How to Save on Medicare Part D Plan

How to Save on Medicare Part D Plan

In this video, we’re going to cover how you can save hundreds or even thousands of dollars on your Medicare Part D prescription drug plan and how to use a smart strategy when comparing plans on Medicare.gov.

If you’ve ever felt confused about which plan to choose or wondered why your prescriptions cost so much, this guide and the video below will walk you through everything step by step.

Why Strategy Matters for Medicare Part D Plans

Most people think comparing plans on Medicare.gov is just about entering a few details and picking the cheapest option. But that’s where many make costly mistakes. The real savings come from understanding how plans calculate total yearly costs, including premiums, deductibles, and medication tiers, and using smart comparison techniques to save money on prescriptions.

Watch the Full Video

In the video below, I’ll walk you through the exact steps on screen, showing how to compare plans, spot hidden costs, and apply these savings strategies for yourself.

Step 1: How to Compare Medicare Part D Plans

Go to Medicare.gov and click Find Plans.
Make sure you select the correct year, for example 2026, and enter your ZIP code.

When you’re asked about financial aid options, only check those you actually have, such as Medicaid or Extra Help. Checking boxes you don’t qualify for can give you incorrect pricing results and affect your overall savings.

Step 2: Add Your Medications to Lower Costs

Click Add Your Drugs and begin typing each one into the search box. You can browse and add multiple prescriptions at once.

Here’s your first key strategy to save on your Medicare Part D plan:
Choose a 90-day supply instead of 30 days. A quarterly refill usually saves significant money across the year.

Step 3: Choosing the Right Pharmacy for Medicare Savings

Always select Mail Order Pharmacy when possible. Mail order often provides better pricing and convenience.

Here’s your second key strategy to save on your Medicare Part D plan:
Avoid selecting multiple stores from the same chain such as several CVS or Walgreens locations. You can choose up to five pharmacies, but keep your list focused for accurate comparisons. The pharmacy you choose can make a big difference in how much you save.

Step 4: Compare Medicare Part D Plans the Smart Way

Once you’ve added your medications and pharmacies, check the box labeled Lowest drug plus premium cost.

This ensures the comparison tool shows the true total annual cost, not just the monthly premium.

From here, you can select and compare up to three plans side by side. Review their deductibles, premiums, and total yearly drug costs to find the most affordable Medicare Part D plan for your situation.

Step 5: Find What’s Increasing Your Medicare Costs

If one plan looks surprisingly expensive!, And we might be tempted to pull that plan out of our comparison analysis. Don’t rush to do that just yet, because often what looks like the most expensive plant could turn out to save you the most amount of money!

Here’s your third key strategy to save on your Medicare Part D plan:
Often, a high total cost is caused by one drug that isn’t covered or falls into a high tier. If you remove that medication from your list and re-run your search, you’ll see how much cheaper the total becomes. This is a powerful way to save money on your prescriptions.

Step 6: Use Discount Programs to Save on Medicare Part D

Here’s your forth key strategy to save on your Medicare Part D plan:
If a particular medication isn’t covered or is too expensive, check a discount service such as GoodRx or Mark Cuban’s Cost Plus Drugs.

Always compare the generic version and look at 90-day prices. These services can often drop the cost of a $4,500 medication plan down to a few hundred dollars per year and help you lower your Medicare Part D costs.

Step 7: Recalculate and Confirm Your Savings

Combine your new lower-cost medication from GoodRx or another discount provider with your best Medicare Part D plan, and you’ll see how much you can really save.

In the example shown in the video, the total yearly cost dropped from $4,500 to almost nothing just by removing one expensive drug and using a discount service for it instead.

Final Thoughts on How to Save on Medicare Part D Plan

The Medicare.gov plan finder is one of the best tools available, but it’s only as effective as the strategy you bring to it. By carefully comparing plans, verifying drug coverage, and using discount programs wisely, you can dramatically reduce your annual prescription costs and save on your Medicare Part D plan.

Next Steps

• Visit Medicare.gov to start your own comparison.

• Make a list of your medications and check for generic options.

• Use GoodRx or similar tools for any uncovered prescriptions.

• Revisit your plan every year before open enrollment ends.

these savings strategies for yourself.

Next Steps

• Visit Medicare.gov to start your own comparison.

• Make a list of your medications and check for generic options.

• Use GoodRx or similar tools for any uncovered prescriptions.

• Revisit your plan every year before open enrollment ends.