Prescription Drug Coverage. Deductible. Washington State Office of the Insurance Commissioner Statewide Health Insurance Benefits Advisors (SHIBA) Medicare Part D plans have different coverage phases throughout the year. PhaseInitial Coverage. What's New? Limits on Drugs Costs. Your deductible resets at the beginning of each calendar year. All Rights Reserved. Premium. For each prescription, you will have a co-pay or pay a portion (co-insurance) of the cost of your medicine, depending on your pl