Part D Prescription Drug 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.

Let us help you with your enrollment

If you are already enrolled in a Part D "stand-alone" plan or a Medicare Advantage plan that incorporates drug coverage, you can switch plans during the Annual Election Period, which begins on Oct. 15th and ends on Dec. 7th every year.

Understanding Part D

Medicare Part D is a fairly new benefit.  It went into affect on January 1, 2006. Although it was Medicare (CMS) that designed and structured Part D it is private insurance companies who sell and manage the plans.

There are four levels to Part D

  • Deductible
  • Initial Coverage Amount
  • Gap (Donut hole)
  • Catastrophic  

In 2018 the deductible is $405, there are several Part D plans that do not have a deductible and offer first dollar coverage. The initial coverage amount is $3,750. The retail cost of your medications will determine when this amount has been exhausted (used up) at which time you would enter into the gap "donut hole".  The maximum amount you pay for your medications while in the gap is 35% of the retail cost. On rare occasions Medicare beneficiaries enter the catastrophic stage of Part D. Designed as a "safety net" for those with very expensive and specialized medications, this level will pay up to 95% of the cost for all medications once a $5,000 TROOP (True Out Of Pocket) expenditure has been met. 

Choosing a plan

It pays to review your Part D coverage every year, especially if there were changes made or new medications added during the year.  

  • Start at You can find the basics about the benefit and Part D plans at Medicare's website. There's a link 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.

Getting financial help

Individuals with annual incomes of less than $17,820 and financial resources of less than $13,640, or married couples with incomes of less than $27,250, might qualify for Extra Help from Medicare to help pay their Part D premiums and out-of-pocket drug costs.

Download Medicare's instructions on applying for the Extra Help program.

Additionally, read about the six ways to lower your drug costs on

This information was obtained from

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

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