How to Look Up Drug Prices on Medicare.gov

Medicare.gov has a free plan finder tool that lets you compare prescription drug costs across all Medicare Part D plans available in your area. This tool can save you hundreds or thousands of dollars per year — but most people don't know it exists or how to use it.

Part D is Medicare's prescription drug coverage. It's offered through private insurance companies that have contracted with Medicare. The plans vary significantly in what they cost and which drugs they cover. Two plans might charge very different amounts for the same medication.

The Medicare Plan Finder at medicare.gov/plan-compare lets you enter your specific medications and find which Part D plan covers them at the lowest total cost for you. It factors in monthly premiums (what you pay every month regardless of use), deductibles (what you pay before coverage kicks in), and copays (what you pay per prescription).

You can use this tool even if you're already enrolled in Part D — comparing annually is smart because drug prices and plan formularies (lists of covered drugs) change every year. Open enrollment for Medicare Part D runs from October 15 to December 7 each year.

To use the tool effectively, you'll need a list of your current medications (exact names and dosages) and your zip code. You can use the tool without logging in, but logging in with your Medicare.gov account shows your specific plan details and Medicare Summary Notice.

Pharmacies matter too — the tool asks which pharmacy you use. The same plan might have different costs depending on whether you use a retail pharmacy or mail order, and whether your pharmacy is "preferred" in the plan's network.