CMS Sets the Key 2027 Drug Plan Benchmark at 296 Dollars, Up About 24 Percent

On July 28, 2026, CMS released preliminary Part D bid figures for contract year 2027, a required technical step that helps plan sponsors finalize pricing before fall open enrollment. The national average monthly bid amount, known as the NAMBA, came in at 296.05 dollars for 2027, roughly 24 percent above the prior year figure. The base beneficiary premium, the starting point CMS uses to calculate the government subsidy for each plan, was set at 41.33 dollars. Under the Inflation Reduction Act, the base premium is capped at a 6 percent annual increase through 2029, and the 41.33 dollar figure reflects that maximum. Alongside the bid data, CMS confirmed that the Part D Premium Stabilization Demonstration will not continue beyond 2026. That voluntary program, in place since 2025, had cushioned standalone prescription drug plans against premium spikes following the benefit redesign the Inflation Reduction Act required. Without it, standalone plan premiums will be set by market conditions alone in 2027. The standalone drug plan market has also contracted: available plans fell from 709 to 360, meaning fewer options in many areas. People who rely on a standalone Part D plan rather than drug coverage inside a Medicare Advantage plan should compare all options carefully when enrollment opens in October.