Find a Medicare Part D prescription drug plan for 2027
Medicare Part D
Prescription Drug Coverage 2027
Cheapest Medicare Part D Plan 2027: Low Premiums vs Low Yearly Cost
Reviewed by Russell Noga, Licensed Medicare Insurance Broker (all 50 states) — Last updated November 2, 2026
The cheapest Medicare Part D plan for 2027 has a premium of about $5.30 a month in most states, according to CMS. That low price usually comes with the full $700 deductible, and no standalone drug plan has a $0 premium in 2027 for people without Extra Help, so the plan that costs least over a full year depends on the drugs you take.
2027 by the Numbers
$5.30
lowest standalone Part D premium in most states for 2027 (CMS)
88%
of people without Extra Help can get a basic plan at $10.30 or less (CMS)
0
standalone plans with a $0 premium in 2027 for people without Extra Help (KFF)
323
2027 standalone plan bids nationwide (our count of CMS 2027 plan filings)
Shoppers who type this question usually want one name and one price. The lowest premium in most of the country sits a little above five dollars a month, the cheapest way to hold Part D coverage and avoid the late penalty. Whether that plan is also cheapest once you fill prescriptions is a separate question, and a sharper one for 2027, with a $700 deductible ceiling and no federal premium subsidy.
This page lays out the lowest 2027 premiums CMS reported, our own math on what a bargain plan costs in a full year, and the trade-offs hiding behind a small monthly bill. For the wider set of 2027 rules, start at our Medicare Part D plans 2027 hub.
Key Takeaways
- CMS reported a lowest standalone premium of $5.30 a month in most states for 2027.
- KFF found no $0-premium standalone drug plan for 2027 for anyone without Extra Help, after about 4.1 million people paid nothing in 2026.
- Bargain plans almost always charge the full $700 deductible, so January and February can be costly.
- Extra Help can bring the premium for certain plans to $0 and replace the deductible with small copays.
The Lowest Part D Premiums CMS Reported for 2027
When CMS released its 2027 plan figures on September 28, 2026, it reported that the lowest standalone Part D premium in most states is $5.30 a month. It also reported that 88% of people who do not get Extra Help can find a basic plan priced at $10.30 a month or less. A basic plan is one that offers the standard Part D benefit or its equal, without extras such as a lower deductible.
$5.30
lowest monthly premium in most states (CMS)
$10.30
basic plan price ceiling for 88% of non-subsidy enrollees (CMS)
~$36
CMS projected average standalone premium
$51
KFF projected average if no one switches plans
CMS’s $36 average assumes people move to cheaper plans during open enrollment. KFF’s $51 projection, released October 30, 2026, measures what enrollees would pay if they stayed in the plan they had.
Why There Is No $0 Standalone Plan This Year
In 2026, about 30% of standalone plan members without Extra Help paid no premium. For 2027, KFF found no standalone drug plan priced at $0 for that group. The main cause is the end of the Part D Premium Stabilization Demonstration, which had cut $10 from each participating plan’s monthly premium and limited yearly increases to $50.
Heads up for 2026 $0 members: about 4.1 million people who paid nothing for a standalone plan in 2026 will owe a premium in 2027, whether they stay or switch, according to KFF. The new amount appears in the plan’s Annual Notice of Change.
People with full Extra Help are treated differently. They can still pay a $0 premium in plans that qualify as benchmark plans in their region, depending on the area. Our Extra Help Medicare Part D 2027 guide explains who qualifies.
Our Math: The Real Price Tag on a Bargain Plan
A monthly premium is easy to compare, but your yearly bill also includes the deductible and your share of each prescription. Using the 2027 standard benefit (deductible up to $700, then 25% coinsurance, then $0 after $2,400), we built a simple ceiling for each premium level. The ceiling is the most a person could spend in 2027 on premiums plus covered drugs.
| Monthly premium | Premiums for 12 months | Most you pay for covered drugs | Yearly ceiling |
|---|---|---|---|
| $5.30 (CMS lowest) | $63.60 | $2,400 | $2,463.60 |
| $10.30 (CMS basic benchmark) | $123.60 | $2,400 | $2,523.60 |
| $36 (CMS projected average) | $432.00 | $2,400 | $2,832.00 |
| $51 (KFF stay-put average) | $612.00 | $2,400 | $3,012.00 |
Our calculation from CMS 2027 parameters and the premiums shown. Applies only to drugs on the plan’s formulary filled at network pharmacies. Late penalties and income surcharges are extra.
Premium matters most for people who use few drugs. A person with a $15 monthly generic buys about $180 of drugs a year; on a $5.30 plan that applies the full deductible, the year costs roughly $244. For a heavy user who reaches the cap, the spread between a $5.30 plan and a $51 plan is about $550, all of it premium.
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Where Low-Premium Plans Make Up the Difference
Plans priced near five dollars usually save money through design choices that shift cost to the member or narrow what is covered.
Trade-offs common in the lowest-priced plans
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A deductible at or near the $700 maximum, sometimes applied to every tier, depending on the plan
✔
A smaller formulary, so not all plans cover every drug you may need
✔
Prior authorization or step therapy on more brand-name drugs
✔
Lower prices only at preferred pharmacies, with higher copays elsewhere in the network
✔
Higher coinsurance on preferred brand tiers in place of flat copays
None of these is a reason to skip a cheap plan. They are reasons to enter every drug, with the right dose, before choosing. The deductible piece is explained on our Medicare Part D deductible 2027 page.
Which Companies File the Most 2027 Standalone Plans
Our count of CMS 2027 plan filings shows 323 individual standalone Part D bids across the 34 Part D regions, from 15 sponsors, or roughly 7 to 12 plans per state. Medicare Plan Finder may show slightly different counts.
| Sponsor | 2027 standalone bids | Plan names in our count |
|---|---|---|
| Humana | 102 | Basic Rx, Value Rx, Premier Rx |
| UnitedHealthcare | 73 | Medicare Rx Preferred from UHC, Medicare Rx Saver from UHC |
| Wellcare | 68 | Value Script, Classic |
| HealthSpring | 40 | Assurance Rx, Extra Rx |
| Aetna (SilverScript) | 20 | SilverScript Choice |
| Regional Blue plans | 20 | From 10 Blue companies |
Our count of CMS 2027 plan filings. Availability varies by region, and a plan offered in one state may not be offered in the next.
Market note: KFF reported that Wellcare Value Script Rx has the lowest average premium among the eight national standalone plans for 2027, at about $6.50 a month, up from $5.80. The lowest plan in a given state can belong to a different company.
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Cheapest Premium or Cheapest Year: How to Choose
Lowest-premium plan tends to fit
✔
People who take no drugs or one or two low-cost generics
✔
People holding coverage mainly to avoid the late penalty
✔
People who can absorb a large January pharmacy bill
Higher-premium plan may fit better
✔
People on brand-name drugs every month
✔
People whose drug is missing from the cheaper plan’s formulary
✔
People who want copays to start without a deductible
A quick test: add 12 months of premium to the yearly drug estimate Medicare Plan Finder shows for each plan. The smaller total marks the cheaper plan for you. State-level counts are on the compare Medicare Part D plans by state 2027 page.
Steps to Lock In a Low 2027 Drug Cost
1
List each drug with its dose. Write the strength and how often you take it; dose changes the price a plan charges.
2
Price the lowest-premium plans first. Check whether they cover every drug on your list and which tiers they use.
3
Compare yearly totals, not monthly bills. Premiums plus estimated drug costs give the true ranking.
4
Check pharmacy status. Preferred network pharmacies can lower copays in many plans.
5
Act by December 7, 2026. Plans chosen during open enrollment begin January 1, 2027.
Rule of thumb: a plan that leaves one of your regular drugs off its formulary is rarely the cheapest choice, because uncovered drugs are paid at full price and do not count toward the $2,400 limit.
The Bottom Line
The Bottom Line
The lowest 2027 standalone premium is about $5.30 a month in most states, and no plan is free for people without Extra Help. A bargain premium is the cheapest choice when you take few drugs; once your prescriptions add up, compare yearly totals before 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
➤ What is the cheapest Medicare Part D plan for 2027?
CMS reported that the lowest standalone Part D premium in most states is $5.30 a month for 2027. The specific plan with that price varies by state, so check plans offered in your ZIP code.
➤ Is there a free Part D plan in 2027?
Not for most people. KFF found no $0-premium standalone drug plans for 2027 for enrollees without Extra Help. People with full Extra Help may still pay $0 in certain plans, depending on the area.
➤ Why did my $0 drug plan start charging a premium?
The federal premium subsidy that lowered standalone plan prices in 2025 and 2026 ended after 2026, and plans repriced. Your plan’s Annual Notice of Change lists the new amount.
➤ Does the cheapest plan have a deductible?
Usually yes. Low-premium plans often charge the full $700 deductible allowed for 2027, though some skip it on generic tiers, depending on the plan.
➤ Is a Medicare Advantage plan cheaper than a standalone Part D plan?
CMS projects the drug portion of Medicare Advantage premiums at about $7.00 a month for 2027. Medicare Advantage replaces Original Medicare and uses provider networks, so it is a bigger change than switching drug plans.
➤ What is the most I could spend in 2027 on a low-cost plan?
If all your drugs are covered, your drug costs stop at $2,400. On a $5.30 plan, that puts the yearly ceiling near $2,464 including premiums, before any late penalty or income surcharge.
➤ How many standalone plans can I choose from?
Our count of CMS 2027 plan filings shows 323 standalone bids nationwide, or about 7 to 12 per state. KFF puts the average choice at 9 plans per person.
➤ When can I switch to a cheaper Part D plan?
Open enrollment runs October 15 through December 7, 2026, for coverage starting January 1, 2027. Later changes generally need a special enrollment period.
ZRN Health & Financial Services, LLC, a Texas limited liability company.
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