Medicare Part D Average Premium to Rise Just $0.91 in 2027, Defying Earlier $10 Estimates

The average monthly premium for standalone Medicare Part D prescription drug plans will rise to $36 in 2027, up $0.91 (2.6%) from $35.09 in 2026, the Centers for Medicare and Medicaid Services estimated. The modest increase defies earlier projections of roughly $10 after CMS announced in July it would end a subsidy that saved beneficiaries an average of $16 this year. Enrollees receiving Medicare Advantage rebates will see average monthly premiums fall 38% to $7 from $11.32, reflecting insurers' expanded use of federal rebates. KFF's Juliette Cubanski warned the averages mask benefit changes, noting insurers may drop coverage, raise copays or shift to coinsurance to hold premiums steady. About 4 million Original Medicare and 14.3 million Medicare Advantage enrollees will also lose $0 premiums in 2027.