What will people with Medicare Part D pay for their prescription drug plans in 2026? The Centers for Medicare & Medicaid Services (CMS) anticipates that the average premium for Part D plans will decrease slightly to $34.50 per month in the coming year.
This cost-sharing chart outlines what you can expect to pay for Medicare prescription drug coverage in each phase starting in 2026, including:
- Deductible period: You will pay a deductible up to a maximum of $615 (varies by plan).
- Initial coverage period: You will pay a 25% copayment or coinsurance toward the costs of your prescription drugs. This phase ends once you've accumulated $2,100 in out-of-pocket drug costs. Your out-of-pocket costs include your:
- Part D deductible
- Copayments
- Coinsurance costs
- Catastrophic coverage period: Once you've reached the $2,100 out-of-pocket cap, you enter the catastophic benefits period and pay $0 for covered drugs for the rest of the calendar year. This cost threshold was lowered from its 2024 limit of $8,000 thanks to the Inflation Reduction Act (IRA).
Note: The Medicare Part D coverage gap (also called the "donut hole") was eliminated as of Jan. 1, 2025.
Medicare Part D Cost-Sharing Chart for 2026
View, print, and share our handy chart below.
Source: Centers for Medicare & Medicaid Services (CMS)
Where can I find help exploring my Medicare plan options?
It's important to learn about all the Medicare coverage options available so that you can choose the right plan for your needs. To compare different Part D plans, try the online Medicare plan finder tool.
If you'd like more personalized support from a knowledgeable expert, contact your local State Health Insurance Assistance Program (SHIP). SHIPs provide free, impartial insurance counseling and assistance to people who are eligible for Medicare (as well as their families and caregivers). These programs are available in all 50 states, Puerto Rico, Guam, Washington, D.C., and the U.S. Virgin Islands. Find your local SHIP office here.
