What is the average Medicare Part D premium for 2027?

According to the Centers for Medicare & Medicaid Services, the average total premium for a stand-alone Medicare Part D prescription drug plan is projected to be $36 per month in 2027, up less than $1 from $35.09 in 2026.

Key points about 2027 Part D premiums

• Stand-alone drug plans. The average total premium is projected to rise from $35.09 in 2026 to $36 in 2027, an increase of less than $1.
• Drug coverage inside a Medicare Advantage plan. The average Part D portion of the premium, after Medicare Advantage rebates, is projected to drop from $11.32 in 2026 to $7 in 2027, which is why so many Medicare Advantage plans that include drug coverage advertise a $0 premium.
• Base beneficiary premium. The 2027 Part D base beneficiary premium, the figure used to calculate late-enrollment penalties and income-related adjustments, is $41.33, up from $38.99 in 2026.
• Premium stabilization. CMS is ending its voluntary Part D premium stabilization demonstration at the end of 2026, so it does not apply to 2027 plans.
• Extra Help. These averages exclude the large number of people who pay no premium at all through the Low-Income Subsidy, known as Extra Help.

An average is not your premium

Part D premiums vary widely by plan and by state, and the cheapest premium is often not the cheapest plan overall once your own prescriptions, the plan deductible and the pharmacy network are taken into account. In 2027 no plan may charge a deductible above $700, and your out-of-pocket spending on covered drugs is capped at $2,400. In 2026 those figures are $615 and $2,100.

Talk to a licensed iHealthAgents advisor

We can walk you through what these amounts mean for your own coverage and compare every plan available where you live.

Book a time with a licensed advisor, or call Illinois 312-726-6565 or Texas 972-666-0578.

This article is for educational purposes only and is not a substitute for advice about your specific situation. Figures shown are the 2026 and 2027 amounts published by the Centers for Medicare & Medicaid Services.