If you're enrolled in Original Medicare or a Medicare Supplement plan, you'll want to consider adding a Medicare Part D plan for prescription drug coverage. Part D plans are offered by private insurance companies and can help significantly reduce what you pay for medications.
How Part D Works
Each Part D plan has a formulary — a list of covered medications organized into tiers. Lower-tier drugs (usually generics) cost less, while higher-tier drugs (brand-name or specialty) cost more. Not all plans cover the same drugs, so it's critical to compare formularies based on your specific medications.
Key Costs to Understand
Part D plans typically involve: a monthly premium, an annual deductible, copays or coinsurance for each prescription, and a coverage gap (also known as the 'donut hole'). In 2026, once you and your plan have spent a certain amount on drugs, you enter the coverage gap where your costs may change until catastrophic coverage kicks in.
When to Enroll
You can first enroll in Part D during your Initial Enrollment Period — the 7-month window around your 65th birthday. After that, you can make changes during the Annual Enrollment Period (October 15 – December 7). If you delay enrollment without creditable drug coverage, you may face a late enrollment penalty that increases your premium permanently.
Extra Help for Low-Income Beneficiaries
If your income and resources are limited, you may qualify for Extra Help (also called the Low-Income Subsidy or LIS). This program can pay for most or all of your Part D costs, including premiums, deductibles, and copays.
How We Help
At Seniors 4 Healthcare, we review your current medications and compare them against available Part D plans to find the best match. We do the research so you don't have to — and our service is always free. Call us at (915) 497-6209 or visit our El Paso office.