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Medicare
Part D Plans
Medicare Part D (also called a Prescription Drug Plan) helps cover the cost of your prescription medicines. You can enroll in a stand-alone Part D plan or get this coverage through a Medicare Advantage plan.
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What is Medicare Part D?
Medicare Part D is your prescription drug coverage. It’s sometimes called a Medicare PDP (Prescription Drug Plan) and is offered by private insurance companies.
You can add a Part D plan to Original Medicare or to certain Medicare Advantage (MA) plans that don’t already include drug coverage. Most Medicare Advantage plans—about 9 out of 10—do include prescription coverage. If a plan says MA-PD, that means prescription drug coverage is built in.
ihealthcompare works with some of the largest insurance companies across the country to offer these plans.
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Starting in 2025, Medicare Part D has three phases of coverage
Phase One
Deductible Phase
This is what you’ll pay out of pocket for prescriptions before your plan’s deductible kicks in. For 2025, the deductible is $590.
Phase Two
Initial Coverage Phase
Once the deductible is met, you are responsible for 25% coinsurance on your prescriptions until your out-of-pocket costs total $2,000.
Phase Three
Catastrophic Phase
Once the out-of-pocket limit is reached, you will pay no additional cost for covered prescriptions for the remainder of the plan year. (The monthly Part D premium must still be paid.)
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Understanding the Medicare Part D Penalty
When you first become eligible for Medicare, it’s important to know that if you sign up for Original Medicare (Parts A & B), you should also enroll in a Part D prescription drug plan.
While enrolling in Part D isn’t required, skipping it can cost you later. If you go without drug coverage during your Initial Enrollment Period, Medicare adds a penalty. This penalty is based on the number of months you went without coverage and is added to your Part D premium every month—for as long as you have Medicare.
Example:
Let’s say you became eligible for Part D in March 2023, but you didn’t enroll until July 2024. That’s 17 months without drug coverage (and without any other “creditable” coverage).
Here’s how Medicare figures the penalty
- Take the national base premium for 2025: $36.78
- Multiply it by 1% for each uncovered month:
- 17% (0.17)$36.78 × 0.17 = $6.25
- Round to the nearest 10 cents.
So, in this case, $6.25 will be added to your monthly premium in 2025.
And remember—if the national base premium changes in the future, your penalty will also adjust.
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We do not offer every plan available in your area. Currently we represent 36 organizations nationally which offer more than 4,135 products nationally. Please contact Medicare.gov, 1-800-MEDICARE, or your local State Health Insurance Program (SHIP) to get information on all of your options.
iHealthCompare is operated by Lehigh Partners Senior Benefits, a licensed and certified representative of Medicare Advantage HMO, PPO and PFFS organizations and stand-alone prescription drug plans with a Medicare contract. Enrollment depends on contract renewal. We are not connected with or endorsed by the U.S. government or the federal Medicare program.
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