2020 Medicare Part D Deductible: How it Works

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It’s the Annual Enrollment Period and the questions about the Medicare Part D plans are flowing in. One very common question is: “What is the Part D deductible and how does it work?”

Most Medicare Part D Plans in 2020 have a deductible. The average deductible for 2020 is $435 for the year. Typically, we understand that with a deductible we have to pay the whole cost of the prescription before the plan is going to kick in and pay anything. This is not the case with most of the drug plans for 2020. The drug plans that show a deductible of $435, the deductible will only apply to tier 3, tier 4 and tier 5 medications. What this means is that if you are taking a tier 1 preferred generic or tier 2 non preferred generic, with most Part D drug plans for 2020, you will either pay nothing or $1.00 to $4.00 for those medications. You may never reach that deductible if those are the only types of medications you are taking.

If you have any questions regarding Medicare Part D, please give our office a call at 1-855-368-4717 or visit one of our pages:

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