2026 Part D (Prescription Drug) Costs

Jan 12

TL:DR (AKA Too Long, Didn’t Read. As the kids say!)

$615.00 deductible for most plans, some can be less.
Out of pocket maximum is $2,100.00, a $100.00 increase from last year.

What Is Changing for Medicare Part D in 2026

In 2026 the Part D, prescription drug coverage, has slightly changed. It typically does, but there used to be the donut hole and I won’t bore you with that and how miserable that was for Medicare Beneficiaries.

Prescription Drug Deductibles for 2026

This year, most plans will have a $615.00 deductible (new this year). Some will have $0.00 deductible, but most will be at that $615.00 number. An insurance company is not allowed to charge more than $615.00. You’ll pay costs out of pocket until hitting that deductible amount.

The New Annual Out-of-Pocket Maximum for Prescription Drugs

REGARDLESS of Supplement/MediGap or Medicare Advantage, the annual out of pocket maximum will be $2,100.00. That is the absolute most you can spend in 2026 for prescription drugs while on Medicare. If one of your meds costs you $600.00 a month, you will hit this out of pocket maximum within roughly 3.5 months. So, come May until December you shouldn’t owe anything else for scripts.

Why Costs Can Still Vary by Plan and Situation

This is pretty universal across the board for Medicare, but obviously it depends and you should always check with your agent, brokerage you used, or the insurance company directly.