Medicare Part D

Partner with Schwenker Senior Insurance to find the prescription drug coverage you need.

Medicare Part D Made Simple

Prescription drug coverage that fits your life — and your budget.

If you’re on Medicare, chances are you’ll need coverage for prescriptions — and that’s where Part D comes in. But don’t worry — it doesn’t have to be confusing. Let’s break it down.

What is Medicare Part D?

Part D is Medicare’s prescription drug coverage. It helps pay for medications your doctor prescribes — whether it’s something routine like blood pressure meds or something more specialized. You can get Part D coverage in one of two ways: through a standalone Part D plan (if you have Original Medicare or a Medigap plan) or included with most Medicare Advantage (MAPD) plans.

What Does It Cover?

Each plan has its own formulary — a list of covered drugs — but all Part D plans cover common medications in key categories (like heart, diabetes, or depression), at least two drugs per category to give you options, and vaccines like shingles and Tdap at no cost. Some drugs may require prior authorization or step therapy. Plans also group medications into tiers (generic, brand-name, specialty), which affects your copay.

What Does It Cost?

Part D plans vary in cost, but here’s what to expect: a monthly premium — which can range from $0 (if included in your MAPD plan) to $30+ for standalone plans — an annual deductible (some plans have one, some don’t), and copays or coinsurance based on your drug tier. Higher-income individuals may also pay an extra monthly amount, called IRMAA, which is set by Medicare. Pro Tip: Even if you don’t take medications now, consider enrolling in a low-cost plan to avoid lifetime penalties.

How Do I Pick a Plan?

That’s where we come in. We’ll help you review your current medications, compare plans available in your area, look at local pharmacies versus mail order, and avoid surprises like drug exclusions, tier jumps, or coverage gaps. The best plan for your neighbor might not be the best for you — and plans can change every year.

When Can I Enroll?

You can enroll in a Part D plan when you first become eligible for Medicare, during the Annual Enrollment Period (October 15 – December 7), or if you qualify for a Special Enrollment Period due to a life change like moving or losing coverage. Even if you only have Medicare Part A, you’re still allowed to enroll in a standalone Part D drug plan — you don’t have to wait until you have both Parts A and B. And don’t forget: if you delay enrolling in a Part D plan and don’t have other creditable drug coverage, you may face a lifetime late enrollment penalty. That’s why it’s usually smart to get some form of coverage, even if your current prescriptions are minimal.

Quick Reference Guide

Let’s simplify some common pitfalls and terms so you feel confident choosing coverage.

Top 3 Mistakes People Make with Part D

Sample Drug Tier Chart

Most plans use a tiered pricing system to group medications. Here's a simplified example:

Tip: We’ll help you find the plan that keeps your medications in the lowest-cost tier possible.

Let’s Make It Easy

Prescription drug coverage can feel overwhelming — but it doesn’t have to be. We’re here to walk you through it, step by step, with no pressure and no guesswork. Call today to go over your options — or send us your med list and we’ll run a custom comparison.

Simple. Smart. Personalized.

Ready to Start?

Compare plans and find the right coverage for you