Prescription Drug Plans

Part D of Medicare = Drugs

Part D plans or Prescription Drug Plans (PDPs) offer prescription coverage for those that are enrolled in Original Medicare or a Medicare Supplement.

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These plans are designed to use a network of pharmacies to help lower the costs of your medications. Each plan covers different types of prescriptions and have different costs and co-payments depending on the drug and pharmacy. 

Each plan works a little bit differently

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This means that not all plans have the same drug formularies or copayments. Some carriers may choose to not cover some of the more expensive medications. Or in some plans you may only be able to pick up at certain pharmacies. 

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In general, the rule of thumb is that the plans with lower premiums typically work best if you are taking generic prescriptions as the formularies are a little smaller. With the plans that charge more in premiums, sometimes they cover the more expensive brand name drugs or have lower deductibles

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Changes for 2025

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In 2025, a new rule took effect regarding PDP plans. Medicare lowered the Maximum out of Pocket limit for prescription drugs to $2,000 for the 2025 plan year. This means that once beneficiaries have amounted to $2,000 in out of pocket costs, they will no longer have to pay any copayments for any drugs for the rest of the year.

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I don't take any prescriptions. Do I really need this plan?

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Although it is not a requirement to enroll, we recommend that you do. The premiums are usually very affordable. If you decide not to enroll when you are first eligible and then decide to enroll later you could be subject to a permanent Late Enrollment Penalty.

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When can you sign up?

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You can only enroll into a Prescription Drug Plan during certain times of the year. The most common is the Annual Enrollment Period (AEP). This runs from October 15th to December 7th. There are also some Special Enrollment periods that may allow you to enroll throughout the rest of the year.

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We are happy to offer assistance with Part D Drug plans when you choose to enroll in a Medicare Supplement plan with us. Call now at 402-890-6868 or press the button below to request help.