Premiums will likely increase for Medicare Part D in 2027, but the bump will be modest according to the program’s administrator.
Medicare Part D is the optional prescription drug plan for Medicare beneficiaries, which has its own premium, separate from Medicare Part B.
The increase is expected after Medicare announced on July 28 that it is ending a temporary program that paid subsidies to insurance companies to keep Part D premiums lower.
The experimental program was scheduled to end in December 2027.
Dr. Mehmet Oz, administrator of the Centers for Medicare and Medicaid Services, called the plan a giveaway to insurance companies, which cost taxpayers $9.8 billion over two years. …