How much will people have to pay for Medicare Part D prescription drug coverage?
Many plans have a yearly deductible of $295. In addition, the typical monthly premium is about $36 in 2009. Plus, participants pay a portion of the cost (a co-payment) for each prescription based on the plan you select. Once a beneficiary has paid the entire deductible amount of $295 (where applicable), Medicare will pay up to 75% of prescription drug costs. You pay the other 25% until total drug expenditures reach $2,700. In other words, you pay $601.25 for the next $2,405 of expense!
