Contact Us: 734-712-3456

What is the coverage for a Part D prescription drug plan?

The coverage varies depending on the plan you choose, but in general:

  • The monthly premiums range from $17.80-$86.90 depending on the coverage.
  • Some plans have a $0 deductible, but the maximum deductible is $265 per year.
  • After the deductible up to $2400 in medication costs you pay 25% or a specific copay determined by your plan. Many plans have tiered formularies, which means that the amount of copay depends on the tier of the medication: tier 1 is generic medications and the least expensive, tier 2 is preferred brand name medications, and tier 3 is non-preferred brand name medications, which are the most expensive.
  • There is a coverage gap between $2400-$3850 in out of pocket costs, where most plans offer no coverage and you would have to pay all of the costs.
  • Over $3850 in out of packet costs is “catastrophic coverage” for all of the plans where you pay approximately 5% or $2.15 for a one-month supply of generic medication and $5.35 for a one-month supply of brand name medication, whichever is greater.