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Medicare Part D
Prescription Drug Coverage 2027
Does Medicare Part D Cover Eliquis in 2027? Price, Yearly Cost and Plan Rules
Reviewed by Russell Noga, Licensed Medicare Insurance Broker (all 50 states) — Last updated November 1, 2026
Yes, Medicare Part D plans can cover Eliquis in 2027, though tier, copay and approval rules depend on the plan and area. Its Medicare-negotiated price of $231 for a 30-day supply stays in place for 2027, so what changes your bill is mostly the new $700 deductible and $2,400 cap.
2027 by the Numbers
$231
Medicare-negotiated price for a 30-day Eliquis supply, in effect since Jan 1, 2026 (CMS)
$521
2023 list price for the same supply, before negotiation (CMS)
$1,218
Eliquis-only yearly cost under the 2027 standard benefit (our math from CMS 2027 parameters)
Eliquis (apixaban) is a blood thinner taken twice a day to lower the risk of stroke in people with atrial fibrillation and to treat or prevent blood clots in the legs and lungs. Because so many people on Medicare take it, Eliquis was one of the first 10 drugs picked for Medicare price negotiation, and its lower price has applied since January 2026.
For 2027, the drug is not new to the program, but the benefit around it is. The deductible rises to $700 and the yearly cap rises to $2,400. This page works through what that means in dollars, month by month, and how the drug fits into the wider Medicare Part D plans 2027 picture.
Key Takeaways
- Eliquis can be covered by standalone Part D plans and by Medicare Advantage plans with drug coverage.
- The $231 negotiated price that began in 2026 carries into 2027; it is the price plans pay, not your copay.
- Using the 2027 standard benefit, Eliquis alone costs about $1,218 for the year, roughly $64 more than the same math gave for 2026.
- A generic version is not expected in the U.S. before 2028 after court rulings upheld the patents.
- Spreading a steady Eliquis bill through the Prescription Payment Plan can push most of the payments into late 2027.
Where Eliquis Sits on a 2027 Drug List
Part D plans build their own formularies, so the tier for Eliquis can differ from one plan to the next. As a brand anticoagulant with a negotiated price, it is commonly placed on a preferred brand tier, though a plan may put it elsewhere depending on the plan and area.
Formulary flags to look for next to Eliquis
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Tier number and whether that tier uses a flat copay or coinsurance
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QL (quantity limit), usually tied to the twice-daily dose
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PA (prior authorization), which is less common for Eliquis but possible
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Whether a 90-day mail-order supply has a lower cost share
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Whether the 5 mg and 2.5 mg strengths are listed the same way
Our Medicare Part D formulary 2027 guide explains tiers and how to request an exception.
Month by Month: Eliquis Under the 2027 Standard Benefit
The table below is our own calculation, assuming a plan that follows the CMS 2027 standard design: you pay the full negotiated price until the $700 deductible is met, then 25% coinsurance. Premiums are not included.
| Month | What you pay | Why |
|---|---|---|
| January | $231.00 | Full price counts toward the $700 deductible |
| February | $231.00 | Still in the deductible ($462 met) |
| March | $231.00 | Deductible now $693 met |
| April | $63.00 | Last $7 of the deductible, then 25% of the rest |
| May to December | $57.75 each month | 25% of $231 |
| Full year | About $1,218 | Well under the $2,400 cap |
Illustrative math from CMS 2027 parameters using the $231 negotiated price. Plans that use a tier copay, a lower deductible or no deductible on brands will produce different numbers.
Reading the table: About 57% of the yearly Eliquis cost in this example lands in the first three months. After April, the monthly charge drops to under $60 for the rest of 2027.
2026 Versus 2027 for the Same Prescription
2026 standard benefit
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$615 deductible
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$2,100 cap
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Eliquis-only yearly cost in our math: about $1,154
2027 standard benefit
✔
$700 deductible
✔
$2,400 cap
✔
Eliquis-only yearly cost in our math: about $1,218
The negotiated price did not drop again for 2027, so a person taking only Eliquis may see a slightly higher yearly total, driven by the $85 jump in the deductible. The difference in our example is $63.75. Plan premiums for 2027 can move the total much more than that, so premiums deserve as much attention as the drug price.
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When Eliquis Is Paired With Other Brand Drugs
| Drug list (30-day prices) | Monthly drug cost | 2027 yearly cost in our math | Cap reached? |
|---|---|---|---|
| Eliquis only ($231) | $231 | About $1,218 | No |
| Eliquis + Entresto ($231 + $295, both negotiated) | $526 | About $2,103 | No, about $300 short |
| Eliquis + a $900-a-month specialty drug | $1,131 | $2,400 | Yes, in the fourth month |
Our illustrative math. The Entresto figure is its CMS-negotiated price; the $900 drug is a hypothetical example.
Once you reach the cap, covered Part D drugs cost $0 for the rest of the year. Our Part D coverage phases 2027 page walks through each stage.
The Payment Plan Math for a Steady Eliquis Bill
The Medicare Prescription Payment Plan lets you pay your pharmacy costs to the plan in monthly installments instead of at the counter. The formula divides what you owe by the months left in the year, so a steady prescription produces bills that climb as the year goes on.
$19.25
January payment if you join in January (our math)
$85.82
June payment
$227.31
December payment
Worth knowing before signing up: With Eliquis alone, the payment plan does not lower the $1,218 total, and it moves the largest bills to the end of the year. It tends to help more when one or two very high fills would otherwise hit at once.
Details on joining and leaving are on our Medicare Prescription Payment Plan 2027 page.
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Generic Apixaban and the Road After 2027
1
Patents upheld. Federal courts sided with the makers, Bristol Myers Squibb and Pfizer, keeping generic apixaban off U.S. shelves for now.
2
Generic timing. Generic entry is not expected before 2028, based on those rulings and related settlements. Dates can shift.
3
Negotiated price meanwhile. Through 2027, the CMS price is the main source of savings on Eliquis for Part D members.
4
After a generic arrives. Plans may move brand Eliquis to a different tier or favor the generic once one is sold, depending on the plan.
How negotiated prices are set and which drugs come next is covered on our Medicare negotiated drug prices 2027 page.
Checking a 2027 Plan Before December 7
A short review list for Eliquis users
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Confirm Eliquis is on the plan’s 2027 formulary, since not all plans cover every drug
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Note whether brand drugs are subject to the full $700 deductible
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Compare preferred and standard pharmacy pricing in your area
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Add every other prescription to see if the $2,400 cap comes into play
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Check whether you qualify for Extra Help, which can lower brand copays sharply
Annual Enrollment runs October 15 to December 7, 2026, for coverage starting January 1, 2027. Income limits and copay levels are on our Extra Help Medicare Part D 2027 page.
The Bottom Line
The Bottom Line
Eliquis remains coverable under Part D in 2027 at its $231 negotiated price. For a person taking only Eliquis, our math puts the standard-benefit year at about $1,218, a little higher than 2026 because of the larger deductible. Plan design, tier and pharmacy choice will decide the real number, so check each 2027 plan with your full drug list.
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
➤ Is the Eliquis negotiated price lower in 2027 than in 2026?
No new cut was announced for 2027. The $231 price for a 30-day supply that started January 1, 2026, continues to apply. Program rules allow CMS to adjust negotiated prices over time.
➤ Why might my Eliquis cost a bit more in 2027?
The standard deductible rises from $615 to $700. If your plan uses that deductible on brand drugs, more of your early-year fills are paid at the full price before coinsurance starts.
➤ Will taking Eliquis alone hit the $2,400 limit?
Not in our standard-benefit example, which totals about $1,218. Adding other brand drugs, especially a specialty drug, can push the total to the cap.
➤ Does Medicare Advantage cover Eliquis too?
Medicare Advantage plans that include drug coverage follow the same Part D rules, including the negotiated price and the $2,400 cap. Tiers and copays vary by plan.
➤ Is there a generic Eliquis I can switch to in 2027?
Generic apixaban is not expected in U.S. pharmacies before 2028 because of patent rulings. Timing could change, so ask your pharmacist.
➤ Can I pay for Eliquis in monthly installments?
Yes, through the Medicare Prescription Payment Plan. For a steady Eliquis bill, the installments start small and grow toward the end of the year, and the total does not change.
➤ Does the 2.5 mg dose cost less than the 5 mg dose?
Eliquis is generally priced per tablet across strengths, so the two doses often cost about the same for a month. Check your plan’s 2027 drug pricing to be sure.
➤ Does Extra Help apply to Eliquis?
Yes. If you qualify, Extra Help sets low fixed copays for covered brand drugs like Eliquis and removes the deductible.
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