Medicare Part D is the part of Medicare that provides prescription drug coverage. Because Original Medicare (Parts A and B) does not cover most prescription drugs, you need to enroll in a Part D plan to get help with the cost of your medications. These plans are offered by private insurance companies approved by Medicare.

The "best" plan is not the one with the lowest monthly premium, but the one that gives you the lowest total out-of-pocket cost for the year. Each plan has its own list of covered drugs, called a formulary. The only way to know for sure is to have a professional run an analysis of your exact drug list against all the plans available in Stuart or Palm City to see which one covers your medications at the lowest cost.

Most Part D plans have a network of pharmacies they partner with. While you can often use out-of-network pharmacies, your costs will be much higher. To save the most money, you should use an "in-network" pharmacy. Many plans also have "preferred" in-network pharmacies where your co-pays will be even lower. We can help you check if your favorite local pharmacy is preferred by the best plan for you.

This is a very common experience, and it's why an annual plan review is so important. Each year, insurance companies can change their plan's monthly premium, annual deductible, and most importantly, their list of covered drugs (the formulary). A medication that was in a low-cost tier last year might be moved to a higher-cost tier this year, or a preferred pharmacy could be removed from the network. The only way to ensure you're still on the best plan is to compare it with the new options available each fall.