What is a deductible and how does it work in a Part D plan?
The deductible is the amount you are required to spend for your medication before your plan begins to pay their share. If the plan you choose has a $400 deductible you will pay the full cost of your prescriptions until you’ve paid $400. Once you’ve met the deductible, you will be responsible only for the copayment or coinsurance required on future prescriptions. Not all Part D plans have a deductible. Learn more about Medicare plan costs here.
For more information about deductible costs and how they’ve changed in 2020, click here