No, but you can choose a plan with lower retail drug prices.
cost-sharing is the same for all Medicare Part D
plans - but, Medicare plans will have different retail drug prices that
can affect your drug costs in the Catastrophic Coverage phase.
the Catastrophic Coverage phase, you will pay the greater of a flat fee
(set annually) of 5% of the plan's negotiated retail drug cost for your
formulary medications, depending on the type of drug -- generics or
preferred brand drugs that are multi-source drugs vs. all other drugs.
For example, in 2021
, you pay the higher of either 5% of retail prices or $9.20 for brands or $3.70 for generics in Catastrophic Coverage.
And in in 2022
, you pay the higher of either 5% of retail prices or $9.85 for brands or $3.95 for generics in Catastrophic Coverage.
So if you are using a single-source, brand drug with a $100 retail price, you would pay $9.20 since the fixed co-pay of $9.20 is more than (5% of $100) or $5. If another plan has a $150 retail cost, you would still pay $9.20 since this is still higher than (5% of $150) or $7.50. In this case retail cost does not affect your fixed Catastrophic Coverage cost.
However, for an example of a higher-costing drug: if "Medicare Part D Plan AAA" has a retail cost for Drug X
of $400, you would pay $20 in the Catastrophic Coverage phase. But if
"Medicare Part D Plan BBB" has a retail cost for the same Drug X of
$500, you would pay $25 - or $5 more than the cost with Medicare Part D
As a real-life example, a popular Medicare Part D drug
with a high retail price (assume $6,000), might cost 33% of retail during the Initial Coverage Phase (about $1,980), 25% of retail in the Coverage Gap or Donut Hole ($1,500), and 5% of retail in Catastrophic Coverage ($300). If the retail cost of the medication for another Medicare Part D plan was $7,000, then you would pay $350 in Catastrophic Coverage.
As noted, if you reach the Catastrophic Coverage phase, you will find that your
Medicare Part D Catastrophic
Coverage phase has the same cost-sharing structure as every other
Medicare Part D
plan. However, your actual drug cost in this phase can vary between
drug plans since your costs are based on your Medicare Part D plan's
negotiated retail drug price - and retail drug prices can vary between
Medicare Part D prescription drug plans.