In most cases, you must pay your Medicare Part D plan's Initial Deductible before you receive Medicare Part D coverage - just as you would with other types of insurance, such as automobile insurance.
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You will pay the Tier 1 or Tier 2 co-payment for your medications, if these two formulary tiers are excluded from the initial deductible - even when the initial deductible is not yet met.
If your M . . .
You will never pay more than your Medicare Part D plan's negotiated retail drug price - so even when your low-costing generic drug is placed on an expensive formulary tier - you will pay the lower retail cost and not the higher co-pay.
Your Medicare Part D plan's second phase is the the Initial Coverage Phase and during this part of coverage you and your
Medicare Part D plan share in the cost of your medication purchases based on y . . .
Cost-sharing refers to the portion of your Medicare Part D plan coverage or Medicare Advantage plan coverage that you pay (such as $30 to fill a brand-name prescription or $20 to visit a doctor).
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