2027 Medicare Part D Premiums Are Going Up: What It Means for Your Drug Coverage (and What to Do Before Dec 7)
If you have Medicare prescription drug coverage, 2027 may bring a higher monthly premium.
The Centers for Medicare & Medicaid Services (CMS) announced that the 2027 Medicare Part D base beneficiary premium will be $41.33, a 6% increase from the 2026 base amount of $38.99. Also, the temporary federal Part D Premium Stabilization Demonstration ends after the 2026 plan year.
For many people enrolled in stand-alone prescription drug plans, that may mean an estimated $11 to $20 more per month in 2027. Your exact increase depends on your plan, location, income, medications and available coverage options.
The good news? You have time to review your choices during the Medicare Annual Election Period (AEP), October 15 through December 7, 2026.
We can help you make the process easier.
Schedule a free Medicare consultation with Fidelity Insurance Group
Quick Answer: What Is Changing in 2027?
Here are the key facts:
- The national Part D base beneficiary premium is increasing to $41.33.
- The increase is 6%, which is the annual limit set under current law from 2024 through 2029.
- The temporary Part D premium-stabilization support ends after 2026.
- Many stand-alone Part D members may see higher monthly premiums.
- Some people may see a smaller increase, no increase or even a lower premium.
- Your personal plan premium will not necessarily be $41.33.
- You can review or change your Medicare drug coverage from October 15 through December 7, 2026.
- Changes made during AEP generally take effect January 1, 2027.
CMS explains the 2027 figures in its official Medicare Part D fact sheet.
Why Are Medicare Part D Premiums Going Up?
Two important changes are happening at the same time.
1. The Part D Base Premium Is Rising 6%
The base beneficiary premium is a national reference amount used in the formula for calculating Part D premiums. For 2027, that amount is $41.33.
It is important to understand that this is not the exact amount every person will pay. Actual Medicare Part D premiums vary by plan and are adjusted based on several factors, including:
- The plan’s bid and pricing
- Your location
- Whether the plan includes supplemental benefits
- Late enrollment penalties
- Income-related Medicare adjustments
- Low-income assistance eligibility
- Whether your drug coverage is part of a Medicare Advantage plan
In simple terms, $41.33 is a starting point in the calculation, not a universal bill.
2. Temporary Premium Stabilization Support Is Ending
The Part D Premium Stabilization Demonstration was created to help reduce sharp premium increases after major changes to the Medicare Part D benefit.
That temporary support helped stabilize premiums for stand-alone prescription drug plans during 2025 and 2026. CMS has announced that the demonstration will end at the close of 2026 because plan sponsors now have more experience pricing the redesigned Part D benefit.
Beginning January 1, 2027, plans will operate under traditional market conditions. Without the extra cushion, some stand-alone prescription drug plans may increase their premiums more noticeably.
That does not mean every plan will become more expensive. It does mean you should not automatically renew without reviewing your options.
Who May Be Affected Most?
The change may be especially important for people enrolled in stand-alone Medicare Part D plans, also called prescription drug plans or PDPs.
You may have a stand-alone Part D plan if you receive your healthcare through Original Medicare and purchased separate drug coverage.
You should also review your coverage if you have a Medicare Advantage plan with prescription drug coverage. In that situation, your drug benefits are usually included in the Medicare Advantage plan, so you may need to compare the plan’s complete package, not just a separate drug premium.
You may want to pay close attention if:
- Your monthly budget is limited or fixed.
- You take several prescription medications.
- You use brand-name or specialty medications.
- Your prescriptions have moved to different drug tiers.
- Your preferred pharmacy is no longer in-network.
- Your plan is changing its deductible or copayments.
- You have recently changed doctors or medications.
- You receive Extra Help or another form of low-income assistance.
- You are helping a parent, spouse or family member with Medicare decisions.
We can review your current situation with you and help identify what deserves a closer look.
Why You Should Not Compare Premiums Alone
A lower premium does not always mean a lower total cost.
When you review Medicare Part D coverage, look at the full picture:
Your Prescription List
Write down every medication you take, including:
- Drug name
- Dosage
- Quantity
- How often you take it
- Brand or generic version
Even one medication can change which plan is the best fit for you.
The Plan Formulary
A formulary is the plan’s covered-drug list. Check whether your prescriptions are covered and which tier applies to each one.
A drug on a higher tier may have a higher copayment or coinsurance. Another plan may place the same medication on a more affordable tier.
Pharmacies and Networks
Your plan may offer different prices at preferred pharmacies, standard pharmacies or through mail order.
Make sure your regular pharmacy is included and compare the cost at the location you actually use. Convenience matters, especially when you rely on monthly prescriptions.
Deductibles, Copayments and Coinsurance
Review the plan’s deductible and cost-sharing rules. A plan with a low monthly premium may have higher costs when you fill certain prescriptions.
Ask about the estimated yearly cost, not just the premium charged each month.
Coverage Rules
Some plans require:
- Prior authorization
- Step therapy
- Quantity limits
- Mail-order use for certain prescriptions
These rules can affect how easily you receive your medications. We guide you through the details so you can make an informed decision.
What to Do During Medicare AEP
The Annual Election Period runs from October 15 through December 7, 2026. Medicare.gov confirms that changes made during this period generally begin January 1, 2027.
During AEP, you may be able to:
- Join a Medicare drug plan.
- Switch from one Part D plan to another.
- Change from Original Medicare to Medicare Advantage.
- Change from Medicare Advantage to Original Medicare.
- Join or change a Medicare Advantage plan with drug coverage.
- Add or drop drug coverage, depending on your situation.
Visit the official Medicare.gov Open Enrollment page to review your enrollment rights and options.
You can also use the official Medicare Plan Compare tool to enter your ZIP code, medications and pharmacies.
A Simple AEP Checklist
Use this checklist before December 7:
Read your Annual Notice of Change.
Your plan sends this document with information about changes for 2027.Make a current medication list.
Include exact names, dosages and quantities.Check every prescription against the plan formulary.
Review your pharmacy network.
Compare premiums and estimated annual costs.
Check deductibles, copayments and coverage rules.
Confirm whether your doctors, pharmacies and preferred services still work with the plan.
Review your options before December 7.
Save confirmation of any enrollment request.
No problem if this feels like a lot. You do not have to sort through every detail by yourself.
How Fidelity Insurance Group Can Help
We provide free telephonic consultations to help you review Medicare prescription drug plans and Medicare Part D coverage.
Since 2008, we have helped individuals and families navigate insurance decisions from the convenience of home. We ask a few straightforward questions about your situation, review your current coverage and help compare available options.
During a consultation, we can help you:
- Organize your medication information.
- Understand how Part D plans work.
- Compare plan premiums and cost-sharing.
- Review formulary and pharmacy considerations.
- Identify potential coverage gaps.
- Determine whether your current plan still fits your needs.
- Connect you with selected insurance carriers.
- Complete the enrollment process when appropriate.
Telephonic appointments are flexible and easy to schedule. Video consultations are also available if you prefer to see our awesome faces while we review your options.
Reach out today for a free Part D plan review
Do Not Wait Until December 7
AEP can move quickly. Waiting until the final days may make it harder to gather your medication list, compare plans and complete your enrollment accurately.
Start now:
- Click to review prescription drug plans.
- Tell us about your current coverage.
- Fill out a short form.
- Schedule a free consultation.
- Review your 2027 options before the deadline.
You can also contact Medicare directly by visiting Medicare.gov or calling 1-800-MEDICARE.
We would love to help you approach 2027 with more clarity and confidence.
The Bottom Line
Medicare Part D premiums are changing in 2027. The base beneficiary premium is increasing to $41.33, and the temporary premium-stabilization support is ending after 2026.
Many seniors may see higher monthly costs, but your current plan is not your only option. Comparing your medications, pharmacies, premiums and total estimated costs during AEP can help you find coverage that is right for your situation.
The deadline is December 7, 2026.
Schedule your free consultation with Fidelity Insurance Group today
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 to get information on all of your options.
This article is for educational purposes only and is not a substitute for official Medicare guidance. Plan premiums, benefits, formularies, pharmacy networks and eligibility requirements vary by plan and service area. Medicare plan information for 2027 may change as final plan details are released.