The Centers for Medicare & Medicaid Services set the standard Medicare Part D deductible at $700 for 2027, up from $615 in 2026, the 2027 rate announcement shows and insurers’ summaries confirm.
The $700 figure appears in multiple industry summaries of CMS’s Contract Year 2027 Part D parameters; the same summaries say the annual out-of-pocket threshold that triggers catastrophic coverage will rise to $2,400 in 2027.
CMS’s rate materials also set the national base beneficiary Part D premium at $41.33 per month for 2027, up from $38.99 in 2026, which industry analysts say will push many plans to raise enrollee premiums when they file their Annual Notice of Change packets.
Insurer guidance and broker summaries note that final plan-level premiums and copays will vary by plan, pharmacy network and formularies; beneficiaries will see specific dollar amounts in each plan’s ANOC and Evidence of Coverage this fall.
What this means for people shopping during the 2027 open enrollment: a higher deductible and higher base premium make it more important to compare plans’ formularies and pharmacy networks before selecting coverage.
Officials and brokers point out that while the deductible and base premium rose, 15 high-priced drugs are scheduled for lower negotiated prices under the 2027 drug pricing changes, which could reduce costs for some beneficiaries depending on their prescriptions.
Sources
- Senior Legacy Partners — reported the standard Part D deductible rising to $700 in 2027 and the base beneficiary premium figure.
- ElderLawAnswers — provided the $41.33 national base beneficiary premium figure and commentary on premium effects for plans and beneficiaries.
- Medicare Professor — summarized the CMS CY 2027 Rate Announcement and its Part D benefit parameters, including the deductible and out-of-pocket threshold.
