Speak with a Licensed Insurance Agent (866) 817-5270 Click to Call

Prescription Drug Plans and Other Plans

Medicare Prescription Drug plans subsidize the cost of prescription drugs for Medicare beneficiaries. Medicare Part D Prescription Drug plans are offered by Medicare-approved private insurance companies. The monthly premium for these plans may differ. Part D plans include a formulary, which is a list of the drugs that are covered. The formulary may change at any time, but participants receive notice before any changes are made to it.

Formulary

Each Prescription Drug plan has its own formulary, which is a list of the prescription drugs that are covered. You need to check and make sure that the drugs you take are on your plan’s formulary.

Cost

There are numerous things that you can do to decrease your prescription drug prices.

  1. Make sure that you are using a pharmacy that is in-network.
  2. Check and see if you can receive your prescription drugs via mail--this sometimes requires you to purchase a 3-month supply, but such orders are usually offered at a lower price.
  3. When you’ve reached your spending limit ($4,020 in 2020) you must pay 25% of the cost of brand-name prescription drugs and 37% of generic prescription drugs.
  4. If your costs reach $6,350, you enter catastrophic coverage and only pay a small co-pay or co-insurance for the rest of the year.

Do you qualify for EXTRA HELP paying for your prescription drugs? Check out Medicare Plan Finder or call us at (866) 817-5270

  • Why should I use MedicareMarket.com?

    MedicareMarket.com helps you find a personalized Medicare coverage option that works for you. Our licensed agents can answer your questions and help you avoid high out-of-pocket costs, copayments, and deductibles. Your health is important, and we are here to make sure that you’re not overpaying for it.

  • What does it cost to use MedicareMarket.com?

    Nothing. MedicareMarket.com is a free service to help you find the Medicare Supplement insurance that’s right for you.

  • What if I don't know what I need?

    We are here to help. Our US-based agents can help you assess your options and give you the peace of mind knowing that you are covered under a plan that meets your needs.

  • What if I already have a plan?

    Not to worry, you are in the right place. We can help you find a plan that offers you more and lowers your premiums.

  • How do I get started?

    It’s simple, and answer a few questions so that we can find the perfect plan for you.

or call us at (866) 817-5270

Find a Plan

call now