Medicare Part D helps cover outpatient prescription drugs. You can receive it through a stand-alone drug plan with Original Medicare or through many Medicare Advantage plans.
2026 Part D benefit design
- A Part D plan may charge a deductible, but it cannot exceed $615 in 2026.
- In the standard initial coverage phase, the enrollee generally pays 25% coinsurance, although actual plan copays and coinsurance vary.
- After your covered out-of-pocket spending reaches $2,100 in 2026, you pay no cost sharing for covered Part D drugs for the rest of the calendar year.
Older explanations of a separate Part D “coverage gap” or “donut hole” are obsolete. The redesigned benefit has deductible, initial coverage, and catastrophic phases.
What to compare
Check every prescription, dosage, preferred pharmacy, formulary tier, utilization rule, and estimated yearly cost. A low premium does not always mean the lowest total cost.
Medicare Prescription Payment Plan
This optional program can spread out-of-pocket prescription costs across the calendar year. It changes the timing of payments; it does not reduce the total amount owed.