If you have a Medicare prescription drug plan, you may notice that the monthly premium looks different next year.
Over the past two years, the federal government helped keep Part D premiums from increasing while insurance companies adjusted to the new Medicare prescription drug rules. That temporary program ends at the close of 2026, so some plans may charge higher premiums for 2027.
The important thing to know is that the Medicare protections added over the last few years are expected to remain in place. In 2026, your annual out-of-pocket prescription drug costs are capped at $2,100, and that limit is expected to increase slightly in 2027 to keep pace with inflation. Covered vaccines will continue to be available at no cost, and covered insulin will continue to have a maximum monthly cost of $35.
A higher premium also doesn’t necessarily mean you should switch plans.
When we review prescription drug coverage each fall, we’re looking at the whole picture. We compare your medications, your preferred pharmacy, and what each plan would cost you over the course of the year. Sometimes that means recommending a different plan. Other times, it means telling you to stay exactly where you are because it’s still the best fit.
That’s how we’ve always approached Medicare. We don’t recommend making a change simply because a new plan is available. We recommend a change only when it improves your coverage or helps lower your overall costs.
We’ll review everything together during Medicare’s Annual Enrollment Period this fall. If your medications have changed recently, or you’d like us to take another look at your prescription coverage, just let us know. We’re always happy to help.
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