Enrollment & timing

Part D Plans Face Back-to-Back Deadlines This Week to Finalize 2027 Premiums and Market Participation

Medicare prescription drug plans must complete rebate reallocation by August 6 and notify CMS of de minimis intent by August 11, two steps that lock in whether plans remain in the 2027 market and at what premium.

By the Goodsurance editorial teamAugust 5, 2026

Medicare Part D plan sponsors face two consecutive deadlines this week that will shape the drug coverage options and premiums beneficiaries see in 2027. The first deadline is Thursday, August 6, 2026, when plans must finish rebate reallocation, the process by which Medicare Advantage prescription drug plans apply government-held rebate dollars to reduce member drug premiums, by 11:59 PM Pacific time. CMS laid out that timeline in a July 28, 2026 announcement to plan sponsors. After reallocation closes, sponsors have a brief additional window, from August 7 through 11:59 PM Pacific on August 11, 2026, to tell CMS whether they intend to invoke the de minimis provision. That provision allows a plan with a net drug premium at or below zero after reallocation to remain in the market, with CMS negotiating the premium back to zero. Plans that miss the August 11 notification deadline cannot use de minimis and may need to exit the 2027 market. These mechanics follow the July 28 announcement that the Part D national average monthly bid amount for 2027 is 296 dollars and 5 cents and that the base beneficiary premium for 2027 is 41 dollars and 33 cents. Beneficiaries will not see their specific 2027 plan options or premiums until the Annual Notice of Change period that precedes the fall open-enrollment window.

Two Part D deadlines this week determine which drug plans offer coverage in 2027 and at what price.

In plain words

Medicare drug plans had two important deadlines this week. By August 6, plans had to finish moving rebate money to lower the cost of drug coverage for members. Then, by August 11, plans had to tell Medicare if they wanted to stay in the program even if their drug premium came out at zero or less. These steps help decide which drug plans will be available in 2027 and how much they will cost. The average base drug premium for 2027 is set at 41 dollars and 33 cents.

Understand the basics first

Source: CMS
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