrollment period, which runs from Oct. 15 to Dec. 7 every year.

In 2026, you are facing higher out-of-pocket drug costs. 

The first phase of the process is the deductible phase. You pay up to $615 (standard for 2026) for drugs before the plan starts paying.
During the initial coverage phase you will pay copays and the plan covers the rest.

Catastrophic phase, the final phase: once your out-of-pocket spending has reached $2,100, you will pay $0 for covered drugs the remainder of the year.

Please contact our office so we may help find the best plan for your prescriptions.

It pays to review your Part D coverage every year, especially if you have started taking new drugs.

• We will help you with this process and save you from having to navigate the system alone. If interested, you can go online at Medicare.gov, where you can find the basics about the benefit and Part D plans. Head to the Medicare Part D Plan Finder, which allows you to compare offerings and coverage options in your area and includes a helpful formulary finder that allows you to compare plans based on their coverage of your personalized list of drugs. It will even show you your monthly out-of-pocket drug cost for the year

Call us to help you understand your options.

Individuals with 2023 annual incomes of less than $21,870 and financial resources of up to  $16,600, or married couples with incomes of less than r $29,580 and financial resources of up to  $33,240, might qualify for Extra Help from Medicare to pay their Part D premiums and out-of-pocket drug costs.

This information was obtained from www.medicare.gov

By contacting the phone number on this website, you will be directed to a licensed agent.