A Medicare Part D plan advertising a tiny monthly premium can look like the obvious bargain, especially when you’re trying to keep retirement expenses predictable. But the premium is only the admission price; what you spend at the pharmacy can make a seemingly cheap plan much more expensive over an entire year. That’s especially important for 2027 because CMS projects the average stand-alone Part D premium at about $36 per month, while the standard deductible and annual out-of-pocket threshold are both increasing.
Your own Medicare Part D costs depend on the specific plan, prescriptions, pharmacies, and coverage rules that apply to you rather than those national averages. Before choosing a plan during Medicare Open Enrollment, which runs October 15 through December 7, compare these six numbers and details along with the premium.
