Medicare Part D Prescription Drug Coverage
Your prescription plan is only as good as the way it covers your medications at the pharmacies you actually use.
2026 changed the number, not the need to compare
No Medicare drug plan may have a deductible above $615 in 2026. After the deductible stage, plan cost-sharing applies. For 2026, out-of-pocket spending on covered Part D drugs reaches the catastrophic coverage threshold at $2,100.
Five things to check for every medication
- Is the drug on the formulary?
- What tier is it on?
- Which pharmacies are preferred?
- Does it require prior authorization, step therapy or quantity limits?
- What is the estimated annual cost, not just the monthly premium?
Why last year’s good plan can become this year’s expensive plan
Plans can change premiums, formularies, tiers and pharmacy relationships each year. Your own prescriptions can change too. That is why an annual drug-plan review should start with a current medication list.
Frequently asked questions
What is the maximum Part D deductible in 2026?
$615. A plan can charge less or no deductible.
What is the Part D out-of-pocket threshold in 2026?
$2,100 for covered Part D drugs. After reaching that threshold, you enter catastrophic coverage.
Should I review Part D every year?
Yes. Formularies, tiers, preferred pharmacies, premiums and plan rules can change from year to year.
Primary sources
This guide is based on current information from Medicare.gov and CMS. Rules can change, so verify time-sensitive details before acting.