Medicare 2026

Stand-Alone Medicare Part D Plans for 2027: What the New Landscape Shows

If you take prescription drugs and you're on Original Medicare, a stand-alone Part D plan is how you get drug coverage. Each fall, the Centers for Medicare & Medicaid Services (CMS) releases the next year's "Landscape" files showing how many of these plans will be offered and by which insurers. The 2027 numbers are now out, and they tell a clear story: the stand-alone Part D market is getting a little smaller, but the core consumer protections built into Part D are getting stronger.

Here's what to know as you get ready for the Annual Enrollment Period (October 15 – December 7, 2026), when the choices you make take effect on January 1, 2027.

A smaller stand-alone market for 2027

According to the CMS Part D Landscape files, there will be 323 stand-alone prescription drug plans offered across the country in 2027, from 15 insurers. That compares with 367 plans from 18 insurers in 2026. (CMS counts each plan once nationally; stand-alone Part D plans are actually sold region by region, so the number of options you personally see will depend on where you live.)

A shrinking plan count isn't unusual — insurers routinely enter, exit, consolidate or restructure their offerings from year to year, especially as the Part D benefit itself changes. What it means for you is simple: don't assume your current plan will look the same in 2027. Even if your plan continues, its formulary (the list of covered drugs), its pharmacy network, its tiers and its cost-sharing can change. Every fall, your plan is required to send you an Annual Notice of Change explaining what's different for the coming year. Read it.

Fewer "no-premium" plans for people with full Extra Help

Extra Help is the federal Low-Income Subsidy that reduces or eliminates Part D premiums, deductibles and copays for people with limited income and resources. CMS designates certain plans as "benchmark" plans — stand-alone Part D plans that someone with full Extra Help can enroll in at no monthly premium.

For 2027, there will be 63 benchmark stand-alone plans nationwide, down from 88 in 2026. If you have full Extra Help and your current plan is losing benchmark status, you may be reassigned to another zero-premium plan, or you may need to pick a new one to keep paying $0 in premium. Watch your mail carefully this fall for notices from CMS or Social Security, and verify your options at Medicare.gov.

To find out whether you qualify for Extra Help, you can apply through the Social Security Administration at any time.

The Part D benefit itself keeps improving

While the plan count is down, the underlying Part D benefit is getting more generous for 2027:

• Out-of-pocket cap: $2,400. Once your out-of-pocket spending on covered Part D drugs hits $2,400 in 2027, you pay $0 for covered drugs for the rest of the year. That's up from $2,100 in 2026 — a modest increase, but the cap itself is a major protection that didn't exist a few years ago.
• Deductible ceiling: $700. No stand-alone Part D plan may charge a deductible higher than $700 in 2027. Many plans charge less, and some charge nothing on certain tiers.
• Medicare Prescription Payment Plan. You can still choose to spread your out-of-pocket drug costs across the calendar year in monthly installments instead of paying at the pharmacy counter. Any Part D plan must offer this on request.
• Base beneficiary premium: $41.33. This is a national figure CMS uses to calculate the Part D late-enrollment penalty. It is not what any particular plan charges — actual monthly premiums are set plan by plan and vary.

What about Part B, IRMAA and the COLA?

Social Security has announced a 3.6% cost-of-living adjustment (COLA) for benefits payable beginning in January 2027.

The 2027 standard Part B premium and deductible, and the 2027 IRMAA income brackets (the income-related surcharges that higher earners pay on Part B and Part D), have not yet been released. CMS typically announces those figures in the fall, usually in November. Until they're published officially, no one — including this article — should quote or estimate them. Check Medicare.gov when the numbers come out.

Original Medicare + Part D, or Medicare Advantage?

Stand-alone Part D plans are designed for people who use Original Medicare (Parts A and B), often paired with a Medigap (Medicare Supplement) policy. Medicare Advantage plans, by contrast, usually bundle drug coverage into the plan itself.

Both paths have real trade-offs. Original Medicare plus a stand-alone Part D plan and Medigap generally offers broad provider access nationwide and more predictable cost-sharing, but it can involve higher monthly premiums overall. Medicare Advantage often has lower (sometimes $0) premiums and may include extra benefits, but typically uses provider networks and prior authorization. Neither is "better" — the right fit depends on your doctors, your prescriptions, your travel patterns, your budget and your tolerance for network rules. Compare carefully.

How to compare plans for 2027

During the Annual Enrollment Period, October 15 – December 7, 2026:

1. Pull together your current medication list, with dosages. 2. Go to the Plan Finder at Medicare.gov and enter your drugs and preferred pharmacies. 3. Look at the full annual cost — premium, deductible, copays and coinsurance — not just the monthly premium. 4. Confirm your drugs are on the plan's formulary and check any coverage restrictions. 5. If you'd rather talk to someone, call 1-800-MEDICARE (1-800-633-4227), available 24 hours a day, 7 days a week.

Your 2027 choices take effect January 1, 2027. A little time now can save you real money and real hassle next year.