Medicare Part D
New Mexico Part D Plans for 2027: 10 Stand-Alone Drug Plans From 5 Insurers, Down From 11
SANTA FE, N.M. — People with Medicare in New Mexico will choose from 10 stand-alone Medicare Part D prescription drug plans in 2027, offered by 5 insurers across the state's single CMS Part D region. That is one fewer plan than in 2026, when 11 stand-alone plans were sold by 6 insurers, according to the Centers for Medicare & Medicaid Services (CMS) Landscape files.
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Click to call 855-729-3240Key takeaways
- New Mexico will have 10 stand-alone Part D plans from 5 insurers in 2027, down from 11 plans and 6 insurers in 2026.
- The Part D out-of-pocket cap rises to $2,400 in 2027 (from $2,100 in 2026), and no Part D plan may charge a deductible higher than $700.
- One stand-alone plan in New Mexico qualifies as a $0-premium benchmark plan for people with full Extra Help in 2027, down from 4 in 2026.
- Annual Enrollment runs October 15 – December 7, 2026, and a plan picked during that window starts January 1, 2027.
| Fact | Figure | Source |
|---|---|---|
| Part B standard monthly premium (2026) | $202.90 | Medicare.gov |
| Part D out-of-pocket cap (2026) | $2,100 | CMS |
| Part D out-of-pocket cap (2027) | $2,400 | CMS |
| Part D maximum deductible (2026) | $615 | CMS |
| Annual Enrollment Period (for 2027 coverage) | October 15 – December 7, 2026 | Medicare.gov |
Area counts are for the county as a whole and are not a recommendation of any plan. Program figures are set nationally.
The shift arrives alongside bigger program changes for 2027: a higher annual cap on what Part D members pay out of pocket for covered drugs, the same statutory ceiling on how much any Part D plan may charge as a deductible, and a 3.6 percent Social Security cost-of-living adjustment announced October 14, 2026 for benefits payable beginning January 2027. The Annual Enrollment Period for 2027 coverage runs October 15 through December 7, 2026, with elections taking effect January 1, 2027.
How many stand-alone Part D plans are offered in New Mexico for 2027?
New Mexico has 10 stand-alone Part D plans from 5 insurers in 2027. In 2026, the state had 11 plans from 6 insurers, so the count drops by one plan and one insurer.
Because CMS treats New Mexico as a single Part D region, every stand-alone plan counted here is available statewide — from Albuquerque and Santa Fe to Las Cruces, Farmington, Roswell and the rural counties in between. The insurer that offered a stand-alone Part D plan in New Mexico in 2026 but not in 2027 is HealthSpring. Members in a plan that is leaving will receive a notice from their current plan and can use Annual Enrollment to pick a new one.
The drug coverage built into Medicare Advantage plans is separate from these stand-alone totals and is not included in the 10-plan figure.
Which insurers offer stand-alone Part D plans in New Mexico for 2027?
Five insurers offer stand-alone Part D plans in New Mexico for 2027. Listed alphabetically with their 2027 plan counts, they are:
- Aetna Medicare — 1 plan
- Blue Cross and Blue Shield of IL, NM, OK, TX — 2 plans
- Humana — 3 plans
- UnitedHealthcare — 2 plans
- Wellcare — 2 plans
That is the full statewide lineup. The order above is alphabetical and is not a ranking. Specific premiums, deductibles, formularies, pharmacy networks and star ratings for each plan are listed on the Medicare Plan Finder at Medicare.gov and in each plan's own documents.
What do the 2027 Part D out-of-pocket cap and deductible limit mean for New Mexico members?
For 2027, the most a Part D member will pay out of pocket for covered drugs in a plan year is $2,400, up from $2,100 in 2026. The highest deductible any Part D plan may charge in 2027 is $700.
The $2,400 cap applies across all Part D plans sold in New Mexico, including the drug portion of Medicare Advantage plans. Once a member's true out-of-pocket drug spending reaches that amount, they pay $0 for covered Part D drugs for the rest of the calendar year. The $700 figure is a ceiling, not a required deductible — individual plans can set a lower deductible, or none at all, within the rules CMS publishes at Medicare.gov. The 2027 base beneficiary premium used in the Part D late-enrollment penalty calculation is $41.33; actual monthly premiums are set plan by plan.
Which New Mexico Part D plans can someone with full Extra Help join for no premium in 2027?
In 2027, 1 stand-alone Part D plan in New Mexico qualifies as a low-income benchmark plan that a person with full Extra Help can join with no monthly premium. In 2026, 4 plans qualified.
Extra Help, also called the Low Income Subsidy, lowers Part D premiums and cost sharing for people who qualify based on income and resources. Current benchmark enrollees whose 2026 plan is not a benchmark plan in 2027 may be reassigned by CMS or may choose a different plan during Annual Enrollment 2027. Applications for Extra Help are handled by the Social Security Administration, and Medicare.gov explains how the benchmark list and reassignment work.
How does a stand-alone Part D plan compare with the drug coverage built into Medicare Advantage in New Mexico?
A stand-alone Part D plan covers only prescription drugs and pairs with Original Medicare, while a Medicare Advantage plan with drug coverage bundles medical and drug benefits into one plan. The 10-plan New Mexico total above counts only stand-alone Part D plans.
Someone who keeps Original Medicare and wants drug coverage generally enrolls in one of the 10 stand-alone plans. Someone who chooses a Medicare Advantage plan that includes drugs typically gets Part D through that plan and usually should not also enroll in a stand-alone Part D plan. Medicare.gov walks through how the two paths interact.
How can New Mexico readers check a plan's drug list and pharmacies before December 7, 2026?
The Medicare Plan Finder at Medicare.gov lets a person enter their ZIP code and the exact drugs they take, then shows each New Mexico Part D plan's formulary, pharmacy network and cost sharing for those drugs. The tool is free and does not require creating an account to run a search.
Before Annual Enrollment 2027 closes on December 7, 2026, it is worth confirming that each medication is on the plan's formulary at an acceptable tier, that preferred pharmacies are reachable (including mail order if that matters), and that any prior-authorization or step-therapy rules are workable. Calling 1-800-MEDICARE (TTY 1-877-486-2048), available 24 hours a day, 7 days a week, is another way to verify the same details.
Where can New Mexicans get free help with Part D for 2027?
Free, unbiased help is available directly from Medicare. Call 1-800-MEDICARE (TTY 1-877-486-2048) any time, or use the Plan Finder, enrollment tools and plan documents at Medicare.gov. Questions about Extra Help and the Social Security COLA go to the Social Security Administration at ssa.gov or 1-800-772-1213.
By the numbers
Medicare Part B premium, 2006–2026
The standard monthly Part B premium has climbed from $88.50 in 2006 to $202.90 in 2026. Hover any point for that year’s premium.
Source: CMS. Standard premium shown; in some hold-harmless years many existing enrollees paid less. Confirm at Medicare.gov.
Prescription coverage
How Medicare Part D works in 2026
The old coverage gap (“donut hole”) is eliminated as of 2025 (three phases now). There’s now a hard yearly cap of $2,100 on what you pay out of pocket for covered drugs, and you can spread those costs across the year with the Medicare Prescription Payment Plan.
Key dates
Medicare enrollment periods at a glance
- Around your 65thInitial Enrollment PeriodA 7-month window around the month you turn 65 — your first chance to sign up.
- October 15 – December 7Annual Enrollment Period (Open Enrollment)Anyone with Medicare can join, switch, or drop a Medicare Advantage or Part D plan.
- January 1 – March 31Medicare Advantage Open EnrollmentIf you're already in a Medicare Advantage plan, you can make one change.
- January 1 – March 31General Enrollment PeriodFor people who missed their first chance to sign up for Part B.
- VariesSpecial Enrollment PeriodTriggered by life events like moving or losing other coverage.
Dates are set by Medicare and apply nationwide. Confirm your personal windows at Medicare.gov or 1-800-MEDICARE.
Try it
How the 2026 Part D drug cap works
Slide to your estimated yearly prescription costs and see how the $2,100 out-of-pocket cap protects you. This illustrates the standard Part D benefit; your plan may structure costs differently.
Once your out-of-pocket spending on covered drugs reaches $2,100, you pay nothing more for the rest of 2026. Confirm details at Medicare.gov.
Explore
When can you enroll? An interactive year
Enrollment windows are federal and the same nationwide. Confirm your personal dates at Medicare.gov or 1-800-MEDICARE.
Good to know
Frequently asked questions
How many stand-alone Part D plans will New Mexico have in 2027?
When is Annual Enrollment for 2027 Part D coverage?
What is the Part D out-of-pocket cap in 2027?
How many New Mexico plans can someone with full Extra Help join with no premium in 2027?
- CMS — Medicare Part D program rules (medicare.gov)
- CMS — Medicare enrollment periods (medicare.gov)
For personalized answers, contact Medicare.gov or 1-800-MEDICARE.
Sources and methodology
- Medicare.gov, Medicare costs (Part B premium)
- CMS, Medicare prescription drug coverage (Part D) program rules
- CMS, Medicare Advantage and Part D plan-year announcements
- Medicare.gov, enrollment periods and plan rules
Figures cited in this article
- CMS Landscape Source Files (2027 and 2026): New Mexico stand-alone Part D plan counts, insurer counts, insurer names, and the count of benchmark plans for full Extra Help enrollees.
- CMS — Medicare Part D program rules (medicare.gov): the 2027 out-of-pocket cap of $2,400, the $700 maximum deductible, and the $41.33 base beneficiary premium.
- Medicare.gov — Medicare enrollment periods: Annual Enrollment dates of October 15 – December 7, 2026 and a January 1, 2027 effective date.
- Social Security Administration: the 3.6 percent cost-of-living adjustment announced October 14, 2026 for benefits payable beginning January 2027.
How we put this together: area counts come from the CMS files listed above for the county that contains this city, program figures come from CMS, Medicare.gov and the Social Security Administration, and no plan is ranked or recommended.
By The Medicare Desk · Published . For personalized answers, contact Medicare.gov or 1-800-MEDICARE.
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This page was last updated: October 2026.