A chart showing four tiers of Medicare Part D prescription drug plans, including icons and descriptions for each tier. Tier 1: Generic Rx, covering most generic prescription drugs with the lowest copay. Tier 2: Preferred Brand Name, covering preferred brand-name prescription drugs with medium copay. Tier 3: Non-Preferred Brand Name, covering non-preferred brand-name drugs with higher copay. Specialty Tier: Specialty drugs with very high costs, highest copay, and possible coinsurance.

Medicare rx drug plans

Medicare Part D helps cover the cost of prescription medications and is available through private insurance companies approved by Medicare.

These plans, often called “PDPs,” can be added to Original Medicare and certain other Medicare plans. Each plan has its own list of covered medications, called a formulary, which organizes drugs into different “tiers.” Lower-tier drugs generally have lower out-of-pocket costs, while higher-tier medications may cost more. In some cases, if your doctor believes you need a specific drug that’s in a higher tier, you can request an exception to lower your costs.

Since formularies and costs vary by plan, it’s important to compare options carefully to ensure your prescriptions are covered at the most affordable rate.