Medicare Part D: Prescription Drug Coverage
Don’t overpay for medications. Find the Part D plan that covers your prescriptions at the lowest total cost.
Save on Prescriptions with the Right Part D Plan
The wrong Part D plan can cost you hundreds — even thousands — more per year. We check your exact medications against every plan’s formulary in your ZIP code to find the lowest total cost, not just the lowest premium.
Your Medications Matter — So Does Your Plan
If you take prescription medications — and most Medicare beneficiaries do — Part D isn’t optional, it’s essential.
But here’s what most people don’t realize: Part D plans change every year. The plan that was cheapest last year might not be cheapest this year. Formularies change. Tier placements change. Pharmacy networks change.
That means reviewing your Part D plan every fall during the Annual Enrollment Period (October 15 – December 7) isn’t just smart — it could save you hundreds or even thousands of dollars.
We run a detailed analysis of your specific medications against every available plan in your area to find the one with the lowest total annual cost — not just the lowest premium.
How Part D Works: The 4 Coverage Phases
Deductible Phase
You pay full price until you meet the annual deductible (up to $590 in 2025). Some plans have $0 deductible.
Initial Coverage
You pay copays or coinsurance; your plan pays the rest. This continues until combined spending reaches $5,030.
Coverage Gap
The “donut hole.” You pay reduced costs until you reach the $2,000 annual out-of-pocket cap (new for 2025).
Catastrophic Coverage
After hitting the $2,000 cap, you pay $0 for covered drugs for the rest of the year.
⚠️ The Late Enrollment Penalty: Don't Get Caught
If you go 63+ days without creditable drug coverage after your Initial Enrollment Period, you’ll pay a permanent penalty added to your Part D premium for life.
How the penalty works:
1% × national base premium × months without coverage
Example: 24 months without coverage = 24% × $36.78 = $8.83/month FOREVER
This penalty never goes away and increases each year as the base premium rises.
Not sure if you need Part D? Call us — we’ll check if your current coverage counts as “creditable.”
Why Use Senior Benefits Hub for Part D?
💊 Medication-Level Analysis
We enter your exact prescriptions and pharmacies to compare total annual costs across every plan in your area — not just premiums.
📅 Annual Review
Formularies change every year. We proactively review your plan each fall and alert you if there’s a better option — saving you hundreds.
💰 100% Free Service
Same plans, same prices as going direct. Our guidance and annual reviews are included at no cost to you.
Medicare Part D: Frequently Asked Questions
What is Medicare Part D?
Medicare Part D is the prescription drug benefit. It’s offered through private insurance companies approved by Medicare. Part D helps cover the cost of prescription medications, including brand-name and generic drugs.
Do I need Part D if I have Medicare Advantage?
Most Medicare Advantage plans already include Part D drug coverage (called MA-PD plans). If your MA plan includes drug coverage, you do NOT need a separate Part D plan. Check your plan’s Summary of Benefits to confirm.
What happens if I don’t sign up for Part D when I’m first eligible?
If you go 63 or more consecutive days without creditable drug coverage, you’ll pay a Late Enrollment Penalty — 1% of the national base premium ($36.78 in 2025) for each month you didn’t have coverage. This penalty is permanent and added to your monthly premium for as long as you have Part D.
What is the Part D ‘donut hole’?
The donut hole (coverage gap) is a temporary limit on what Part D covers. In 2025, after you and your plan have spent $5,030 on drugs, you enter the gap. Thanks to the Inflation Reduction Act, out-of-pocket costs in the gap are now capped, and there’s a new $2,000 annual out-of-pocket maximum.
When can I change my Part D plan?
During the Annual Enrollment Period (October 15 – December 7), you can switch Part D plans. If you’re in a Medicare Advantage plan, you can also make changes during the MA Open Enrollment Period (January 1 – March 31). Always review your plan each fall — formularies and costs change every year.
How do I know if my medications are covered?
Every Part D plan has a formulary — a list of covered drugs organized into cost tiers. We check your specific medications against plan formularies to find the plan with the lowest total cost for YOUR prescriptions.
Get Your Free Part D Plan Analysis
Tell us your medications and preferred pharmacy. We’ll find the plan with the lowest total annual cost — premiums, copays, and deductible combined.
Senior Benefits Hub is a service of Triangle Life & Health®