For 2027, Medicare drug coverage gets a higher maximum deductible ($700, up from $615), a higher out-of-pocket cap ($2,400, up from $2,100), and fewer stand-alone plans to choose from: the average person has 9 stand-alone Part D plans in their region, down from 11 in 2026. The federal demonstration that held stand-alone premiums down for two years ends with 2026, so the plan that cost you nothing this year probably does not cost nothing next year. You have until December 7, 2026 to pick a 2027 plan, and the only way to know which one is cheapest for you is to compare plans against your own drug list.
"Best Part D plan for 2027" has no single answer. A plan's real price depends on which drugs you take, what tier each plan puts them on, and which pharmacy you use, so two neighbors can get opposite answers from the same list of plans.
What changed for 2027
| Figure | 2026 | 2027 | Change |
|---|
| Out-of-pocket cap on covered Part D drugs | $2,100 | $2,400 | Up $300 |
| Maximum standard deductible a plan may charge | $615 | $700 | Up $85 |
| Average stand-alone drug plan premium (CMS projection) | $35.09 | $36.00 | Up under $1 |
| Average Part D premium inside a Medicare Advantage plan | $11.32 | $7.00 | Down $4.32 |
| National base beneficiary premium (sets the late-enrollment penalty) | $38.99 | $41.33 | Up $2.34 |
| Stand-alone plans available to the average beneficiary | 11 | 9 | Down 2 |
| Distinct stand-alone plans offered nationwide | 360 | 316 | Down 44 |
| Parent companies offering stand-alone plans | 17 | 15 | Down 2 |
Sources: CMS press release "Medicare Advantage and Medicare Prescription Drug Programs Expected to Remain Stable in 2027" (September 28, 2026); CMS CY2027 Rate Announcement (April 6, 2026); medicare.gov ("No Medicare drug plan may have a deductible more than $700 in 2027"); CMS Part D base beneficiary premium memo (July 28, 2026); KFF analysis of the 2027 stand-alone plan landscape.
Four changes matter more than the averages.
The premium stabilization demonstration ends. CMS ran a voluntary program that paid stand-alone plans to keep premium increases small. It cut the average stand-alone premium by roughly $26 a month in 2025 and roughly $16 in 2026, narrowed for 2026, and is discontinued for 2027. The national average barely moves because the market reshuffled around it. Individual premiums move a lot. KFF found that six of the eight national stand-alone plans cut premiums in some states and raised them in others, and that one widely held national plan raised its premium by $50 or more in every state and DC. For that specific case, see AARP Medicare drug plan premiums 2027.
The $0 stand-alone premium is gone for people without Extra Help. The 2026 landscape had a $0-premium stand-alone plan. The 2027 file does not. KFF estimates about 4 million stand-alone enrollees who paid no premium in 2026 will pay something in 2027, whether they stay or switch. Extra Help is the exception: CMS says all 34 drug plan regions still have at least one stand-alone plan with a $0 premium for people who qualify for the full low-income subsidy.
A second round of negotiated drug prices starts January 1, 2027. CMS announced negotiated maximum fair prices for 15 more Part D drugs on November 25, 2025, covering cancer, diabetes, asthma and other chronic conditions. Semaglutide (Ozempic, Wegovy, Rybelsus) comes in at $274 for a 30-day supply. CMS estimates $685 million in out-of-pocket savings for Part D enrollees. If you take one of these drugs, your 2026 copay is a poor guide to your 2027 copay.
The Medicare Prescription Payment Plan renews itself. If you spread your drug costs over monthly payments in 2026 and you keep the same drug plan, your participation continues into 2027 unless you opt out. If you switch plans, you have to opt in again with the new plan. Nobody will do that step for you.
For the full cost breakdown of the 2027 benefit phases, see Medicare Part D 2027: projected costs and cap and the 2027 catastrophic threshold. This page is about choosing.
The dates that matter
| Date | What happens |
|---|
| September 30, 2026 | Deadline for your plan to mail your Annual Notice of Change (ANOC) |
| October 1, 2026 | 2027 plan details go live, plans may begin marketing |
| October 15, 2026 | Annual Enrollment Period opens, you can submit a change |
| December 7, 2026 | Annual Enrollment Period closes. Hard deadline |
| January 1, 2027 | Your 2027 coverage starts |
| January 1 to March 31, 2027 | Medicare Advantage Open Enrollment, for people already in a Medicare Advantage plan only |
The January window is not a second chance for stand-alone Part D. If you are on Original Medicare with a stand-alone drug plan and you miss December 7, you are generally in that plan for all of 2027 unless you qualify for a special enrollment period.
Two exceptions worth knowing. People who have Medicaid or who get Extra Help can change drug coverage once a month, year round, so the December 7 deadline is much less dangerous for them. And anyone can switch into a plan rated 5 stars in their area once between December 8, 2026 and November 30, 2027, if a 5-star plan exists where they live.
How to compare 2027 Part D plans, step by step
The official tool is Medicare Plan Finder at medicare.gov/plan-compare. It is free, it holds every plan sold in your ZIP code, and it is the only comparison that prices plans against your actual prescriptions.
1. Build an exact drug list before you start. Write down every prescription with the strength, the dose and how many you take per month. "Metformin" is not enough. "Metformin 1000 mg, twice a day, 60 tablets per 30 days" is. Pull the labels off your bottles rather than working from memory. A wrong dose produces a wrong price.
2. Read your Annual Notice of Change. Your current plan had to mail it by September 30, 2026. It lists next year's premium, deductible, and the tier and copay for each drug, with 2026 next to 2027. This is where you find out your plan dropped one of your drugs or moved it to a higher tier. If you threw it away, the plan has to send another copy.
3. Enter your drugs and your pharmacies on Plan Finder. You can log in with a Medicare account to pull your prescription history automatically, or enter the list by hand without an account. Add every pharmacy you actually use, including mail order if you use it.
4. Sort by estimated total yearly cost, not by premium. Plan Finder adds the premium, the deductible and your estimated copays for the drugs you entered. The lowest premium frequently finishes last on total cost. A $0 deductible plan with a higher premium can beat a cheap plan that makes you pay the first $700 yourself. Look at the total.
5. Check the coverage rules on each of your drugs, not just the price. Plan Finder flags prior authorization, step therapy and quantity limits. A drug that is technically covered but requires your doctor to file paperwork first is a real cost in time and risk. If one of your drugs is not on a plan's formulary at all, that plan's total is meaningless for you.
6. Confirm your pharmacy's status. Most plans have preferred and standard in-network pharmacies, and the copay gap between them can be large. A plan can look cheap because it assumes you will use a pharmacy 20 miles away or a mail-order service you do not want.
7. Use the star rating as a tiebreaker only. CMS rates plans 1 to 5 on customer service, complaints, drug safety and accuracy. It is useful between two plans with similar total costs, not a reason to pay hundreds more a year. See how Medicare star ratings work.
8. Check whether you qualify for Extra Help first. If you do, it changes every number on the page. Extra Help can cut your premium to $0, your deductible to $0, and cap each prescription at a few dollars. In 2027 the partial-subsidy copays are $5.80 for a generic and $14.40 for a brand name; people with full benefits and income at or below 100% of the poverty guidelines pay $1.65 and $5.00. Apply through Social Security at ssa.gov/medicare/part-d-extra-help. It is free to apply and you can do it at any time of year.
9. Enroll and keep the confirmation number. You can enroll inside Plan Finder, on the plan's own site, or by calling 1-800-MEDICARE. Write down the confirmation number and the date. Your old stand-alone plan ends automatically when the new one starts. Do not call to cancel the old plan yourself, since a gap in drug coverage can trigger a late enrollment penalty.
Stand-alone Part D or drug coverage inside a Medicare Advantage plan
These are two different products and the comparison is not just about premiums.
| Stand-alone Part D (PDP) | Drug coverage inside Medicare Advantage |
|---|
| Who it is for | People on Original Medicare, with or without Medigap | People who choose a Medicare Advantage plan for all of their care |
| Average 2027 premium | $36.00 | $7.00 for the drug portion |
| Doctor access | Any doctor who takes Medicare | Plan network, often with referrals and prior authorization |
| Plans available to the average person in 2027 | 9 | About 5,532 Medicare Advantage plans nationwide |
| Can you also buy Medigap | Yes | No, Medigap cannot be paired with Medicare Advantage |
| Change window after December 7 | Only with a special enrollment period | January 1 to March 31 Medicare Advantage Open Enrollment |
The $7 average looks decisive and is not. Medicare Advantage plans fund that low drug premium with rebate dollars that also pay for the rest of the plan, and you accept a provider network in exchange, so comparing drug premiums alone compares one line of two different contracts. For the whole package, start with Medicare Advantage plans 2027 and Medicare Advantage vs Medigap.
What is still unpublished for 2027
Two things you may be looking for do not exist yet, and any specific figure you see for them is an estimate:
- The 2027 Part B premium, Part B deductible and the income-related monthly adjustment amounts (IRMAA) for Part B and Part D. CMS normally publishes these in mid-November. The Part D surcharge for higher incomes rides on top of whatever plan premium you pick, so it does not change which plan is cheapest for you. See Part B premium 2027 projections.
- The 2027 Extra Help and Medicare Savings Program resource limits. CMS had not published its 2027 low-income subsidy memo as of late October 2026. The 2026 limits are $18,090 for an individual and $36,100 for a married couple including the burial expense allowance. See Extra Help resource limits 2027.
Free help that is not selling you a plan
Every state has a State Health Insurance Assistance Program (SHIP) offering free one-on-one Medicare counseling from trained counselors who are not paid commissions. Find yours at shiphelp.org or call 1-877-839-2675. Medicare's own line, 1-800-MEDICARE (1-877-486-2048 TTY), is open 24 hours a day and can run a plan comparison with you over the phone.
Frequently Asked Questions
What is the Medicare Part D deductible for 2027?
No Part D plan may charge a deductible higher than $700 in 2027, up from $615 in 2026. Many plans charge less, and some charge $0 on generic tiers while applying the deductible only to brand-name drugs. The deductible is only a maximum, so compare the actual deductible on each plan you look at.
How much is the Part D out-of-pocket cap in 2027?
$2,400. Once your out-of-pocket spending on covered Part D drugs hits $2,400 in 2027, you pay nothing more for covered drugs for the rest of the calendar year. The 2026 cap is $2,100. The cap resets January 1 and does not carry over.
Why did my Part D premium go up so much for 2027?
The most common reason is that the voluntary Part D Premium Stabilization Demonstration ends with 2026. That program paid plans to hold increases down, cutting the average stand-alone premium by roughly $26 a month in 2025 and roughly $16 in 2026. With it gone, premiums reflect what plans actually bid, and the increases are uneven across states.
How many Part D plans can I choose from in 2027?
The average Medicare beneficiary has 9 stand-alone drug plans in their region for 2027, down from 11 in 2026, with a range of roughly 8 to 12 depending on the state. Nationwide, 15 parent companies offer 316 distinct stand-alone plans, down from 17 companies and 360 plans in 2026.
Which 2027 Part D plan is the best one?
There is no plan that is best for everyone, and a list of "top plans" that does not know your prescriptions cannot answer the question. The plan with the lowest total yearly cost for your specific drug list, at a pharmacy you will actually use, is the right answer for you. Medicare Plan Finder at medicare.gov/plan-compare computes exactly that figure for every plan in your ZIP code at no cost.
What happens if I do nothing before December 7?
You stay in your current drug plan for 2027 at its 2027 price, with its 2027 formulary. That is sometimes the right outcome, but it is a choice, not a pause. If your plan is leaving your area entirely, it has to notify you and you get a special enrollment period to pick a replacement. Otherwise, doing nothing is how you discover a premium jump or a dropped drug in January.
Can I switch Part D plans after December 7, 2026?
Generally no. Stand-alone drug plan changes after December 7 need a special enrollment period, such as moving out of your plan's service area, losing other drug coverage, your plan terminating its Medicare contract, or entering or leaving a nursing facility. Two broad exceptions: people with Medicaid or Extra Help can switch once a month, and anyone can move to a 5-star plan in their area once between December 8, 2026 and November 30, 2027. The January 1 to March 31 window applies only to people already enrolled in a Medicare Advantage plan.
Do I need Part D if I take no prescriptions right now?
Possibly, because the late enrollment penalty is permanent. If you go 63 days or more without Part D or other creditable drug coverage after you were first eligible, Medicare adds 1% of the national base beneficiary premium for each uncovered month, for as long as you have Part D. The base is $41.33 in 2027, so 24 uncovered months adds about $9.92 a month, recalculated every year.
Does Extra Help change which plan I should pick?
Yes. Extra Help pays all or part of your premium and deductible and caps your copays. CMS says people who qualify for the full subsidy have at least one $0-premium stand-alone plan in all 34 drug plan regions for 2027, and the 2027 partial-subsidy copays are $5.80 generic and $14.40 brand. Apply through Social Security before you shop, because the result changes the math on every plan.
