Imagine filling your cart at your favorite grocery store with the same items you buy every week, and discovering at checkout that several prices have changed.
For many Medicare beneficiaries, prescription drug coverage can feel much the same way. As we head into 2027, Medicare Part D plans are changing again. Even if your medications haven’t changed, what you pay for them might.
The Price Tag Has More Than One Number
When people compare stand-alone prescription drug plans, it’s tempting to focus on the monthly premium. But that is only one piece of the puzzle.
Nationally, the average premium for Part D plans is projected to increase by less than $1 per month in 2027. That sounds reassuring. But averages don’t tell what will happen with your particular plan. Individual premiums, deductibles, formularies, and what you pay when you pick up a prescription can change.
The standard Part D deductible increases from $615 in 2026 to $700 in 2027. The annual out-of-pocket threshold also increases, from $2,100 to $2,400.
Another change worth watching: what your plan charges for medications.
When a Copay Becomes a Percentage
A $10, $20, or $40 copay is easy to understand. But some plans and drug tiers use coinsurance instead. Rather than a fixed dollar amount, you pay a percentage of the drug’s cost.
That distinction matters, particularly with more expensive medications.
The percentage may sound harmless until you know what the bill is. That’s why checking if your prescriptions are still “covered” isn’t enough. You want to know what tier each medication is in, whether the cost is copay or coinsurance, whether the deductible applies, and which pharmacies offer the best pricing.
Your Annual Prescription Checkup
Medicare Open Enrollment runs October 15 through December 7. It provides an opportunity to compare coverage for the coming year.
Your 2027 medications may be the same as 2026. Your drug plan may have the same name. But in Medicare Part D, “same” doesn’t mean the cost is the same.
Think of it as an annual checkup for your drug coverage: Gather your current medications—including exact names, dosages, and frequency—then CALL or COME SEE US to help compare them to your plan’s 2027 costs.
See beyond the premium to estimate what you might spend over the year.
Homework now can make the price you pay less shocking. At DRY RIDGE INSURANCE, our goal is to help you navigate changes year after year, so you’re fully informed, confident in your Medicare health insurance choices, and never caught by surprise.
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