Medicare Part D 2026: Prescription Drug Plans, Costs & Enrollment
Medicare Part D 2026: Prescription Drug Plans, Costs & Enrollment Prescription drugs can cost thousands per year — Medicare Part D helps cover them. This guide explains how Part D works, 2026 costs (including the new $2,000 out-of-pocket cap), and how to choose the best plan. What Is Medicare Part D? Optional prescription drug coverage offered by private insurers approved by Medicare. Two ways to get it: Standalone Part D plan (with Original Medicare) or Medicare Advantage with drug coverage (MAPD). Covers: Most prescription drugs (brand + generic). Does NOT cover: Over-the-counter drugs, weight loss drugs (mostly), cosmetic drugs, drugs covered by Part A/B. How Part D Works (4 Phases in 2026) 1. Deductible: You pay first $590 (2026). 2. Initial Coverage: Plan pays 75%, you pay 25% (up to $5,030 total drug costs). 3. Coverage Gap ("Donut Hole"): ELIMINATED in 2025 by the Inflation Reduction Act. You now pay 25% until you hit the out-of-pocket cap. 4. Catastroph...