Prescription drug coverage — with a new $2,100 cap
Part D is Medicare’s prescription drug coverage, sold by private insurers either as a stand-alone plan (with Original Medicare/Medigap) or built into a Medicare Advantage plan. For 2026, your out-of-pocket drug costs are capped at $2,100 for the year.
Once your out-of-pocket spending on covered drugs hits $2,100 in 2026, you pay $0 for the rest of the year — a major relief for anyone on expensive medications. The average stand-alone Part D premium actually dropped to about $34.50/month for 2026.
Every Part D plan covers a different list of drugs (its formulary) at different tiers, so the “cheapest” plan depends entirely on your specific medications. We run your drug list against 2026 plans to find your lowest total cost — not just the lowest premium.
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If you go 63+ days without Part D or other creditable drug coverage after you’re first eligible, Medicare can add a permanent penalty to your premium. Enrolling on time — or keeping creditable employer coverage — avoids it.