Cost of Part D
Getting Prescription Drug Cover with Part D
There are two main ways to get prescription drug coverage with Medicare: Medicare Advantage Plans or Part D. Part D is your prescription drug coverage. It’s an optional portion of Medicare that you can enroll in for a monthly premium. It’s also subject to a yearly deductible. Learn more about the specific costs below.
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Details of Part D Costs
The Part D monthly premium depends on your income. If your income is higher than a certain amount — $87,000 if you file individually or $174,000 if you file jointly — you’ll pay more than the typical person. On average, people paid about $30 for their monthly premium in 2020. In 2020, the yearly deductible for Part D was $435. The actual costs of medications under Part D vary depending on the medication.
To learn more about whether Part D is worth it, talk to us at Modern Senior Benefits today.
