Medicare Part D 2027 Stand-Alone Plan Premiums Projected to Rise 50 Percent

How Much Medicare Part D 2027 Premiums Rise

KFF projects the average monthly premium for stand-alone prescription drug plans (PDPs) will rise to $51 in 2027, up 50 percent from $34 in 2026. The projection assumes current enrollees do not switch plans.

The arithmetic on KFF's two averages works out as follows:

• $34 a month in 2026 equals $408 a year.
• $51 a month in 2027 equals $612 a year.
• The gap between the two averages is $17 a month, or $204 a year.

KFF says more than 4 million people enrolled in zero-premium PDPs will face higher premiums, because no zero-premium PDPs are available in 2027. For Medicare Advantage plans with drug coverage (MA-PDs), KFF projects an average of $9 a month in 2027, an increase of less than $2.

The $51 figure is an average projection, so a given enrollee may pay more or less. Medicare.gov says Part D premiums vary by plan and may be higher depending on income. Medicare.gov does not list premiums by state or for any individual on the page cited here.

No Zero-Premium Stand-Alone Plans in 2027

KFF reports that no zero-premium stand-alone drug plans are available in 2027. KFF's release does not say why plans raised premiums.

The Centers for Medicare & Medicaid Services (CMS) addressed a change to stand-alone plans in a fact sheet dated July 28, 2026. CMS said it will discontinue the voluntary premium stabilization demonstration for stand-alone plans, which began in 2025, at the end of 2026. CMS said plan sponsors had enough experience under the redesigned benefit, so the program returns to traditional market conditions in 2027.

CMS does not present the end of the demonstration in the fact sheet as the reason zero-premium plans are absent, and KFF does not offer it as an explanation either.

The same CMS fact sheet sets the 2027 national average monthly bid amount at $296.05 and the base beneficiary premium at $41.33. Under the Inflation Reduction Act's premium stabilization provision, the base premium can rise no more than 6 percent per year. Medicare.gov lists the 2026 base beneficiary premium as $38.99, and $38.99 times 1.06 equals $41.33, so by arithmetic the 2027 figure rose by the full 6 percent allowed.

What the Lowest- and Highest-Premium National Plans Cost

KFF counts eight national PDPs for 2027, with projected average premiums ranging from about $6 to $204 a month. The lowest is Centene's Wellcare Value Script Rx at $6.50, up from $5.80. The highest is United's AARP Medicare Rx Preferred at $204.50, up from $126.00.

By arithmetic, the Wellcare plan rises $0.70 a month and the AARP plan rises $78.50 a month.

These are average premiums for national plans, and premiums vary by plan. The table covers premiums only, so it does not show what either plan charges as a deductible or for a specific drug. Plans can be compared in Medicare Plan Finder, the Medicare.gov tool for finding and comparing plans.

Deductibles and Cost Sharing in Medicare Part D 2027

KFF reports the maximum Part D deductible allowed in 2027 is $700, up from $615 in 2026, and plans may charge less. Medicare.gov lists the same $700 ceiling and notes that some plans have no deductible.

Average deductibles and the share of enrollees facing one also rise, according to KFF:

• PDP enrollees: $643 on average, up from $540.
• MA-PD enrollees: $489 on average, up from $360.
• 99.8 percent of PDP enrollees face a deductible if they keep their plans, up from 96 percent.
• 85 percent of MA-PD enrollees face a deductible if they keep their plans, up from 80 percent.

After the deductible, Medicare.gov says enrollees pay 25 percent coinsurance until out-of-pocket spending reaches $2,100 in 2026 or $2,400 in 2027. Once spending reaches that limit, enrollees pay nothing for covered Part D drugs for the rest of the calendar year. The 2027 limit is $300 higher than the 2026 limit, by arithmetic.

KFF says most enrollees will pay coinsurance rather than copayments for preferred and non-preferred drugs, which can make out-of-pocket costs less predictable. Medicare.gov defines a copayment as a fixed dollar amount per prescription and coinsurance as a percentage of the drug cost. A 25 percent coinsurance charge moves with the price of the drug, while a copayment stays the same.

How to Compare and Switch Before December 7

Open enrollment runs through December 7, according to KFF, and KFF says relatively low-premium PDP options exist. Medicare Plan Finder at medicare.gov/plan-compare is the Medicare.gov tool for finding and comparing plans.

A premium is only part of a plan's yearly cost, because the deductible and coinsurance are added to it. A plan with a lower premium may carry a deductible as high as $700 plus 25 percent coinsurance. A plan with a higher premium may charge a smaller deductible or none.

These four items cover the main 2027 drug costs that KFF and Medicare.gov list:

1. The 2027 monthly premium, multiplied by 12 for the annual premium.
2. The deductible, which can be anywhere from $0 to $700.
3. Whether drugs carry coinsurance or copayments after the deductible.
4. The $2,400 out-of-pocket limit, after which covered drugs cost $0 for the rest of 2027.

Twelve times the monthly premium plus the deductible is the least a plan costs in a year when the full deductible is paid. Coinsurance on each prescription then adds to that total until out-of-pocket spending reaches $2,400.

No source cited publishes any individual's 2027 premium, so each plan's own figures are the numbers to compare.

Who Pays Less with Extra Help

Extra Help is a Medicare program for people with limited income and resources, according to Medicare.gov's Extra Help page. KFF notes that the 2027 premium increases affect most PDP enrollees who do not receive the extra subsidies provided to low-income enrollees.

Medicare.gov lists these 2026 limits:

• Individual: income of $23,940 and resources of $18,090.
• Married couple: income of $32,460 and resources of $36,100.

Medicare.gov says these limits may rise each year, and Alaska and Hawaii have separate limits that the page does not list. Extra Help is not available in Puerto Rico, the U.S. Virgin Islands, Guam, the Northern Mariana Islands or American Samoa.

Some people qualify automatically: those with full-benefit Medicaid, those getting state help with Part B premiums through a Medicare Savings Program, and those receiving Supplemental Security Income (SSI). Medicare.gov says people can apply for Extra Help and a Medicare Savings Program together. The Medicare Savings Programs guide covers that second program.

For 2027, Medicare.gov's Extra Help page describes these costs:

• Plan premium: $0.
• Plan deductible: $0.
• Up to $5.80 per generic drug and up to $14.40 per brand-name drug at participating pharmacies.
• $0 per covered drug once total drug costs reach $2,400.

Medicare.gov says applications go through Social Security online, and free help is available from the State Health Insurance Assistance Program (SHIP). Someone who does not qualify now can reapply at any time. If an approved applicant has no Part D plan, Medicare enrolls that person in one.

Medicare Advantage Plans with Drug Coverage

KFF projects MA-PD premiums will average $9 a month in 2027, up less than $2, and says the stand-alone PDP premium is more than five times higher. That comparison covers average premiums only.

MA-PD enrollees face deductibles too. KFF puts the average MA-PD deductible at $489 in 2027, and 85 percent of MA-PD enrollees face one if they keep their plans.

Choosing Medicare Advantage is a different decision from choosing a stand-alone drug plan. The Medicare vs. Medicare Advantage comparison covers those differences.

Takeaway

A stand-alone Part D enrollee who keeps the same plan may see the average increase in KFF's October 30, 2026 projection. The average rise is $17 a month, or $204 a year by arithmetic, and KFF says people facing large increases need to take action to avoid paying significantly more. This applies to stand-alone plan enrollees who do not receive Extra Help, whose plan premium Medicare.gov lists as $0. MA-PD premiums average $9 a month.

Keeping the current plan can still be the cheaper choice. If a plan's own 2027 premium, deductible and coinsurance on the enrollee's drugs add up to a lower yearly total than the other plans, staying costs less. A low premium paired with a $700 deductible can cost more over a year than a higher premium with a smaller deductible.

Before December 7, you can open Medicare Plan Finder and compare each Medicare Part D 2027 plan's premium together with its deductible and coinsurance.

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