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Plans 2027
Medicare Part D Plans 2027
Medicare Part D is prescription drug coverage. You get it either as a standalone drug plan alongside Original Medicare, or built into a Medicare Advantage plan. Either way it is sold by private insurers, approved by Medicare, and priced differently in every county.
Plans for 2027 go on sale October 15, 2026, and coverage starts January 1, 2027. Enter your zip code above to compare the plans available in your area, or speak with a licensed insurance agent at 1-866-930-4039, TTY 711, Monday to Friday 8am to 8pm EST.
⚑2027 plan details are not published yet
Every figure on this page marked 2026 is confirmed. Carriers publish 2027 premiums, deductibles and drug formularies on October 1, 2026. Treat anything about 2027 as an expectation until then.
Planning ahead for next year? Our Medicare Part D plans 2027 guide covers the $700 deductible, the $2,400 out-of-pocket cap, and the two price protections ending December 31, 2026.
New to this? Start with our complete guide to Medicare Part D plans — how prescription drug coverage works, the two ways to get it, what it costs, and when you can enroll. For next year specifically, see Medicare Part D plans 2027.
Medicare Part D 2027 Plans & Changes
Three changes from recent years carry into how 2027 plans are built and priced.
1A hard cap on what you can spend
Out-of-pocket drug costs are capped at $2,100 in 2026, up from $2,000 in 2025. Once you reach it, you pay nothing more for covered drugs that year. Before 2025 there was no ceiling at all.
2Negotiated drug prices began
The first Medicare-negotiated prices took effect in 2026 on ten high-cost medications. Covered insulin stays capped at $35 a month and recommended adult vaccines remain free.
3A limit on premium increases, with a catch
A plan cannot raise its premium more than $50 a month year over year for 2026. It does not stop a carrier discontinuing a plan and moving members to a pricier one, which is why the Annual Notice of Change matters.
What are Medicare Part D Prescription Drug Plans?
Original Medicare, Parts A and B, covers hospital and medical care but almost no prescription drugs you take at home. Part D is the piece that fills that gap. It is optional, it is sold by private insurers rather than the government, and every plan must meet a minimum standard of coverage set by Medicare.
There are two ways to get it. A standalone Part D plan pairs with Original Medicare, and with a Medicare Supplement policy if you have one, since supplements never include drug coverage. A Medicare Advantage plan with drug coverage bundles medical and prescription benefits into one plan with one card.
You cannot have both at once. Enrolling in a standalone Part D plan while in a Medicare Advantage plan that already includes drugs will usually disenroll you from the Advantage plan and return you to Original Medicare.
Medicare Part D Prescription Drug Plans 2027
Dozens of plans are available in most counties, and the differences that matter are not on the front of the brochure. Compare in this order.
1Your drugs, not the premium
Enter every medication at your actual dosage. A drug on a higher tier, or one needing prior authorization, can cost more in a year than every premium difference on your shortlist combined.
2Your pharmacy
Most plans have preferred and standard pharmacies, and the same drug costs more at a standard one. Confirm the pharmacy you actually use is preferred before enrolling.
3Total annual cost
Premium times twelve, plus the deductible, plus what your specific drugs cost across the year. A $0 premium plan with a full deductible and your medications on tier 4 is not cheap.
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Medicare Part D Formularies
A formulary is the list of prescription drugs a plan covers, sorted into tiers that decide what you pay. Lower tiers are generics and cost least. Higher tiers are brand name and specialty drugs and cost most. Plans can also require prior authorization or step therapy before covering certain medications.
Formularies reset every January. A drug can move to a higher tier, gain a prior authorization requirement, or come off the list entirely while the plan premium does not change at all. That is the single most common reason a plan that worked last year stops working this year.
Check every medication against the 2027 formulary before you enroll, not just the expensive ones.
Medicare Part D Enrollment
Part D runs on fixed windows. Miss one and you usually wait a year.
Oct 15 – Dec 7, 2026
Annual Enrollment Period
Join, switch or drop a Part D plan. Coverage starts January 1, 2027. Change as often as you like before December 7 — the last one on record counts.
Around your 65th birthday
Initial Enrollment Period
Seven months: the three months before your birthday month, that month, and the three after. This is the window that protects you from the late penalty.
When you qualify
Special Enrollment Periods
Moving out of your plan area, losing employer drug coverage, qualifying for Medicaid or Extra Help, or having your plan discontinued each open a window outside the normal dates.
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Medicare Part D Late-enrollment Penalty
If you go 63 days or more without Part D or other creditable prescription drug coverage after first becoming eligible, Medicare adds a penalty to your monthly premium. It is calculated from how many months you went without, and once applied, you pay it for as long as you have Part D. It does not expire.
⚑Enroll even if you take no medications
The usual version of this mistake is someone healthy at 65 who skips Part D, then needs a prescription at 70 and finds the penalty follows them permanently. A low-premium plan you never use costs far less than a penalty you carry for twenty years.
Medicare Part D Cost
Part D has four moving parts and the premium is the least important. These are the confirmed 2026 figures; 2027 costs publish October 1, 2026.
| Cost | 2026 | 2025 |
|---|---|---|
| ▲Out-of-pocket cap | $2,100 | $2,000 |
| ◆Maximum deductible | $615 | $590 |
| $Average plan premium | $34.50 a month | $38.31 a month |
| ℞Income surcharge (IRMAA) | $14.50 to $91.00 extra | — |
The donut hole is gone. The coverage gap was eliminated as of 2025 and has not returned. Part D now runs in three stages: deductible if your plan has one, then copays or coinsurance, then the out-of-pocket cap, after which you pay nothing more for covered drugs that year.
✓You can spread the cost across the year
Since 2025 the Medicare Prescription Payment Plan lets you pay out-of-pocket drug costs in equal monthly installments rather than all at once at the counter. It does not reduce what you owe, but it stops a January refill landing as one large bill. Ask your plan how to opt in.
Medicare Part D Plans 2027 — Frequently Asked Questions
➤ When can I enroll in a Medicare Part D plan for 2027?
The Annual Enrollment Period runs October 15 through December 7, 2026, and coverage starts January 1, 2027. Carriers publish their 2027 plan details, including premiums, deductibles and formularies, on October 1, 2026. People new to Medicare have a seven-month Initial Enrollment Period around their 65th birthday.
➤ How much does Medicare Part D cost?
In 2026 the average Part D plan premium is $34.50 a month, the maximum deductible any plan can charge is $615, and out-of-pocket costs are capped at $2,100 for the year. Higher earners pay an income surcharge of $14.50 to $91.00 a month on top. Costs vary by county and by which drugs you take. The 2027 figures are not published yet.
➤ Is the Medicare Part D donut hole gone?
Yes. The coverage gap was eliminated as of 2025 and has not returned. Part D now has three stages: the deductible if your plan charges one, then copays or coinsurance, then the annual out-of-pocket cap. Once you reach the cap, $2,100 in 2026, you pay nothing more for covered drugs that year.
➤ What is the Medicare Part D late enrollment penalty?
If you go 63 days or more without Part D or other creditable drug coverage after first becoming eligible, Medicare adds a penalty to your monthly premium. It is based on how many months you went without, and it is permanent for as long as you have Part D. This is why it is worth enrolling in a low-cost plan at 65 even if you take no medications.
➤ What is a Part D formulary?
A formulary is the list of drugs a plan covers, organized into tiers that determine what you pay. Lower tiers are generics and cost least; higher tiers are brand name and specialty drugs and cost most. Plans can also require prior authorization or step therapy. Formularies change every January, so a plan that suited you this year may not next year.
➤ Can I have Part D and a Medicare Advantage plan?
Not as two separate plans. Most Medicare Advantage plans already include drug coverage, and enrolling in a standalone Part D plan while in one will usually disenroll you from the Advantage plan and return you to Original Medicare. If you have Original Medicare, with or without a supplement, a standalone Part D plan is the right route.
➤ Can I spread my Part D drug costs across the year?
Yes. The Medicare Prescription Payment Plan, available since 2025, lets you pay out-of-pocket drug costs in equal monthly installments over the year instead of in full at the pharmacy. It does not lower what you owe, but it prevents a large bill landing in one month. Contact your plan to opt in.
➤ What happens if I do nothing before December 7?
Your current plan rolls into its 2027 version automatically, at the 2027 premium with the 2027 formulary and pharmacy network. Your plan mails an Annual Notice of Change by late September listing what is different. Since formularies reset every January, doing nothing means accepting changes you have not seen.
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