Prescription Drug Coverage

Don't let medication costs catch you off guard. Explore drug coverage options that keep your prescriptions affordable.

Get a free quote

Why Prescription Coverage Matters

The cost of prescription medications continues to rise. Whether you take one medication or several, having the right drug coverage can save you hundreds even thousands of dollars each year.

How Prescription Plans Work

Formulary & Drug Tiers

Plans organize medications into tiers. Generic drugs are typically the most affordable, while specialty medications may cost more.

Pharmacy Networks

Using in-network pharmacies helps keep your costs low. Many plans also offer convenient mail-order options for maintenance medications.

Coverage Phases

Medicare Part D plans have phases deductible, initial coverage, coverage gap (donut hole), and catastrophic coverage each with different cost-sharing.

Prior Authorization

Some medications require advance approval from your plan. Your advisor can help you navigate this process smoothly.

Key Benefits

Lower out-of-pocket costs on prescriptions
Access to generic and brand-name medications
Mail-order pharmacy convenience
Coverage through the Medicare donut hole
Specialty drug assistance programs
Coordination with your existing health plan

?

Common Questions

Do I need a separate prescription drug plan?

If you have Original Medicare, you'll need a standalone Part D plan for drug coverage. Medicare Advantage plans often include drug coverage. Marketplace plans include prescription benefits by law.

What if my medication isn't on the formulary?

You can request an exception from your plan, or your advisor can help find an alternative plan that covers your specific medications.

What is the Medicare donut hole?

The donut hole (coverage gap) is a temporary phase where you pay a higher share of drug costs after you and your plan have spent a certain amount. Once you reach the catastrophic threshold, your costs drop significantly.