Help with prescription medication costs
Medicare Part D helps cover the cost of prescription drugs. Plans are offered by private insurance companies approved by Medicare.
A formulary is a list of covered drugs. Plans place drugs into different "tiers" on their formularies. Drugs in lower tiers cost less than drugs in higher tiers.
$2,000 Out-of-Pocket Cap: Starting in 2025, your total out-of-pocket drug costs will be capped at $2,000 per year.
Payment Option: You can choose to spread your out-of-pocket costs over the year instead of paying all at once.
If you go without creditable prescription drug coverage for 63+ days, you may owe a late enrollment penalty added to your premium for as long as you have Part D.
Avoid Penalties – Talk to Gary