Prescription Drug Coverage
Medicare Part D: Prescription Drug Coverage Explained Clearly
Medicare Part D helps cover the cost of prescription medications. But not all drug plans are the same — and choosing the wrong one can cost you more than you expect.
We help you compare Part D plans based on your actual prescriptions and pharmacy.
No pressure. No obligation. Just clarity.
What Does Medicare Part D Cover?
Medicare Part D provides prescription drug coverage. It is offered by private insurance companies approved by Medicare.
Part D plans:
Each plan has its own drug list — called a formulary.
Your medications may be covered differently depending on the plan. See the Medicare glossary for key terms.
Not All Drug Plans Cover Medications the Same Way
Two plans in the same ZIP code can:
Even if premiums look similar, total yearly costs can vary significantly.
That’s why comparing based on your prescriptions matters.
Understanding How You Pay for Prescriptions
Most Part D plans include:
Monthly Premium
The amount you pay each month to have the plan.
Annual Deductible
Some plans require you to pay a deductible before coverage begins.
Copays or Coinsurance
The amount you pay when you fill a prescription.
Coverage Phases
Depending on total drug costs, your cost-sharing can change during the year.
Understanding these moving parts helps prevent surprise costs.
Common Prescription Drug Plan Mistakes
Even small errors can affect your annual medication costs. ➡ Read More About Common Medicare Mistakes
Part D and Medicare Advantage
How you get drug coverage depends on which Medicare path you’re on.
Original Medicare + Supplement
You will need a standalone Part D plan for prescription drug coverage. ➡ Learn About Supplement Plans
Medicare Advantage
Drug coverage is usually bundled into your plan — no separate Part D needed. ➡ Learn About Advantage Plans
In both cases, reviewing drug coverage annually is important.
Enrollment Periods for Part D
You can enroll or change your Part D plan during:
Initial Enrollment Period
When you first turn 65 and become eligible for Medicare. ➡ Turning 65 Guide
Annual Enrollment Period
October 15 – December 7 each year. This is when most plan changes happen. ➡ Annual Review Guide
Special Enrollment Periods
Triggered by qualifying life events like moving, losing coverage, or other changes. ➡ See all enrollment periods
⚠️ Don’t Miss Your Window
If you delay enrolling without other creditable drug coverage, you may face a late enrollment penalty — an extra cost added to your premium for as long as you have Part D.
We Compare Plans Based on Your Actual Prescriptions
Instead of guessing, we:
Review Your Medication List
Compare Plans in Your ZIP Code
Check Tier Placement & Pricing
Evaluate Total Yearly Cost
Not just premiums
Explain Trade-Offs Clearly
If your current plan is still appropriate, we’ll tell you.
If there’s a better option, you’ll understand why.
Not Sure If Your Drug Plan Still Fits?
Take our short Medicare Clarity Quiz to see if a review might help. ➡ Take the Medicare Clarity Quiz
New to Medicare? Take the Supplement vs Advantage Quiz instead →
Takes less than a minute.
Frequently Asked Questions
Do all Medicare Part D plans cover the same drugs?
No. Each plan has its own formulary and tier system. A drug that is well-covered on one plan may cost significantly more on another.
Can I change my Part D plan every year?
Yes, during the Annual Enrollment Period (October 15 – December 7). This is the best time to review your drug coverage and make changes for the following year.
What happens if I don’t enroll in Part D when eligible?
You may face a late enrollment penalty — an additional cost added to your monthly premium for as long as you have Part D coverage — unless you have other creditable drug coverage.
Are pharmacy prices different between plans?
Yes. Pricing agreements vary by plan and pharmacy. The same medication can cost different amounts depending on which pharmacy you use and which plan you’re enrolled in.
Do I need Part D if I have Medicare Advantage?
Most Medicare Advantage plans include Part D drug coverage built in. If yours does, you don’t need a separate plan. However, if you switch to Original Medicare, you’ll need standalone Part D coverage.
Do I need Part D if I have a Medicare Supplement?
Medicare Supplement plans do not include prescription drug coverage. You’ll need a separate standalone Part D plan to cover your medications.
Can my Part B premium be reduced?
If you’re in a Medicare Advantage plan, some offer a Part B giveback that reduces your monthly Part B premium. This isn’t available with standalone Part D plans.