Medicare Part D Prescription Drug Plans in Colorado
Medicare Part D is prescription drug coverage offered by private insurers. You can get it as a stand-alone plan (PDP) alongside Original Medicare and a Medigap plan, or built into most Medicare Advantage plans. Part D now has an annual out-of-pocket cap on covered drug costs.
Every Part D plan has its own formulary (list of covered drugs), pricing tiers and preferred pharmacies. The plan with the lowest premium isn't always the cheapest once your prescriptions are added in.
As local Westminster brokers, we enter your medications and preferred pharmacy, compare total yearly cost across plans, then recheck every fall because formularies change. It costs you nothing.
How Medicare Part D Works in Colorado
We price your actual prescriptions and pharmacy across Part D plans so you pay the lowest total cost.
Who We Help
People on Original Medicare plus Medigap who need drug coverage, anyone new to Medicare, members whose drug costs went up, and people taking brand-name or specialty medications.
What It Costs
A monthly premium, a possible deductible, and copays or coinsurance by drug tier. Part D now has an annual out-of-pocket cap on covered drugs. Higher-income enrollees pay an extra amount (IRMAA).
How We Help
We enter your prescriptions and pharmacy, compare total yearly cost across the Part D plans we represent, handle enrollment and recheck your plan every fall, at no cost to you.
Talk to a Local Medicare Broker
Medicare brokers are paid by the insurance companies, and plan premiums are the same whether you enroll with a broker or directly. Call 970-685-2066 or request a free quote, and we'll walk you through every Medicare Supplement and Part D option available in your county.
Medicare Part D FAQs
Usually it's still wise to enroll in a low-cost plan. If you go 63 or more days without creditable drug coverage after becoming eligible, you can face a permanent late enrollment penalty.
Part D covers only prescriptions and is paired with Original Medicare. Medicare Advantage is a full health plan that usually includes Part D drug coverage.
During Annual Enrollment, October 15 to December 7, with the new plan starting January 1. Some life events also allow changes.
Yes. Starting in 2025, Part D has an annual out-of-pocket cap on covered drugs, adjusted each year. Once you reach it, you pay nothing more for covered drugs that year.