Medicare Part D plans for 2026
What's available, what's changed, and how to find the right prescription drug plan for your needs this year.
Two ways to get Part D drug coverage
Medicare Part D prescription drug coverage is available through two types of plans. Both are offered by private insurance companies approved by Medicare, but they work differently.
Standalone Prescription Drug Plans (PDPs)
These plans only cover prescription drugs and are designed to work alongside Original Medicare (Parts A and B). If you have Original Medicare and want drug coverage, a standalone PDP is your path. You may also pair a PDP with a Medicare Supplement (Medigap) policy.
Medicare Advantage Prescription Drug Plans (MA-PDs)
These are Medicare Advantage plans (Part C) that include drug coverage built in. They bundle your hospital, medical, and prescription drug coverage into one plan. Most Medicare Advantage plans include Part D coverage, but not all — always check before enrolling.
Key difference
With a standalone PDP, you can see any doctor who accepts Medicare. With an MA-PD, you typically must use the plan's network of providers. The trade-off is that MA-PDs often include additional benefits like dental, vision, and hearing.
What changed for 2026
Several important changes affect Part D plans this year:
- Out-of-pocket cap increased to $2,100 — up from $2,000 in 2025. Once you reach this amount, you pay $0 for covered drugs the rest of the year.
- 10 drugs with Medicare-negotiated prices — the first round of drugs negotiated under the Inflation Reduction Act are now available at lower prices.
- M3P auto-enrollment — if you were in the Medicare Prescription Payment Plan in 2025, you're automatically re-enrolled for 2026 unless you opt out.
- Deductibles more common — industry-wide trends mean more plans are incorporating deductibles in 2026.
How to choose the right plan
The best Part D plan for you depends on your specific medications, pharmacy preferences, and budget. Here's what to evaluate:
- Formulary match — Does the plan cover your medications? What tier are they on?
- Total cost — Look beyond the premium. Consider deductibles, copays, and coinsurance for your specific drugs.
- Pharmacy network — Can you fill prescriptions at your preferred pharmacy? Are there preferred pharmacies with lower costs?
- Restrictions — Does the plan require prior authorization or step therapy for any of your drugs?
- Star ratings — Higher-rated plans generally provide better service and coverage.
Ready to take the next step?
There are several free ways to get help with your Part D decisions:
You can also visit Medicare.gov or call 1-800-MEDICARE (1-800-633-4227)