Key Takeaways
There are up to four phases of cost-sharing for people enrolled in a Medicare Part D prescription drug plan.
Our chart explains what people with Medicare will pay in each phase, up to a total of $6,550 out-of-pocket before someone reaches the Catastrophic Benefits Period in 2021.
Learn more about what Medicare Part D for your prescription drugs might cost in 2021.
What will people with Medicare Part D pay for their prescription drug plans in 2021?
This cost-sharing chart outlines what people with Medicare will pay for prescription coverage in each phase, including:
- A deductible of up to $445 (varies by plan)
- 25% of the costs of their prescription drugs in the Initial Coverage Period (or up to $1,032.50 if in a plan with no deductible)
- Up to a total of $6,550 out-of-pocket before the beneficiary reaches the Catastrophic Benefits Period. Once they hit this threshold, the Medicare beneficiary will pay either 5% coinsurance or $3.70 copay for generic medications, and $9.20 for brand-name drugs.
