Medicare Part D is optional prescription drug insurance for Medicare beneficiaries to offset the cost of prescription medications. Over 59 million Medicare beneficiaries are enrolled in Medicare Part D. Part D plans are administered by private insurance carriers but regulated by the Centers for Medicare and Medicaid Services (CMS). With over 40 insurance carriers to choose from, it can be overwhelming to narrow your choices. That’s why we reviewed the Medicare Part D plans for 2024 and created this list of top-rated Medicare Part D Plans.
Medicare Part D plan reviews for 2024: our top picks
- UnitedHealthcare — best overall Medicare Part D plan
- Humana — best member benefits
- Aetna — best averaged CMS star ratings
- Cigna — best unique plan offerings
- Wellcare — best budget-friendly plans
Detailed reviews: best Medicare Part D plans 2024
Based on our analysis, our top five insurance carriers are UnitedHealthcare, Humana, Aetna, Cigna, and Wellcare, which administer over 60% of all Medicare Part D plans. Their exemplary plans offer many vital features that Medicare beneficiaries seek in prescription drug coverage, such as affordability, great customer service, easy accessibility, broad formularies (drug lists), and national pharmacy networks. Read more to discover which plans may be a good fit for your prescription needs.
1. UnitedHealthcare — best overall Medicare Part D plan
-
Available in all 50 states, with variations based on plan types
-
Provides dental, vision, hearing, and lifestyle benefits
-
Rated 5 out of 5 by CMS
UnitedHealthcare (UHC) is a long-standing insurance carrier offering three Medicare Part D plans in 2024. UHC is known for its network of preferred pharmacies and Optum Home Delivery program, which provides savings and convenience. Using Walgreens or Duane Reade pharmacies can maximize savings for members. UHC provides plans in all 50 states plus Washington D.C., Virgin Islands, Northern Mariana Islands, and Puerto Rico, although benefits vary by location. UHC offers three Part D plans: AARP MedicareRx Preferred, AARP MedicareRx Saver Plus, and AARP MedicareRx Walgreens.
Monthly premiums: $54.20–101.90
2. Humana — best member benefits
-
Available in all 50 states, Washington, DC, and Puerto Rico, with variations based on plan types
-
May cover transportation, meal delivery service, and lifestyle expenses
-
Rated 4.3 out of 5 by CMS
Humana’s three Medicare Part D plans include Humana Walmart Value Rx Plan, Humana Premier Rx Plan, and Humana Basic Rx Plan. Humana offers a broad pharmacy network with preferred cost-sharing at the following pharmacies: CenterWell Pharmacy, Walmart, Walmart Neighborhood Market, Sam’s Club, Publix, H-E-B, Costco pharmacies, and the Albertsons Companies family of pharmacies. Some of Humana’s unique offerings include a mail order program to have medications shipped to you, medication therapy management for qualifying members with multiple chronic conditions, a user-friendly website, and over 3,450 prescription drugs covered in their formularies.
Monthly premiums: $47.10–108.30
3. Aetna — best averaged CMS star ratings
-
Available in 49 states and Washington, DC, with variations based on plan types
-
Along dental, vision, and hearing coverage, it also offers lifestyle benefits
-
Rated 4.06 out of 5 by CMS
Aetna offers three Medicare Part D plans, including SilverScript SmartSaver, SilverScript Choice, and SilverScript Plus, designed to fit various budgets and prescription needs. Aetna is a well-known insurance carrier with good quality ratings from CMS. Their national CMS star rating average is 3.5 in 2024, the highest of our reviewed plans. Aetna’s unique offerings include additional gap coverage for Tier 1/Tier 2 drugs with the SilverScript Plus plan and free standard mail delivery on SilverScript Choice plans. Aetna PDP plans are available in the 50 states and the District of Columbia.
Monthly premiums: $9.80–98.40
4. Cigna — best unique plan offerings
-
Available in 26 states and Washington, DC, with variations based on plan types
-
Includes dental, hearing, vision, lifestyle, and transportation benefits
-
Rated 4.17 out of 5 by CMS
Cigna Medicare Part D Plans offers unique programs such as LASIK vision correction savings, Gaiam yoga products, acupuncture, and savings with pharmacy networks. Cigna’s Medicare Part D plans include Cigna Secure Rx Plan, Cigna Saver Rx Plan, and Cigna Extra Rx Plan. They have an expansive drug formulary covering 3,000-plus commonly used medications by Medicare beneficiaries. Most plans include an option for mail order, which can help reduce costs when ordering a 90-day supply. On most plans, Cigna achieved 4-star ratings in the customer service category. The customer service rating is different from the overall star rating, in which Cigna obtained 3 stars for 2024.
Monthly premiums: $17.10–81.80
5. Wellcare — best budget-friendly plans
-
Available in 50 states and Washington, DC, with variations based on plan types
-
Offers preventative services, wellcare and lifestyle benefits
-
Rated 3.03 out of 5 by CMS
Wellcare is an insurance carrier contracted with Medicare to provide Part D plans. They are well-equipped to serve individuals who qualify for Extra Help, also known as Low Income Subsidy. Low-cost premiums and copays characterize Wellcare Plans, and many plans have no deductibles. They offer the Wellcare Classic, Wellcare Medicare Rx Value Plus, and Wellcare Value Script. Wellcare is available in all 50 states and Washington, D.C.
Monthly premiums: $0.50–78.90
*Note that with any plan, benefit availability will vary by plan and area.
How we ranked the Best Medicare Part D Plan providers
We ranked the Best Medicare Part D plans by evaluating publicly available data from CMS.gov to analyze averages of premiums and deductibles and identify plans with additional gap coverage. The data set also provided insights into the Plans’ State availability, Drug Benefit Types, and quality ratings.
CMS star ratings range from 1 (poor) to 5 (excellent) and are evaluated annually. The overall star rating is based on the categories below:
- Drug plan customer service
- Member complaints and changes in the drug plan's performance
- Member experience with the drug plan
- Drug safety and accuracy of drug pricing
The chart below outlines the data we collected.
| UnitedHealthcare | Humana | Aetna | Cigna | Wellcare | |
| Average of monthly drug premium | $59.94 | $51.28 | $38.60 | $36.56 | $37.95 |
| Average of annual drug deductible | $291.96 | $440.13 | $336.67 | $370 | $336.67 |
| Average of CMS star rating | 3.2 | 3 | 3.5 | 3 | 3 |
| Additional gap coverage | 32% of plans | 34% of plans | 33% of plans | 33% of plans | 0% of plans |
| State availability | 50 states; Washington, D.C.; Virgin Islands; Northern Mariana Islands; Puerto Rico | 50 states; Washington, D.C.; Puerto Rico | 50 states; Washington, D.C. | 50 states; Washington; D.C.; Puerto Rico | 50 states; Washington, D.C. |
| Number of plans available | 158 | 155 | 153 | 156 | 153 |
| Drug benefit type | Basic – 56; Enhanced – 102 | Basic – 52; Enhanced – 103 | Basic – 51; Enhanced – 102 | Basic – 52; Enhanced – 104 | Basic – 51; Enhanced – 102 |
*Data available from CMS.gov “2023 PDP Landscape Source File (v 10 14 2022)”
What is Medicare Part D and why is it important?
Medicare Part D is a drug benefit for individuals with Medicare that helps cover the cost of prescriptions. It is an optional benefit that can be especially helpful for seniors needing financial assistance with their prescription drug costs. A few changes to the Medicare Part D for 2024 include:
- The standard deductible increased from $505 in 2023 to $545 in 2024.
- The initial coverage limit is increasing from $4,660 to $5,030.
- Expansion of eligibility for the Medicare Part D Low-Income Subsidy program (“Extra Help”) which helps people with limited income to pay certain costs associated with Medicare Part D.
You can obtain Medicare prescription drug coverage from two primary sources:
- Medicare Prescription Drug Plan (PDP) for individuals who have Original Medicare coverage or a Medicare supplement plan. They are also known as 'stand-alone' or 'standard' plans.
- Medicare Advantage Plan with prescription drug coverage (MA-PD) for individuals who have Medicare Part C.
The Supplementary Medicare Insurance Trust Fund funds Medicare Part D. Part D plans include cost sharing, but the amounts will vary per plan for monthly premiums, annual deductibles, copays, and coinsurance. According to CMS, the average monthly premium for a stand-alone Part D plan is $34.70 for 2024. MA-PD plans do not have separate premiums for the prescription coverage portion since Medicare Advantage Plans with prescription coverage bundle services include Medicare Parts A, B, and D. It should be noted that not all Medicare Advantage plans bundle with Part D. Be sure to check if the Medicare Advantage plan you're interested in includes Part D.
How does Medicare Part D work?
To participate in a Medicare Part D plan, most plans require paying a premium and cost-sharing fees in exchange for the drug coverage. The Centers for Medicare and Medicaid Services (CMS) regulates Part D but does not directly provide plans; instead, CMS contracts private companies to administer the plans.
All drug plan prices progress through four main phases or periods throughout the year. These four phases calculate costs per their cost structure, meaning a drug price can fluctuate throughout the year, even within the same plan. The four main phases are deductible, initial coverage period, coverage gap, and catastrophic benefit period. The phases progress to the following phase once the monetary max is achieved for that phase. Deductible is the first phase, which starts in January of each year.
Below is a chart summarizing the responsible party and how costs are structured during each phase. This is a general overview. Other cost variables include if the drug is covered in the plan’s formulary, what tier the drug is in, how much supply you are getting, and the manufacturer’s prices. Your specific plan may vary, so verifying your plan is essential.
| Phase | Responsible party | Cost structure | Total dollars |
| 1. Deductible | Beneficiary | 100% paid by beneficiary (some plans have no deductible; in this case, you enter straight into ICP) | Max of $545 |
| 2. Initial Coverage Period (ICP) | Beneficiary and plan | 25% by beneficiary 75% by plan | $5,030 |
| 3. Coverage Gap (donut hole) | Beneficiary, plan, and manufacturers | Generics: 25% by beneficiary and 75% by plan; Brand name: 5% by plan and 70% discounted by manufacturer. | $7,400 |
| 4. Catastrophic Benefit Period | Beneficiary and plan | Generics: 5% by beneficiary, coinsurance or $4.15 copay (whichever is greater); Brand name: 5% coinsurance or $10.35 copy (whichever is greater); The plan covers the difference. | >$7,401 |
The implementation of the Inflation Reduction Act of 2022 will soon change some of these limits, and it will also empower Medicare to negotiate drug prices. CMS aims to improve Part D plans with a strong focus on reducing costs.
Medicare Part D coverage
Medicare Part D drug plans cover a wide variety of drugs, but not every drug is included, so it’s essential to check your elected plan’s formulary to see if your prescribed medicines are covered. It’s also important to note that some medications are generally excluded from coverage, like vitamins, hair growth, erectile dysfunction, and other drugs.
What to look for in a Medicare Part D Plan
To understand Part D coverage, it's important to know these key terms:
- Formulary. The plan’s list of covered medications is called a formulary. Medications may be added or removed at any time during the year. Medicare drug plans must offer at least two medications in the most commonly prescribed drug categories and classes to ensure equitable medication access for most beneficiaries. Plans are allowed to select which medications to include in their formulary.
- Tiers. The formulary is organized into tiers. Typically, the lower-level tiers cost less than the higher-level tiers. Generic medicines are usually in lower-level tiers, while brand-name medications are in the higher-level tiers. Your plan will typically require you to use lower-level tiers unless medically necessary. Your doctor can request an exemption to use a higher-level tiered medication if they deem it necessary.
- Basic or Enhanced. PDP plans are available as either basic or enhanced options. Basic plans provide the standard coverage, while enhanced plans offer a more comprehensive array of options such as larger formularies, lower cost-sharing, and inclusion of some medicines typically excluded from formularies. According to CMS, approximately 75% of beneficiaries elect enhanced plans. There are 465 Basic plans and 757 Enhanced plans.
How to enroll in Medicare Part D
Medicare Part D is an optional benefit. You must have Medicare Part A and/or B coverage to qualify for enrollment. Although optional, a permanent late enrollment penalty is added to monthly premiums if you do not enroll when initially eligible. You may opt out of Part D coverage if you have 'credible coverage,' meaning the prescription drug coverage pays as much or more than Medicare Part D coverage. See below for more information regarding how to sign up for Medicare Part D.
Step-by-step guide: Medicare Part D enrollment 2024
Since Medicare Part D is optional coverage, it is not automatic and you must enroll in a drug plan in order to receive coverage for prescription drugs. Here are steps to follow for Medicare Part D enrollment in 2024.
- In order to enroll in Medicare Part D plan, you must be a citizen of the United States or lawfully present in the United States.
- Next, you will want to review coverage options. You can go to Medicare.gov/plan-compare to review cost and plan information for specific Medicare drug plans such as the ones listed above. You can contact the insurers for additional information regarding plans that interest you. If you do not have other financial assistance to help cover your medications such as Medicaid, you should consider selecting “yes” when asked “Do you want to see your drug costs when you compare plans?” This will provide you with an estimate of how much you would spend on medications with each plan.
- After evaluating your options and selecting the plan that best meets your needs, you have multiple options to enroll. You’ll need your Medicare card handy when you enroll as you will be asked about the start dates of your Original Medicare coverage. Options to enroll include: Signing up online via the plan's website; Calling 1-800-MEDICARE (1-800-633-4227). TTY: 1-877-486-2048; Completing a paper application; Contacting the insurance carrier directly.
Costs and deductibles of Medicare Part D plans in 2024
Medicare Part D plan costs can be confusing because the costs can fluctuate throughout the year. Let’s start by defining the terms:
- Premium. This is how much you pay each month to maintain prescription drug coverage. Premiums generally remain the same throughout the year.
- Annual deductible. Most plans have a yearly deductible, the out-of-pocket cost you will spend before the plan starts sharing costs. The maximum amount allowed in 2024 is $545. Some plans do not charge a drug deductible.
- Copay. Part of cost-sharing is that you will pay part of the cost of the medication. Copays charge a flat rate that varies per medication. Generally, generic drugs are cheaper than brand-name drugs.
- Coinsurance. In this type of cost-sharing, you will pay a percentage of the cost of the medication versus a flat rate as in copays. Coinsurance dollar amounts vary because it is a percentage of the drug’s cost, which can also fluctuate.
The costs are subject to change based on several factors, such as what coverage phase you’re in, how much the manufacturer charges for the drug, and if the pharmacy you use is in-network with your plan. Manufacturers can change medication prices throughout the year.
Medicare Part D premiums and deductibles
Medicare Part D premiums and deductibles will vary between plans based on where you live, the plan you select, and the specific services covered. Your income may also affect the amount of your premium. For individuals with an income above $103,000, if you file individually or $206,000 if you’re married and file jointly, you may have to pay an additional amount on top of your premium each month. Deductibles will also vary between plans, and it's important to note that some tiers of drugs are covered before the deductible such as medications in Tier 1 or Tier 2.
47 insurance carriers offer 1,222 PDP plans (employer-sponsored plans are excluded) in 2024. Some cost averages for PDP plans include the following:
| Avg. monthly drug premium | Avg. annual drug deductible | Avg. star rating |
| $49.26 | $389.28 | 2.8 |
Those needing extra financial assistance can apply for the Low Income Subsidy (LIS), also known as Extra Help, program to obtain assistance paying for prescription drugs and Medicare prescription drug coverage.
Choosing the best Medicare Part D plan
Choosing the best Medicare Part D plan is a personal choice that depends on which plans are available in your zip code and county, which prescription medications you take regularly, and what you value most from a prescription drug plan. Asking yourself some of the questions below could help identify a plan best suited for your needs:
- Cost. What are the plan’s cost-sharing requirements? Monthly premiums? Coinsurance/copays? Annual deductible? Do they fit your budget?
- Gap coverage. Does the plan offer additional coverage in the gap phase to help cover costs?
- Drug formulary. Are your prescribed medications in the plan’s list of covered medications? If not, you may have to pay more for medicines not included in the formulary. What tiers are my drugs assigned to?
- Availability. Is your selected plan available in your county and zip code?
- Network Coverage. What local pharmacies are in-network with the plan? Do they offer mail-order services?
- Quality. What are the CMS star ratings for my selected plan? Does the insurance carrier have a history of providing good quality care?
- PDP or MA-PD. Do you need a stand-alone drug plan (PDP), or are you looking to consolidate your other Medicare benefits with a drug plan like a Medicare Advantage Plan (MA-PD)?
If you’d like to discuss your Medicare Part D options with an unbiased resource, contact your State’s State Health Insurance Assistance Program (SHIP) or call 1-877-839-2675. These state counselors offer free, expert help in understanding and using Medicare benefits.
Medicare Advantage plans in other states
Best MA plans in Maryland 2024
Best MA plans in South Carolina 2024
Best MA plans in North Carolina 2024
Best Medicare Advantage plans 2024
Best Medicare Plans for Cancer Patients 2024
FAQ
What is the Medicare Part D Premium for 2024?
The average for Medicare Part D Premiums in 2024 is $49.26, according to CMS’ 2023 Landscape Source File. The average for the basic standard Medicare Part D plans is a little lower at $32.09. Some plans offer $0 premiums.
Does Medicare Part D have a deductible?
Yes, most Medicare Part D plans have an annual deductible that must be met before the plan begins to offset prescription costs. The maximum deductible in 2024 is $545. Some PDP plans do not require an annual drug deductible.
What are the top-selling Medicare Part D drugs?
The top-selling Medicare Part D drugs are blood thinners Eliquis and Xarelto; cancer drugs, Revlimid and Imbruvica; and diabetic drugs, Trulicity, Januvia, Jardiance, Humira (Cf) Pen, Lantus Solostar, and Ozempic.
What is the best Medicare Part D plan for 2024?
The best overall Medicare Part D plan for 2024 is UnitedHealthcare, considering its plan quality, availability, and member value. However, it is best to compare plans and shop for the Medicare Part D plan that offers the best for your prescription needs.
Can I switch Medicare Part D plans mid-year?
Yes. There is a Special Enrollment Period in which you can switch your Medicare plan under certain conditions. These situations can include if you move to an area where your current plan is not offered or you lose your insurance coverage at no fault of your own.
8 resources
- Medicare.gov. What Medicare Part D drug plans cover.
- Medicare.gov. How to get prescription drug coverage.
- CMS.gov. 2023 PDP Landscape Source File.
- Medicare.gov. Costs for Medicare drug coverage.
- CMS.gov. CMS releases 2024 projected Medicare Part D premium and bid information.
- CMS.gov. Monthly premium for drug plans.
- CMS.gov. Yearly deductible for drug plans.
- CMS.gov. Annual release of Part D national average monthly bid amount and other part C and D bid information.
Article history
Your email will not be published. All fields are required.