Does Part D Medicare Cost Too Much?

Find out if you’ll be able to afford the Part D Medicare cost before adding it onto your Medicare plan.

Medicare Part D is an optional fourth part of the Medicare tiers available to senior citizens once they turn 65. It is generally known as the tier that handles payment of prescription medicine and nothing more. In some cases, the Part D Medicare cost can be overwhelmingly expensive for some patients, leaving them unable to purchase it. These are some of the inclusions and protocols that are used under the Medicare Part D.

Costs Under Medicare Part D

Generally, when a senior citizen purchases part D of the Medicare system, they are generally going to have to pay for four different types of costs. These include co-payments, deductibles, premiums, and the gap in coverage, when you must cover the costs of your prescription medicine. In some cases, patients with lower incomes can request help through the form of a subsidy from Social Security.

How Medicare Part D Works and How Much it Costs

The Part D Medicare cost in 2010 was roughly around $50/month. However, the standard in 2010 was that a senior citizen had to pay $310 out of pocket for prescription medicine before the Medicare Part D coverage would kick in. After Part D kicks in, Medicare will generally cover roughly around 75% of the cost of the prescription medication.

However, once a certain threshold amount is reached from payments toward prescription medicine from both the Medicare system and the patient, the coverage is automatically severed and the patient must carry on paying the full amount for the rest of the term. Medicare Part D will start paying again (at 95% of the cost) after this threshold is reached only if the patient reaches what is called a “catostrophic level” of finances paid for prescription medicine.

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