The average Part D premium barely moves in 2027
CMS estimates the average monthly premium for a stand-alone Part D drug plan will go from $35.09 in 2026 to $36 in 2027. CMS also says 88% of people who don't get Extra Help can choose a basic Part D plan for $10.30 a month or less.
Why some plans will rise more than the average
In recent years, CMS ran the Part D Premium Stabilization Demonstration, which helped hold down stand-alone drug plan premiums. CMS narrowed it for 2026 and is ending it in 2027. Without that help, some plans raise their premium by more than the national average, while others hold steady or drop.
An average is not your plan. Your plan's Annual Notice of Change shows your exact 2027 premium. If it went up sharply, compare it with the other plans in your county before December 7, 2026.
Fewer plans to choose from
See the numbers
| Item | 2026 | 2027 | Status |
|---|---|---|---|
| Plans available to the average person | 11 | 9 | final |
The average person can choose from 9 stand-alone Part D plans in 2027, down from 11 in 2026.
Fewer stand-alone drug plans means less room to shop on price. If your plan is leaving your area, you will get a notice and a chance to pick a new plan. Medicare Advantage plans with drug coverage are another option, though they come with their own network rules.
The premium is only part of what you pay
A low premium can still be the more expensive plan over a year. What you pay for your own prescriptions depends on the plan's deductible, its drug tiers and its pharmacy network.
- Deductible. For 2027, a plan may charge up to $700 before it starts sharing the cost.
- Out-of-pocket cap. Your yearly spending on covered drugs is capped at $2,400 in 2027. Premiums don't count toward it.
- Extra Help. If your income and resources are limited, Extra Help can lower your premium, deductible and copays. See help paying for Medicare.
See the 2027 Part D out-of-pocket max and what's changing in Medicare for 2027.
Read the renewal notice in two passes
First identify the monthly premium and whether anything you pay is a separate late-enrollment penalty or income-related amount. Then check the deductible, medicine tiers, pharmacy rules and restrictions. A change in your total monthly deduction is not always caused solely by the insurer's base plan premium.
To find out whether your Part D premium will go up in 2027, compare your current monthly plan premium with the 2027 monthly premium in the Annual Notice of Change. If the new premium is higher, check the monthly difference and what it adds over twelve months. If you did not receive the notice, contact your plan. Medicare.gov explains what the annual notice includes.
A simple yearly-cost comparison
Start with twelve months of the plan premium, then add the estimated cost of your covered prescriptions at the pharmacies you would use. Compare the same drug names, strengths, quantities and refill schedule across plans. Use each plan's actual estimate rather than adding a deductible twice if the displayed annual drug estimate already includes it.
A higher-premium plan can still be less expensive for someone taking a costly medicine, while a low-premium plan may work well for a different prescription list. If you do not take medicines now, consider how maintaining creditable drug coverage protects against a future late-enrollment penalty as well as the premium you pay today.
Before replacing a drug plan
- Check every prescription on the new formulary, including the exact formulation.
- Review prior authorization, step therapy and quantity limits.
- Compare your preferred retail pharmacy with other eligible pharmacy options.
- Ask how ongoing prescriptions will be handled when the new policy starts.
- Save the enrollment confirmation and check that the effective date is correct.
Do not cancel an existing plan simply because you obtained a quote. Also check before enrolling in stand-alone Part D if you already have Medicare Advantage or employer retiree coverage; the interaction can affect your existing arrangement.
What if the premium is difficult to afford?
Ask about Extra Help and Medicare Savings Programs rather than assuming the cheapest advertised plan is your only option. Eligibility and the amount of help depend on the program rules and your circumstances. If you already receive assistance, bring its notice so the comparison uses the correct costs.
The Jordan Insurance Agency can compare the plans available for your address using your own prescriptions. We cannot promise the national average will match your renewal or that a plan with the lowest premium will have the lowest full-year cost.
Quick questions
Is my Part D premium going up in 2027?
Check your plan's Annual Notice of Change. On average, CMS estimates a small increase to $36 a month, but some plans rise more because a CMS premium program is ending.
What is the cheapest Part D plan in North Carolina for 2027?
CMS reports the lowest stand-alone Part D premium in North Carolina is $5.30 a month. The cheapest plan for you depends on your prescriptions.
When can I switch Part D plans for 2027?
During Medicare Open Enrollment, October 15, 2026 through December 7, 2026. The new plan starts January 1, 2027.
How The Jordan Insurance Agency helps
The Jordan Insurance Agency is an independent agency based in Charlotte, North Carolina. We run your prescriptions through each Part D and Medicare Advantage drug plan in your county and show you the full-year cost, not just the premium.
There is no fee for our help. Carriers pay the agent, so your premium is the same whether you enroll with us or on your own.
Next steps: read the 2027 Part D out-of-pocket max and when Medicare Open Enrollment for 2027 is.
2027 Part D premiums checked October 16, 2026. Sources: CMS — 2027 Medicare Advantage and Part D landscape, CMS — 2027 MA and Part D state-by-state fact sheets, Medicare.gov — How much does Medicare drug coverage cost?, Center for Medicare Advocacy — 2027 landscape.
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