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A personalized medication review
Help comparing plans and pharmacies
Guidance on navigating prior authorizations or coverage rules
Enrollment assistance and annual reviews
Support applying for extra help if you qualify
Prescription Drug Plans (Part D)
Reliable Coverage for the Medications You Need
Medicare Part D is prescription drug coverage that helps pay for medications. It's an optional part of Medicare that you can get through private insurance companies approved by Medicare. Part D plans have their own list of covered drugs (called a formulary) and you pay monthly premiums plus costs when you fill prescriptions.
Picking the right drug plan is dependent on the list of medications you take. The highest price plan per month might have very low co-pays for your medications, while the cheapest plan might not cover them at all.
If you don't take medications, you're likely better off with one of the cheaper plans. Consider your total out-of-pocket costs when selecting a Part D plan, not just the monthly premiums.
Medicare Part D is available to anyone with Medicare, either:
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As a standalone plan (for those with Original Medicare or a Medicare Supplement)
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Included within a Medicare Advantage plan that offers drug coverage
Coverage
An HSA is a special savings account designed to help you pay for healthcare expenses with pre-tax dollars. You can use your HSA to pay for:
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Doctor visits and hospital care
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Prescription medications
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Dental, vision, and hearing services
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Qualified medical expenses in retirement
The best part? HSAs come with a triple tax advantage:
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Contributions are tax-deductible
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Growth is tax-free
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Withdrawals for qualified medical expenses are tax-free
Costs
Your total costs will include:
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Monthly premium (varies by plan)
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Annual deductible (some plans waive this for certain tiers)
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Copayments or coinsurance at the pharmacy
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Catastrophic coverage after a certain spending threshold is met
Many plans offer low or $0 premiums depending on your income, location, and eligibility for Extra Help (a federal assistance program we can help you apply for).
Enrollment Penalty
The late enrollment penalty is a permanent increase to your monthly Part D premium that you pay for as long as you have Part D coverage. Medicare charges this penalty if you don't sign up for Part D when you're first eligible and go 63 or more consecutive days without "creditable" prescription drug coverage.
The penalty amount is 1% of the national base premium for each month you delayed enrollment. For 2025, that's about 32 cents per month for each month you were late. So if you waited two years (24 months) to enroll, you'd pay an extra $7.68 per month permanently added to whatever Part D plan premium you choose.
You can avoid the penalty by:
Enrolling when first eligible - Sign up during your Initial Enrollment Period (the 7-month period around when you turn 65) or when you first become eligible for Medicare. Maintaining creditable coverage - If you delay Part D enrollment, make sure you have "creditable" prescription drug coverage with no gaps of 63+ days.
Creditable coverage includes:
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Employer or union health plans
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TRICARE
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Indian Health Service
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Veterans Affairs coverage
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Most state pharmaceutical assistance programs
Using Special Enrollment Periods - If you lose creditable coverage, you have 63 days to enroll in Part D without penalty
The key is avoiding any gap of 63+ consecutive days without creditable prescription drug coverage once you're eligible for Medicare.
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