Medicare Part D Prescription Drug Plans

Below you will find a quick overview about Medicare Prescription Drug Plans. Please do not hesitate to reach out and request a no-cost consultation to review your situation.

Part D adds prescription drug coverage to:

✔ Prescription drug coverage (Medicare Part D) can be purchased as a stand-alone plan to accompay Medicare (with our without a Medicare supplement plan) or included in a Medicare Advantage Plan, providing you with a myriad of choices to consider

✔ Both stand-alone plans and Medicare Advantage plans are sold by private companies that have a contract with Medicare

✔ Typically, Part D plans include 4 stages: deductible, initial coverage level, coverage gap, catastrophic level

✔ All Part D plans provide the same benefit amount during the initial coverage period, which can change yearly

✔ We are available to explain how these stages will impact your cost based on your prescriptions

✔ Choosing the"best" Medicare Part D plan for you depends on your own prescription needs

✔ As your needs change or your Part D plan makes changes, you may want to change your Part D plan - contact us to discuss options for the subsequent year prior to the Annual Enrollment Period each year

These plans are offered by insurance companies and other private companies approved by Medicare. Medicare Advantage Plans may also offer prescription drug coverage that follows the same rules as Medicare Prescription Drug Plans.

How to determine your Medicare Part B premium and Part D IRMAA Charges* (based on income level):


File individual tax return File joint tax return File married & separate tax return Part B monthly premium amount Part D monthly premium amount
$88,000 or less $176,000 or less $88,000 or less $148.50 $0
Above $88,000 up to $111,000 Above $176,000 up to $222,000 N/A $207.90 $12.30
Above $111,000 up to $138,000 Above $222,000 up to $276,000 N/A $297.00 $31.80
Above $138,000 up to $165,000 Above $276,000 up to $330,000 N/A $386.10 $51.20
Above $165,000 and less than $500,000 Above $330,000 and less than $750,000 Above $88,000 and less than $412,000 $475.20 $70.70
$500,000 or above $750,000 and above $412,000 and above $504.90 $77.10

*You can use Form SSA-44 to contest "High Wage Earner" designation and you may get your Part B premium and your Part D IRMAA charges reduced.