Medicare Part D
Review Medicare prescription coverage, your medications, and pharmacy costs with our Brandon team. Compare 2026 coverage with the 2027 plan details before making an Annual Enrollment decision.
What Does Part D Cover?
Medicare Part D covers a wide range of prescription medications, including generic and brand-name drugs. Each plan has its own formulary, a list of covered drugs organized into tiers , which determines how much you pay for each medication.
Part D is offered by private insurance companies approved by Medicare. Plans vary in their premiums, deductibles, formularies, and pharmacy networks. This is why comparing plans based on your specific medications is far more important than just comparing monthly premiums.
For 2027, the covered Part D out-of-pocket threshold is $2,400; for 2026 it is $2,100. Premiums and noncovered medications are separate. Review your own drug list rather than assuming the threshold is your total yearly cost.
2026 and 2027 Part D Costs at a Glance
Use the correct coverage year. These are program limits, not a personalized plan quote.
| Cost Component | 2026 | 2027 | Notes |
|---|---|---|---|
| Maximum Annual Deductible | $615 | $700 | Some plans have a lower deductible or none. Check which drugs it applies to. |
| Covered Part D Out-of-Pocket Threshold | $2,100 | $2,400 | After the threshold, covered Part D drugs have no further cost sharing that calendar year. Premiums and noncovered drugs are excluded. |
| Monthly Plan Premium | Varies by plan | Varies by plan | Compare the actual plan premium and your medication estimates. Income-related charges or a late penalty may also apply. |
Check the plan’s deductible, drug costs, and premium together. If an annual estimate already includes a cost, avoid adding it again. The Medicare Prescription Payment Plan spreads eligible drug bills over the calendar year; it does not reduce your total drug costs. Learn how the phases work.
The Extra Help Program
Extra Help (also called the Low Income Subsidy or LIS) is a federal program that helps people with limited income and resources pay for Part D costs. If you qualify, you may pay little to nothing for your prescription medications.
Some people receive Extra Help automatically through Medicaid, a Medicare Savings Program, or SSI. Others can apply through Social Security. The agency can help you locate resources and prepare questions; Social Security and Medicare determine eligibility.
You can apply through the Social Security Administration online, by phone at 1-800-772-1213, or in person at your local SSA office.
Check the Current Eligibility Rules
Income and resources are evaluated under current program rules. Do not rely on an old income chart or assume you cannot qualify without checking.
Read Medicare’s Extra Help guidanceFor local preparation and application resources, see our Medicare cost assistance information.
Compare Your 2027 Prescription Costs in Brandon
Enter your exact medications, doses, refill quantities, and pharmacy locations. Then review estimated annual costs and restrictions for the correct plan year.
Reviewed October 19, 2026. Official Medicare Part D cost information.
Related Medicare Topics
Drug tiers, the 3 coverage phases, and how to read your plan's formulary.
How Medigap fills the gaps in Original Medicare and works alongside Part D.
A full overview of all four parts of Medicare and how they work together.
Medicare Part D Questions
Let Us Find the Right Part D Plan for You
Our Brandon team compares the plans we represent using your medications, preferred pharmacies, and budget. Bring your plan notices and prescription list to a no-cost consultation. Plan premiums and other coverage costs still apply.
We do not offer every plan available in your area. Please contact Medicare.gov, 1-800-MEDICARE, or your local SHIP for information on all options.