Part D premiums for 2026

How Part D premiums work

Every Part D plan charges a monthly premium — the amount you pay just to have the coverage, whether or not you fill any prescriptions that month. Premiums vary widely from plan to plan and from region to region.

Some plans have premiums as low as $0 per month, while others can be $80 or more. Plans with lower premiums may have higher copays or a more limited formulary, so it's important to look at the total cost — not just the premium.

What affects your premium

• The plan you choose — each plan sets its own premium based on its benefits and formulary
• Your location — plans and pricing vary by state and even by county
• Income (IRMAA) — if your modified adjusted gross income is above a certain threshold, you'll pay an extra amount on top of your plan's premium
• Late enrollment penalty — if applicable, this is added to your premium permanently

Income-Related Monthly Adjustment Amount (IRMAA)

Higher-income beneficiaries pay a surcharge on top of their regular Part D premium. This is called IRMAA and is based on your income tax return from two years ago. IRMAA applies to individuals with income above approximately $106,000 (or $212,000 for couples filing jointly).

If you believe your income has changed significantly (due to retirement, divorce, or other life events), you can request a reconsideration from Social Security.