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Medicare Part D Costs

2021 Medicare Part D Deductible

If your plan has a deductible it can be no more than $445. This is the initial deductible for covered drugs under your plan.

You will be responsible for this amount before any copays or coinsurance.

2021 Initial Coverage Limit


2021 Threshold


2021 Medicare Part D Late Enrollment Penalty (LEP)

If you have been without Medicare Drug coverage or creditable coverage for 63 days or more you will have to pay a late enrollment penalty for Part D. This is based on the national base premium of $33.06. 

How to calculate your LEP

Take 1% of the national base premium for each full month you were without coverage. If you went without coverage for 12 months the math would be .12 x $33.06 rounded to the nearest $0.10 is $4.00. This amount would be added to your Part D premium monthly for life.

2021 Medicare Part D Drug Tiers

Your drug plan will have a list of covered drugs called a formulary. The drugs are divided into 5 Tiers and copays or coinsurance will be associated with each tier.  High cost drugs are in higher tiers. If you are able to use generic drugs this will help keep your costs lower.

1. Preferred Generic 

2. Generic

3. Preferred Brand

4. Non-Preferred Brand

5. Specialty