Medicare Drug Costs Are Rising 50 Percent for Seniors: What To Know
Summary
KFF projects that average monthly premiums for stand-alone Medicare Part D plans will rise from $34 in 2026 to $51 in 2027 if current enrollees keep their plans. The increase could affect many beneficiaries, but premiums vary widely, and CMS has issued a much lower average estimate; comparing plans during open enrollment may help people find lower premiums.Key Facts
- KFF estimates the average monthly premium for stand-alone Part D plans will be $51 in 2027, up from $34 in 2026, assuming current enrollees stay in their plans.
- The projected increase equals about $204 more per year for the average enrollee who keeps the same plan.
- KFF estimates that 10.4 million beneficiaries without low-income subsidies—about three-quarters of stand-alone Part D enrollees in that group—would pay higher premiums in 2027 if they stay in their current plans.
- Among eight national stand-alone plans KFF analyzed, projected average monthly premiums range from about $6 to $204.
- KFF projects average monthly premiums of about $9 for Medicare Advantage prescription drug plans in 2027, compared with $51 for stand-alone plans.
- CMS projected an average stand-alone Part D premium of about $36 per month in 2027, roughly $1 above its 2026 estimate.
- KFF said one possible reason its estimate differs from CMS's is that CMS may account for people moving to cheaper plans, while KFF's $51 estimate assumes current enrollees keep their coverage.
- The article links rising premiums largely to the end of a temporary federal program that helped stabilize stand-alone Part D premiums as insurers adjusted to changes under the Inflation Reduction Act.
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