Medicare Advantage Open Enrollment: January 1 to March 31

MEDICARE · PART D

Prescription

Drug Plans.

Medicare Part D helps cover the cost of your medications. Recent changes made it simpler than ever, the old “donut hole” is gone, and there’s now a yearly cap on what you pay out of pocket.

How do prescription drug plans work?

A Part D plan covers your prescriptions through a few coverage phases each year. As of the 2025 redesign there are now three phases instead of four, and a firm annual out-of-pocket limit caps your total spending.

THE PHASES

Part D in three simple phases

Here’s how your costs flow across the year.

Deductible

You pay 100% of your drug costs until you meet your plan’s deductible, up to $615 in 2026. Many plans set this lower, or $0 for generics.

Initial Coverage

You pay about 25% of the cost, copays or coinsurance based on your plan’s tiered formulary (generics, preferred brands, specialty, etc.), until your out-of-pocket spending reaches the yearly cap.

Catastrophic Coverage

You pay 100% of your drug costs until you meet your plan’s deductible, up to $615 in 2026. Many plans set this lower, or $0 for generics.

The donut hole is gone, and your costs are now capped.

Thanks to recent Medicare changes, once you reach the yearly out-of-pocket limit ($2,100 in 2026) your covered drugs cost you $0 for the rest of the year.

Note: Deductible and cap amounts are set by Medicare and change every year. We’ll always confirm the current-year figures and find the plan that covers your specific medications.

HOW WOULD I ENROLL?

Let’s find your plan

Plans and formularies vary by ZIP code. We’ll compare what’s
available and make sure your prescriptions are covered.

By submitting your information, you acknowledge a licensed insurance agent may contact you by phone, email, or mail to discuss and quote Medicare Advantage Plans, Medicare Supplement Insurance, or Prescription Drug Plan

NO COST · NO OBLIGATION

Let us be your advocate.

Tell us a little about your situation and a licensed local advocate
will reach out. It's free, and there's never any pressure to enroll.

☎ (806) 221-2070 · ⚲ 2200 W. 5th St. Suite A, Plainview, TX · ◷ Mon–Thu 9–12 & 1–5 · Fri 9–12

Sí, hablamos español

Golden Age Financial

· Life. Health. Retirement.

We do not offer every plan available in your area. Any information we provide is limited to those plans we do offer in your area. Please contact Medicare.gov or 1-800 MEDICARE to get information on all of your options.

© 2026 Golden Age Financial, LLC., All Rights Reserved.