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Phone: (253) 460-9444
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Part D Prescription Drug Plans

You can sign up for Part D Prescription Drug Plans, which helps cover prescription drug costs, along with other components of Medicare starting three months before your 65th birthday.

It's important to do this on time because there's a permanent premium surcharge for enrolling more than three months after your 65th birthday if you don't have equivalent drug coverage from another source, such as a retiree plan.

Let us help you with your enrollment

If you are already enrolled in a Part D "standalone" plan or a Medicare Advantage plan that incorporates drug coverage, you can switch plans during the open-enrollment period, which runs from Oct. 15 to Dec. 7 every year.

Making Part D work

In 2021, you are facing higher out-of-pocket drug costs before you can qualify for catastrophic coverage. The out-of-pocket spending threshold will increase by $200, from $6,350 to $6,550 in 2021.

You will also face higher out-of-pocket costs in 2021 for the deductible and in the initial coverage phase before reaching the catastrophic coverage. The standard deductible is increasing from $435 in 2020 to $445 in 2021, while the initial coverage limit is increasing from $4,020 in 2020 to $4,130 in 2021.

For costs in the coverage gap phase, beneficiaries will pay 25% for both brand-name and generic drugs, with plans paying the remaining 75% of generic drug costs. For total drug costs above the catastrophic threshold, Medicare pays 80%, plans pay 15%, and enrollees pay either 5% of total drug costs or $3.70/$9.20 for each generic and brand-name drug, respectively.

 

 

Choosing a plan

It pays to review your Part D coverage every year, especially if you have started taking new drugs.

 

  • Start by filling out our contact form, where you can begin the process to find the basics about the benefit and Part D plans from Health Insurance NW. We have the resources to point you into the direction of the Medicare Part D Plan Finder, which allows you to compare offerings and coverage options in your area and includes a helpful formulary finder that allows you to compare plans based on their coverage of your personalized list of drugs. It will even show you your monthly out-of-pocket drug cost for the year

Call us to help you understand your options.

Getting financial help

Individuals with annual incomes of less than $19,140 and financial resources of up to $14,610, or married couples with incomes of less than $25,860, might qualify for Extra Help from Medicare to pay their Part D premiums and out-of-pocket drug costs.


Download Medicare's instructions on applying for the Extra Help program.

This information was obtained from official government Medicare resources.

 

By contacting the phone number on this website you will be directed to a licensed agent.

Medicare Coverage
  • Medicare Simplified
  • Medicare: What you need to know
  • Medicare Advantage Plans
  • Your Page
  • Part D Prescription Drug Plans
  • Are You Eligible for Medicare?
  • Different Types of Medicare Advantage Plans
  • Compare Medicare Supplement plans side by side
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Health Insurance NW

Serving Washington since 1983

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Our experienced independent insurance professionals are committed to providing our clients with highly personalized service.

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2921 5th Ave NE, Suite 150
Puyallup
Washington
98372
Phone: (253) 460-9444
Fax: (253) 446-6680

This is a solicitation for insurance. Submitting information or calling numbers listed on this website will direct you to a licensed Agent/Broker. Important disclosures about Medicare Plans: Medicare has neither endorsed nor reviewed this information. We are not connected or affiliated with any United States Government or State agency. We do not offer every plan available in your area. We currently represent 10 companies that offer 106 plans in the state. Please contact Medicare.gov, 1-800-MEDICARE, or your local State Health Insurance Program (SHIP) to get information on all your options.

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