CMS released preliminary technical Medicare Part D bid information for 2027 on July 28, 2026. The announcement is important for the prescription drug market, but two numbers in the release can easily be misunderstood by beneficiaries.

The two national figures CMS announced

CMS reported a 2027 National Average Monthly Bid Amount of $296.05 and a 2027 national base beneficiary premium of $41.33. These figures help determine how the Part D program is financed and how plan-specific premiums are calculated.

What these numbers do not tell you: The $41.33 national base beneficiary premium is not a promise that your prescription drug plan will cost $41.33 per month. Actual premiums vary by plan and can also be affected by factors such as the plan’s bid and any applicable income-related adjustment.

CMS says the final 2027 plan landscape comes later

CMS said finalized Medicare Advantage and Part D offerings, final average premiums and other plan information are expected in September. That is when the picture becomes much more useful for individual plan comparisons.

CMS also announced that the voluntary Part D Premium Stabilization Demonstration used for standalone prescription drug plans in 2025 and 2026 will conclude at the end of 2026.

What should you review before Open Enrollment?

  • Your plan’s Annual Notice of Change.
  • Whether each of your prescriptions remains on the formulary.
  • Drug tiers and utilization rules such as prior authorization or step therapy.
  • Your preferred pharmacy and whether its pricing or network status changes.
  • The total estimated annual cost—not only the monthly premium.

Medicare Open Enrollment runs October 15 through December 7. A plan that worked well this year may still be a good fit next year, but the right decision starts with reviewing the actual 2027 plan details once they are available.

Educational information only. This article summarizes public CMS information and is not a complete description of Medicare benefits or any specific insurance plan. Eligibility, benefits, provider networks, formularies and costs vary. Proposed rules may change before they become final.