Medicare prescription drug costs will jump 50% in 2027. Doing nothing could cost you.
The average premium for standalone Medicare Part D plans is projected to rise from $34 per month in 2026 to $51 in 2027. Costs vary widely, so beneficiaries may save money by comparing plans during open enrollment.
Source: Dailynews ·
Grace's Take
A 50% jump in Medicare Part D premiums means drug costs will eat into retirement income faster than most people expect—especially if you're not actively shopping for plans. If you're 10–15 years from retirement, this trend matters when you model your healthcare budget. Part D premiums alone could swing from $34 to $51 monthly, with options ranging from $6 to $204 depending on your plan and location. That's real money over decades of retirement. Worth checking whether your current retirement projections assume static healthcare costs or account for this kind of upward pressure on drug coverage.
- •Average standalone Part D premiums are projected to rise 50%.
- •National plan premiums are projected to range from about $6 to $204 monthly.
- •Comparing plans during open enrollment could reduce costs.
Retirees and people approaching Medicare eligibility should review drug plans annually instead of automatically renewing existing coverage.