Medicare Part D Is Changing in 2027. Here’s What Matters.

One of the most important is the standard Part D deductible.

For 2026, the standard deductible is $615.

For 2027, it rises to $700. The standard annual out-of-pocket threshold also increases from $2,100 to $2,400.

That doesn’t mean everyone with Part D will pay exactly those amounts. Actual costs depend on your particular plan, prescriptions and other factors.

There’s another reason to pay attention this fall.

Medicare Open Enrollment runs October 15 through December 7.

During that period, people can switch Medicare Advantage plans, change Part D plans, or switch between Original Medicare and Medicare Advantage, depending on their circumstances. Changes made during Open Enrollment generally take effect January 1.

Your current plan should also send you an Annual Notice of Change by September 30. This document explains changes to your plan’s costs and coverage for the coming year.

There’s also some potentially good news.

Beginning January 1, 2027, Medicare’s negotiated prices for 15 additional high-cost prescription drugs take effect. The drugs include medications used to treat conditions such as cancer, diabetes and asthma.

CMS estimates that, if those negotiated prices had been in effect in 2024, they would have produced substantial savings for Medicare and an estimated $685 million in out-of-pocket savings for people with Medicare prescription drug plans in 2027. That’s a projection, not a guarantee of what any individual will save.

Don’t assume your current drug plan will remain the best fit simply because it worked this year.

1. 1

   When Open Enrollment arrives, compare your actual medications, premiums, deductibles and estimated yearly costs rather than just looking at the monthly premium.

   Medicare’s plan finder is there for exactly this purpose.

• The deductible and out-of-pocket figures are standard amounts — actual costs depend on your particular plan, prescriptions and other factors.
• The $685 million savings figure is a projection, not a guarantee of what any individual will save.

1. CURRENT

   September 25, 2026

   The 2027 benefit parameters, negotiated drug prices and enrollment dates are documented by CMS and Medicare.gov.

Centers for Medicare & Medicaid Services (CMS) and Medicare.gov:

• CMS 2027 Medicare Advantage and Part D Announcement (cms.gov)
• CMS 2027 Part D negotiated prices (cms.gov)
• Medicare enrollment information (medicare.gov)