Prescription Drug Plans Part D
Affordable Prescription Coverage That Fits Your Needs
Prescription medications can be a significant part of your healthcare costs, but with a Medicare Part D plan, you can save money while ensuring access to the medications you rely on. Part D plans are designed to work alongside your Medicare coverage, offering a variety of options tailored to fit your budget and medication needs.
Making the right Medicare choice can feel overwhelming—but having a trusted expert by your side can make all the difference.
Why Choose a Medicare Part D Plan?
Lower Prescription Costs
Reduce out-of-pocket expenses for both brand-name and generic medications.
Broad Coverage
Access thousands of prescription drugs through nationwide pharmacy networks.
Flexibility
Choose a plan that fits your specific medication needs and budget.
How Part D Plans Work
Medicare Part D is optional, allowing you to decide whether or not to enroll. By choosing Part D, you gain access to retail prescription drugs at reduced costs and protection against catastrophic expenses if you require high-cost medications.
- Monthly Premiums: Pay a low monthly premium for your prescription drug coverage.
- Annual Deductibles: Some plans have no deductible, while others require meeting a set amount before coverage begins.
- Cost Sharing: Pay a copayment or coinsurance for prescriptions, depending on the drug tier.
Big Changes Are Coming to Medicare Part D—We’re Here to Help
Medicare Part D is undergoing significant updates designed to make prescription drug costs more manageable. These changes include:
- Out-of-Pocket Cap: Starting in 2025, your yearly out-of-pocket costs for prescriptions will be capped at $2,000, giving you more predictable expenses.
- Simplified Coverage: The “donut hole” coverage gap is being eliminated, making your drug coverage easier to understand and budget for.
- Flexible Payment Options: You’ll be able to spread out your out-of-pocket expenses with a new monthly payment plan.
- Lower Drug Prices: Medicare will negotiate the costs of some high-priced medications, which means more savings for you.
Understanding these updates and choosing the right plan can feel overwhelming, but that’s where Lowell Ryals comes in. With decades of experience serving local communities in Southwest Missouri, Lowell will:
- Review your current Part D plan and explain how these changes may affect you.
- Help you compare plans to ensure you’re getting the best coverage for your needs.
- Confirm all your prescriptions are included in the plan’s formulary
- Find the plan with the lowest overall cost, including premiums, deductibles, and copays
- Provide personalized guidance, whether in person or over the phone, so you can confidently navigate these updates.
Take the Guesswork Out of Medicare Part D
Get expert help from a trusted local agent. Contact Lowell Ryals today to schedule a consultation and make sure you’re ready for the changes ahead.
Lowell Ryals
Lowell Ryals is a trusted independent insurance agent specializing in Medicare, offering personalized care and guidance to clients throughout Southwest Missouri with offices in Springfield and Greenfield.
Get your Questions Answered
Have questions about Medicare? Request a call from Lowell and get personalized guidance tailored to your needs. Fill out the form below, and he’ll be in touch soon!