Medicare Part D Prescription Drug Coverage

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A copayment/coinsurance: This is the amount you pay out of pocket each time you buy a prescription; it’s your share of the cost after Medicare has paid its part and you’ve reached your plan’s deductible (if any). A copayment is typically a flat amount that you pay (for example, you may pay a $10 copayment when you fill a prescription), while a coinsurance is a percentage you may owe (for example, you might pay a 10% coinsurance for generic medications). These costs can vary from plan to plan, and also vary depending on drug tiers and which stage of the benefit you are in at the time that you fill the prescription. Medicare Prescription Drug Plans and Medicare Advantage plans with prescription drug coverage place covered medications into different cost tiers, and the prescription drugs in higher tiers tend to cost more than those in lower tiers.
Source: medicare.com

Prescription Drug Coverage

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Source: cms.gov

Medicare Prescription Drug Coverage: MedlinePlus

Part D is the name of Medicare’s prescription drug coverage. It’s insurance that helps people pay for prescription drugs. It is available to everyone who has Medicare. It provides protection if you pay high drug costs or have unexpected prescription drug bills. It doesn’t cover all costs. You have to pay part of the cost of prescription drugs. Most people also have to pay an additional monthly cost.
Source: medlineplus.gov

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