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Medicare Part D (RX Plans)
Prescription Drug Coverage That Works With Your Plan
Medicare Part D helps cover the cost of prescription drugs you fill at a pharmacy or through mail order. You can get it as a standalone plan with Original Medicare or as part of a Medicare Advantage plan that includes drug coverage.
What Medicare Part D Covers
Medication Coverage Tailored to Your Needs
Medicare Part D plans cover a wide range of prescriptions through retail and mail-order pharmacies. Each plan includes a formulary (a list of covered drugs) and uses pricing tiers to determine your cost.
Most plans cover:
Generic and brand-name medications
Prescriptions for chronic conditions
Specialty drugs for complex conditions
Options for mail order or preferred pharmacies
Coverage varies from plan to plan, so it’s important to review your prescriptions every year to avoid surprises.
Costs and Coverage Stages
How Part D Works Throughout the Year
Medicare Part D plans follow four cost stages throughout the year:
Deductible Stage: You pay full cost for your prescriptions until the plan’s deductible is met (up to $615 in 2026).
Initial Coverage: After the deductible, you pay a set copay or percentage for each medication.
Initial Coverage: After the deductible, you pay a set copay or percentage for each medication.
Catastrophic Coverage: After hitting the out-of-pocket limit, your share drops significantly.
Avoiding Part D Penalties
Don’t Delay Your Enrollment
If you don’t enroll in a Part D plan when you’re first eligible and go 63 or more days without other creditable drug coverage, you may face a lifetime late enrollment penalty. The penalty is added to your premium and increases the longer you wait.
Even if you don’t take many medications now, enrolling on time can save you money in the long run—and give you peace of mind. At Chapman Insurance Group, We offer annual Medicare plan reviews at no cost during Open Enrollment.
Client Services
Need a Medicare From? Start Here.
If you’re enrolling in Medicare Part A and B without taking Social Security, applying for Extra Help, requesting an IRMAA adjustment, or submitting employer coverage info, you may need official forms to get started.
Support You Can Count On
We partner with leading carriers including Florida Blue, Aetna, Humana, Cigna, Mutual of Omaha, Blue Cross Blue Shield, UnitedHealthcare.
When you work with us, you get more than just a plan. You get ongoing support, local guidance, and a relationship built on trust. Our services are always free to you, and your premium stays the same whether you enroll with us or go direct.
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