KFF Projects a 50% Jump in the Average Monthly Medicare Part D Stand-Alone Premium to $51 in 2027 Unless Enrollees Move to Cheaper Plans

A new KFF analysis projects that the average monthly premium for Medicare Part D stand-alone prescription drug plans will rise to $51 in 2027, a 50% increase from $34 in 2026, if current enrollees do not move to lower-premium options during open enrollment, which runs through December 7.

The review of 2027 premium and cost-sharing requirements also shows that the projected $51 average for stand-alone PDPs is more than five times the expected drug coverage premium in Medicare Advantage plans that include Part D benefits, known as MA-PDs, which is forecast to average $9 per month next year. The estimated $17 increase in the average PDP premium is far larger than the expected rise of less than $2 a month for drug coverage in MA-PDs.

“With some plans increasing premiums substantially, the stakes are higher this year for people with Medicare stand-alone drug coverage if they sit on the sidelines during open enrollment,” said Juliette Cubanski, vice president and director of the Program on Medicare Policy at KFF. “There are relatively low-premium PDP options, but people facing large premium increases need to take action if they want to avoid paying significantly more.”

Most PDP enrollees who do not receive extra financial help through low-income subsidies will pay more in 2027 unless they switch to lower-cost plans, including more than 4 million people now enrolled in PDPs with no premium. KFF says no zero-premium PDPs will be available in 2027.

Among the eight national PDPs, projected average monthly premiums in 2027 range from about $6 to $204. Centene’s Wellcare Value Script Rx is expected to have the lowest average premium at $6.50, up from $5.80 in 2026. United’s AARP Medicare Rx Preferred is projected to have the highest average monthly premium at $204.50, compared with $126.00 in 2026.

The analysis further finds that most Part D enrollees will face deductibles of several hundred dollars for prescription drug coverage in 2027. That includes 85% of MA-PD enrollees, up from 80% in 2026, and virtually all PDP enrollees at 99.8%, up from 96% in 2026, assuming people remain in their current plans. For 2027, Part D plans may charge deductibles up to $700, up from $615 in 2026, though they can set lower amounts. On average, the deductible will be $643 for PDP enrollees, up from $540 in 2026, and $489 for MA-PD enrollees, up from $360 in 2026.

Most Part D enrollees will also face coinsurance instead of copayments for preferred brands and non-preferred drugs, which can make out-of-pocket expenses less predictable.

Source: KFF