Find a Medicare Part D prescription drug plan for 2027
Medicare Part D
Prescription Drug Coverage 2027
Medicare Part D Plans 2027 Guide: A Step-by-Step Decision Workbook
Reviewed by Russell Noga, Licensed Medicare Insurance Broker (all 50 states) — Last updated October 31, 2026
This Medicare Part D plans 2027 guide turns the new CMS numbers into worksheets you can fill in: pick your drug cost profile, test whether a no-deductible plan is worth its premium, score each plan, and mark the dates that matter. Under the 2027 standard design, the most a $0 deductible can save you is $525 for the year, and it saves nothing if you reach the $2,400 cap.
2027 by the Numbers
$700
maximum 2027 Part D deductible (CMS)
$2,400
2027 cap on covered drug costs, then $0 (CMS)
$525
most a $0 deductible can save in 2027 under 25% coinsurance (our math)
323
standalone drug plans filed for 2027 (our count of CMS 2027 plan filings)
Most Part D explainers tell you what the program is. This one assumes you already know the basics and want to make a decision. Each section is a worksheet built from the 2027 figures CMS has published, with the math worked out so you can swap in your own numbers.
Plans can and do vary from the standard design used here, so treat these totals as a yardstick, not a quote. For the 2027 rules in full, see our Medicare Part D plans 2027 hub, and for what premiums are doing this year, see Medicare Part D premium 2027.
Key Takeaways
- Sort yourself into a cost profile first: low drug spending, steady brand-name spending, or spending that reaches the $2,400 cap.
- If your drugs cost about $30 a month at full price, the premium can be the biggest part of your yearly bill.
- By our math, a $0 deductible is worth at most $525 in 2027, or $43.75 a month in extra premium, under 25% coinsurance.
- If you will reach the $2,400 cap, the deductible does not change your yearly drug spending, so formulary coverage and premium decide.
- Mark December 7, 2026, as the last day to pick a standalone plan for January 1, 2027.
How to Use This 2027 Workbook
Work through the sheets in order. The first two tell you which kind of plan to look for; the last three help you choose between real plans in your ZIP code. Our count of CMS 2027 filings shows 323 standalone plans nationwide and usually 7 to 12 per state.
1
Gather your papers Use the checklist in the next section.
2
Find your profile Match your full-price drug spending to one of three yearly patterns.
3
Run the deductible test See whether paying more each month to skip the deductible makes sense for you.
4
Score the finalists Rate two or three plans on formulary, pharmacy and rules.
5
Put the dates on your calendar Open enrollment ends December 7, 2026.
Gather These Before You Compare
Your 2027 shopping folder
✔
Every prescription with its name, strength, and how many pills or doses you use a month
✔
The full price of each drug, from a recent receipt or your plan’s explanation of benefits
✔
The names of one or two pharmacies you are willing to use, plus whether you would use mail order
✔
Your current plan’s 2027 Annual Notice of Change, if you already have Part D
✔
Your Medicare card, and any letter showing past drug coverage from an employer or union
Why full price matters: The deductible and the 25% coinsurance are figured on the drug’s negotiated price, not your old copay. A $10 copay last year may hide a drug that costs several hundred dollars a month.
Worksheet 1: Find Your 2027 Drug Cost Profile
Add up what your drugs cost at full price for twelve months. Then find your row. Each total uses the 2027 standard design: you pay the full price up to the $700 deductible, then 25% until your share reaches $2,400, then $0. Premiums are extra.
| Profile | Full-price drug cost per year | Your 2027 drug spending (standard design) | What drives your total |
|---|---|---|---|
| A: Generics only | $360 ($30 a month) | $360, all inside the deductible | The premium |
| B: One steady brand drug | $7,200 ($600 a month) | $700 + 25% of $6,500 = $2,325 | Tier and copay for that one drug |
| C: High-cost specialty drug | $72,000 ($6,000 a month) | Capped at $2,400 | Whether the drug is covered at all, then premium |
Our math from the CMS 2027 Part D parameters. Many plans charge flat copays on generic tiers or skip the deductible for some tiers, so your plan may cost less than the standard design.
The break point is $7,500 a year in full-price drug costs. Spend more than that and you reach the $2,400 cap; spend less and you pay a share of every fill all year. Our Part D coverage phases 2027 page explains each phase.
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Worksheet 2: When the Money Leaves Your Pocket
Yearly totals hide timing. The deductible lands in the first months of the year, which can be a shock for someone on a brand-name drug. This sheet tracks running totals for profiles B and C under the standard design.
| Running total paid by | Profile B ($600 a month) | Profile C ($6,000 a month) |
|---|---|---|
| End of January | $600 | $2,025 |
| End of February | $825 | $2,400 (cap reached) |
| End of June | $1,425 | $2,400 |
| End of December | $2,325 | $2,400 |
Our math: Profile B pays $600 in January, $225 in February as the deductible ends, then $150 a month. Profile C pays $700 plus 25% of $5,300 in January and the last $375 in February.
If early-year bills like these would strain your budget, the Medicare Prescription Payment Plan can spread them over monthly bills. Our Part D out-of-pocket maximum 2027 page covers what counts toward the cap.
Worksheet 3: Is a $0 Deductible Worth a Higher Premium?
Plans that skip the deductible often charge more each month. Here is the ceiling on what skipping it can save. With a $700 deductible, you pay the first $700 of drug costs yourself. Without one, at 25% coinsurance you would pay $175 of that same $700. The most you can save is the difference: $525 for the year.
A $0 deductible can pay off when
✔
Your full-price drug costs are $700 or more a year
✔
You will not reach the $2,400 cap
✔
The extra premium is under $43.75 a month ($525 / 12)
It is likely not worth it when
✔
You will reach the $2,400 cap either way
✔
Your drugs are cheap generics with flat copays
✔
The extra premium is $43.75 a month or more
The cap changes the math: Profile C reaches $2,400 in both plans, so the deductible saves nothing over the year. For anyone in that group, the deciding questions are whether the drug is covered and what the premium is.
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Worksheet 4: Score Plans on What the Math Misses
Two plans can post the same yearly total and still feel very different to use. Give each finalist a point for every yes. Check each plan’s 2027 formulary and pharmacy directory, because not all plans cover every drug.
| Question | Plan 1 | Plan 2 | Plan 3 |
|---|---|---|---|
| Are all of my drugs on the 2027 formulary? | Yes / No | Yes / No | Yes / No |
| Are they free of prior authorization and step therapy? | Yes / No | Yes / No | Yes / No |
| Is my pharmacy preferred, not just in network? | Yes / No | Yes / No | Yes / No |
| Does a 90-day or mail-order fill cost less? | Yes / No | Yes / No | Yes / No |
| Is the contract rated 4 stars or higher for 2027? | Yes / No | Yes / No | Yes / No |
A blank scorecard. A no on the first question usually rules a plan out unless an exception is approved.
Our Medicare Part D formulary 2027 guide explains tiers and how to request an exception.
Your 2027 Plan-Year Calendar
| Date | What happens | Your task |
|---|---|---|
| October 15, 2026 | Open enrollment begins | Run Worksheets 1 to 4 on your finalists |
| December 7, 2026 | Open enrollment ends | Last day to choose a standalone plan for January |
| January 1, 2027 | New coverage, deductible and cap start | Fill one prescription early to confirm the plan works |
| January 1 to March 31, 2027 | Medicare Advantage open enrollment | Medicare Advantage members can make one change, including a move to Original Medicare with a drug plan |
| By September 30, 2027 | Plans mail notices of 2028 changes | Read yours and start this workbook again |
Moves, loss of other coverage and some other events can open a special enrollment period at other times.
New to Medicare? Your first chance to join is your Initial Enrollment Period around your 65th birthday. Our how to enroll in Medicare Part D 2027 page walks through it.
The Bottom Line
The Bottom Line
Start with your profile, because it tells you what to shop on: premium for low spenders, the tier of one drug for steady brand users, and coverage plus premium for anyone who will hit the $2,400 cap. Then score real plans in your ZIP code and decide by December 7, 2026.
We do not offer every plan available in your area. Any information we provide is limited to those plans we do offer in your area. Please contact Medicare.gov or 1-800-MEDICARE (TTY 1-877-486-2048) to get information on all of your options.
Frequently Asked Questions
➤ How do I know which 2027 drug cost profile I fit?
Add up the full price of your drugs for twelve months. Under about $700 you are in the low group, between $700 and $7,500 you pay a share all year, and above $7,500 you will likely reach the $2,400 cap.
➤ How much full-price drug spending does it take to reach the 2027 cap?
Under the standard design, $7,500 in full-price drug costs gets you there: $700 for the deductible plus 25% of $6,800, which is $1,700. Plans with flat copays may get there at a different point.
➤ Is a no-deductible Part D plan worth paying more for in 2027?
By our math, skipping a $700 deductible saves at most $525 under 25% coinsurance. If the extra premium is more than $43.75 a month, or you will reach the cap anyway, it likely is not worth it.
➤ Why does my January drug bill look so high?
The deductible resets on January 1, so in many plans you pay full price for covered drugs until you have paid up to $700. After that, your share drops.
➤ Should I pick the lowest-premium plan if I take only generics?
Often, as long as it covers your drugs at a pharmacy you use. When your drug costs are small, the premium can make up most of your yearly cost.
➤ What papers do I need to use this workbook?
A list of your drugs with strengths and amounts, their full prices, your pharmacy choices, and your current plan’s 2027 Annual Notice of Change if you have one.
➤ Does this workbook work for Medicare Advantage drug coverage?
The 2027 deductible limit and $2,400 cap also apply to Medicare Advantage plans with drug coverage, so the profiles still help. Add the plan’s medical costs and network to your comparison.
➤ When should I redo this workbook?
Every fall when your plan’s notice of changes for the next year arrives, and any time you start a costly new drug, since one prescription can move you to a different profile.
ZRN Health & Financial Services, LLC, a Texas limited liability company.
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