3 Medicare Changes in 2026 Affecting Prescription Drug Coverage

When talking about 2026 Medicare changes, the focus often stays on Parts A and B and their associated costs and coverage. But if you're taking prescription medications, that's only part of the story. Your Part D plan has likely changed, too, which could also affect your retirement healthcare budget.

This year has seen several major changes to Part D plans, some for the better and others for the worse. Here are the three biggest differences that Medicare beneficiaries should be aware of in 2026.

Image source: Getty Images.

1. Higher maximum deductible on Part D plans

Part D plans may now have deductibles as high as $615, up from $590 in 2025. However, some Part D plans don't have a deductible at all. You can review your plan information if you're not sure whether yours has one.

If your plan does have a deductible, you must pay this amount out of pocket before your insurer will contribute anything toward your prescription drug costs. You can cover this with your own savings or with funds from a health savings account (HSA), if available.

2. Lower negotiated costs on 10 popular prescription drugs

Medicare has negotiated lower rates on 10 popular prescription drugs for 2026. They are:

• Januvia
• Fiasp, Fiasp FlexTouch, Fiasp PenFill, NovoLog, NovoLog FlexPen, and NovoLog PenFill
• Farxiga
• Enbrel
• Jardiance
• Stelara
• Xarelto
• Eliquis
• Entresto
• Imbruvica

If you're taking any of these medications, you may notice your out-of-pocket costs are lower this year than in years past. Check with your plan administrator if you're unsure how much you'll have to pay for your medications in 2026.

3. Higher out-of-pocket maximum on Part D plans

Medicare Part D plans have annual out-of-pocket maximums, which represent the most that you'll have to pay in deductibles and copays toward your prescription drug costs that year. This includes costs that services like Extra Help pay on your behalf.

The out-of-pocket maximum in 2025 was $2,000; in 2026, it's $2,100. This means you could pay slightly more for your medications than you have in the past. It's important to budget for this in advance so you aren't caught off guard when the costs start rolling in.

These costs are likely to change in 2027 and beyond, as well. Always take the opportunity to review your plan's updates for the next year during the annual Open Enrollment Period, and compare it to other options so you can make sure you're getting the best possible deal.

The Motley Fool has a disclosure policy.