Medicare Part D Cost Comparison
Compare prescription drug plan costs side-by-side to find the cheapest Medicare Part D plan for your specific medications and budget.
Why Compare Part D Plan Costs?
Medicare Part D plan costs vary dramatically. Smart comparison shopping can save you thousands of dollars annually.
Cost Variations
Smart Shopping
Savings Potential
Sample Plan Cost Comparison
Example showing how the same medications cost differently across three common plan types
| Cost Component | Basic Plan | Enhanced Plan | Premium Plan |
|---|---|---|---|
| Monthly Premium | $25 | $55 | $95 |
| Annual Deductible | $590 | $250 | $0 |
| Generic Drug Copay | $15 | $8 | $5 |
| Brand Drug Copay | $75 | $45 | $25 |
| Specialty Drug Coinsurance | 45% | 35% | 25% |
| Sample Annual Total* | $2,840 | $1,965 | $1,680 |
*Sample based on taking 3 generic medications and 1 brand name medication monthly
Premium Plan saves $1,160/year vs Basic Plan in this example
Key Factors to Compare
Look beyond just the monthly premium. These factors determine your true total cost.
Formulary Coverage
Ensure all your medications are covered on the plan's formulary (drug list).
What to Check:
- • Are all your drugs covered?
- • What tier are they on?
- • Any quantity limits?
- • Prior authorization required?
Total Annual Cost
Calculate premium + deductible + estimated drug costs for the year.
Cost Formula:
(Premium × 12) + Deductible + (Monthly Rx × 12) = Annual Total
Pharmacy Network
Verify your preferred pharmacy is in the plan's network.
Network Types:
- • Preferred: Lowest costs
- • Standard: Higher costs
- • Out-of-network: Highest costs
- • Mail-order: Often cheapest for 90-day supplies
Plan Ratings
Medicare rates plans 1-5 stars based on quality and customer service.
Star Ratings:
- • 5 stars: Excellent
- • 4 stars: Above average
- • 3 stars: Average
- • 1-2 stars: Below average
Coverage Restrictions
Some medications may have coverage restrictions that affect access.
Common Restrictions:
- • Prior authorization required
- • Step therapy (try cheaper drug first)
- • Quantity limits
- • Age or diagnosis requirements
💡 Pro Comparison Tip
Don't just compare 2-3 plans. Medicare.gov shows all available plans in your area with your specific medications entered.
The lowest premium plan is rarely the lowest total cost plan.
Free Plan Comparison Tools
Use these official tools to compare Medicare Part D plans with your specific medications
Medicare.gov Plan Finder
Official Medicare tool that shows all plans in your area with your exact medications
Expert Comparison Service
Our licensed agents compare all plans for you and recommend the lowest-cost option
Avoid These Common Comparison Mistakes
These errors cost Medicare beneficiaries thousands of dollars each year
Only Looking at Premium
A $15/month plan with high copays often costs more annually than an $85/month plan with low copays.
Not Checking Formularies
If your medication isn't covered, you'll pay full price - potentially thousands more per year.
Ignoring Pharmacy Networks
Using an out-of-network pharmacy can double or triple your prescription costs.
Calculate Total Annual Cost
Add premium, deductible, and estimated medication costs for the true comparison.
Consider Future Changes
Think about potential new medications or changing health needs when comparing plans.
Review Annually
Plans change every year. What's best today may not be best next year during Open Enrollment.
Get a Free Medicare Part D Cost Comparison
Skip the confusion and let our experts compare all available plans to find your lowest-cost option. Free service with no obligation.
Licensed Medicare experts • Free consultation • Save up to $2,500/year