According to the Centers for Medicare & Medicaid Services (CMS), the average monthly premium for a stand-alone Medicare Part D prescription drug plan is projected to be $36 in 2027, up by less than $1 from $35.09 in 2026.
Key points about 2027 Part D premiums
- Stand-alone drug plans. Average premium of about $36 per month in 2027, compared with $35.09 in 2026.
- Drug coverage inside a Medicare Advantage plan. The average Part D portion of the premium is projected to fall from $11.32 in 2026 to $7 in 2027, a 38% decrease. This is why so many Medicare Advantage plans with drug coverage advertise a $0 or very low premium.
- Basic and enhanced plan access. CMS reports that 88% of beneficiaries without low-income help will have access to a basic Part D plan at $10.30 per month or less, and 93% will have access to an enhanced plan at less than $6 per month.
- Premium stabilization demonstration. CMS has narrowed this voluntary program for 2026 and plans to discontinue it in 2027, so individual plan premiums can change more than the averages suggest.
- Standard benefit. For 2027 the Part D standard deductible is $700 and the annual out-of-pocket threshold is $2,400.
What the average does not tell you
An average hides a wide range. Your actual premium depends on the plan, your pharmacy, and your income. Higher-income enrollees also pay an income-related monthly adjustment on top of the plan premium. Compare plans using your own medications before choosing.
When to shop: the Medicare Annual Enrollment Period runs October 15 to December 7, 2026 for coverage that starts January 1, 2027.
The 2027 Part D base beneficiary premium is not yet confirmed. This article will be updated when it is. Sources: CMS press release, September 28, 2026; CMS CY2027 Rate Announcement. Last reviewed October 2, 2026.
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