Medigap policies do not cover medications. Part D plans provide consumers with protection against very high drug costs.
Essentially, all Part D plans provide the consumer with about a 25-30% discount on the first $2900 of medications during the year. Above that, the plans provide a 52.5% discount on most covered brand name drugs. In the event of medications costing more than $4700 over the course of the year, the plans cover 95% or more of the medications.
Medigap does not cover outpatient prescription drugs. That is why you need a Medicare Part D prescription drug plan. If you are admitted into the hospital Part A of Medicare will cover the medications you receive while in the hospital. If you don't enroll in a Part D prescription drug plan you will have to pay the full retail cost for all of your prescription medications.
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Essentially, all Part D plans provide the consumer with about a 25-30% discount on the first $2900 of medications during the year. Above that, the plans provide a 52.5% discount on most covered brand name drugs. In the event of medications costing more than $4700 over the course of the year, the plans cover 95% or more of the medications.