2027 Medicare Part D costs
In 2027 the most anyone with Medicare drug coverage pays for covered prescriptions is $2,400, up $300 from 2026. The highest deductible a plan can charge rises to $700, and lower negotiated prices start for 15 drugs.
- Most you pay for covered drugs$2,400/yrThe out-of-pocket cap2026: $2,100
- Highest deductible a plan can charge$7002026: $615
- Your share after the deductible25%Under the standard benefit
- Open enrollment for 2027 plansOct 15 to Dec 7Changes take effect Jan 1, 2027
How the 2027 drug benefit works
Under the standard Part D benefit, your costs go through three stages in a calendar year:
- Deductible: you pay the full cost of covered drugs until you have paid the deductible, at most$700. Many plans have a lower deductible or none.
- Initial coverage: you pay 25% of the cost and the plan pays the rest.
- Catastrophic coverage: once your payments reach $2,400, you pay nothing more for covered drugs for the rest of the year.
Under the standard benefit you reach the cap when the total cost of your covered drugs, what you and the plan pay together, reaches about $7,500 for the year.
| Item | 2026 | 2027 | Change |
|---|---|---|---|
| Out-of-pocket capWas $2,000 in 2025, the first year of the cap | $2,100 | $2,400 | +$300 (14.3%) |
| Maximum deductible | $615 | $700 | +$85 (13.8%) |
| Coinsurance after the deductible | 25% | 25% |
If big costs early in the year are hard to cover, the Medicare Prescription Payment Plan lets you pay your drug costs in monthly bills spread across the year instead of all at the pharmacy. You sign up through your drug plan.
What else changes for 2027
- Premium help ends. A federal demonstration that lowered stand-alone Part D premiums in 2025 and 2026 ends after 2026, so some stand-alone plans may cost more in 2027.
- Fewer stand-alone plans. The average number of stand-alone drug plans available fell from about 30 five years ago to 11 in 2026. Check that your plan is still offered and still covers your drugs.
- Negotiated prices for 15 more drugs take effect, listed below.
| Drug | Used for | 2024 list price | 2027 negotiated |
|---|---|---|---|
| Ozempic, Rybelsus, Wegovy | Type 2 diabetes, heart disease, obesity | $959 | $27471% lower |
| Trelegy Ellipta | Asthma, COPD | $654 | $17573% lower |
| Xtandi | Prostate cancer | $13,480 | $7,00448% lower |
| Pomalyst | Kaposi sarcoma, multiple myeloma | $21,744 | $8,65060% lower |
| Ofev | Idiopathic pulmonary fibrosis | $12,622 | $6,35050% lower |
| Ibrance | Breast cancer | $15,741 | $7,87150% lower |
| Linzess | Chronic constipation, IBS with constipation | $539 | $13675% lower |
| Calquence | Chronic lymphocytic leukemia, mantle cell lymphoma | $14,228 | $8,60040% lower |
| Austedo, Austedo XR | Huntington’s chorea, tardive dyskinesia | $6,623 | $4,09338% lower |
| Breo Ellipta | Asthma, COPD | $397 | $6783% lower |
| Xifaxan | Hepatic encephalopathy, IBS with diarrhea | $2,696 | $1,00063% lower |
| Vraylar | Bipolar I, depression, schizophrenia | $1,376 | $77044% lower |
| Tradjenta | Type 2 diabetes | $488 | $7884% lower |
| Janumet, Janumet XR | Type 2 diabetes | $526 | $8085% lower |
| Otezla, Otezla XR | Psoriasis, psoriatic arthritis, Behçet’s oral ulcers | $4,722 | $1,65065% lower |
Still to come: Part B
Medicare hasn’t announced the 2027 Part B premium or the Part A and Part B deductibles yet. They usually come out in late October or early November. If your Part B premium comes out of your Social Security check, the new amount will show on your COLA notice. See 2027 Social Security changes.
Common questions
What is the Medicare Part D out-of-pocket maximum for 2027?
$2,400 for the year, up from $2,100 in 2026. Once what you pay for covered drugs reaches it, you pay nothing more for covered Part D drugs until the next calendar year.
Do Part D premiums count toward the $2,400 cap?
No. Only what you pay for covered drugs counts: the deductible, copays and coinsurance. Premiums are separate, and so are drugs your plan doesn’t cover.
When can I change my Part D plan for 2027?
During open enrollment, from Oct 15, 2026 to Dec 7, 2026. A new plan starts January 1, 2027. Check your plan’s Annual Notice of Change for its 2027 premium, deductible and drug list.
Will Ozempic cost less on Medicare in 2027?
The Medicare-negotiated price for Ozempic, Rybelsus and Wegovy is $274 for a 30-day supply in 2027, down from a 2024 list price of $959. What you pay depends on your plan’s copay or coinsurance, and coverage of Wegovy depends on the condition it is prescribed for.
When will Medicare announce the 2027 Part B premium?
Medicare usually announces the Part B premium and the Part A and B deductibles in late October or early November. We will add them here on the day they are released.
Sources
- 8 changes coming to Medicare in 2027, Kiplinger, Sep 3, 2026
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