Prescription drug coverage is part of most health insurance plans, but it varies depending on the plan and the medication.
Prescription drugs are categorized into four tiers, which affect the costs and copayments for each drug. Tier 1 is the cheapest and Tier 4 is the most expensive.
Prescription drug costs depend on the deductible, copayment, coinsurance, and formulary of the plan. It’s important to compare different plans and quotes to find the best deal.
Prescription drug costs can be lowered by choosing a plan that covers the medications you need, using generic drugs when possible, and asking for discounts or assistance programs.
Medicare Part D is the prescription drug section of Medicare, which requires enrolling in Parts A, B, and C first. Working with a Medicare expert can help find the right coverage.