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Medicare Part D

The part of Medicare that helps cover the cost of prescription drugs for eligible individuals.

Cost-sharing

The portion of healthcare costs that a patient is responsible for paying, such as deductibles, co-payments, or co-insurance.

Deductible

The amount of money a person must pay out-of-pocket for healthcare services before their insurance plan starts to pay.

Co-insurance

A percentage of the cost of a healthcare service that a patient is responsible for paying after they've met their deductible.

Step therapy

An insurance requirement that a patient try one or more less expensive or preferred drugs before their plan will cover a more expensive or non-preferred drug prescribed by their doctor.

Prior authorization

A requirement by an insurance plan that a patient or their doctor get approval from the plan before certain drugs or services will be covered.

Therapeutically equivalent

Drugs that are considered by the FDA to be chemically identical, having the same active ingredients, dosage form, strength, and route of administration, and that are expected to have the same clinical effect and safety profile.