- In 2026, the yearly out-of-pocket maximum for Medicare Part D prescription drugs were capped at $2,100 for all covered Part D medications, after which you pay $0 for the rest of the year.
- In 2026, the maximum deductible was raised to $615 across Part D plans.
- In 2027, Medicare will begin enforcing lower, directly negotiated prices for the first 10 high-cost drugs chosen under the Medicare Drug Price Negotiation Program.
Leon King has volunteered as a free local counselor for Medicare beneficiaries for more than five years. One of the biggest mistakes made by those he helps is when they miss the Annual Notice of Change. Missing those notices, which will start arriving in the mail this month, could create big problems next year, he said.
“A lot of people just ignore those notices,” said King who volunteers with SHINE (Serving Health Insurance Needs of Elders), a program of the Florida Department of Elder Affairs operated locally by ElderSource. “When we ask people if they received the letter, they often don’t even remember seeing it. It looks like junk mail and many people miss it.”
This year’s notices are expected to reflect changes that may affect Medicare Part D prescription drug plan premiums: a premium stabilization subsidy that had helped limit premium increases will not continue at the same level for 2027. Some beneficiaries could see higher Part D premiums. However, specific impacts will not be known until beneficiaries receive their annual notices…