Drug prices & Part D
Fifteen Medicare Part D Drugs Will Have Federally Negotiated Prices in 2027, Including Ozempic
With open enrollment opening October 15, every Part D and Medicare Advantage drug plan will be required to cover all 15 negotiated medicines at or below their maximum fair prices starting January 1.
By the Goodsurance editorial teamOctober 6, 2026
The Medicare drug price negotiation program's second set of lower prices takes effect January 1, 2027, covering 15 widely used Part D medications including the semaglutide group, which includes Ozempic, Rybelsus, and Wegovy.
Under the Inflation Reduction Act, the Centers for Medicare and Medicaid Services set maximum fair prices with manufacturers after the 15 drugs were selected for the second negotiation cycle. The selected drugs treat Type 2 diabetes, asthma, chronic obstructive pulmonary disease, cancer, and other conditions. The maximum fair price for semaglutide products, including Ozempic and Wegovy, is 274 dollars for a 30-day supply, compared with a list price of 959 dollars before negotiation. CMS estimates total savings of about 12 billion dollars relative to 2024 net prices across all 15 drugs, and roughly 685 million dollars in out-of-pocket savings for Medicare beneficiaries.
Ozempic is one of 15 Medicare Part D drugs with a federally negotiated price starting January 1. Open enrollment opens October 15.
All stand-alone Part D drug plans and Medicare Advantage plans with drug coverage are required to include these 15 medicines on their formularies at prices at or below the maximum fair prices. However, what a beneficiary pays at the pharmacy depends on the plan's tier placement, deductibles, and cost-sharing rules, which differ from plan to plan. Medicare Part D covers semaglutide products only when prescribed for Type 2 diabetes, not for weight loss.
The annual enrollment period, which opens October 15 and closes December 7, is when people with Medicare can join, switch, or drop a Part D or Medicare Advantage plan for 2027. The Medicare Plan Finder at Medicare.gov allows beneficiaries to enter their specific prescriptions and compare estimated costs across available plans in their area.
In plain words
Starting January 1, 2027, all Medicare drug plans must cover 15 medicines at lower prices set by the federal government. One of them is Ozempic, which treats Type 2 diabetes. The new price is 274 dollars for a 30-day supply. Before the government stepped in, the list price was 959 dollars. Every Part D plan must offer these drugs. But how much you pay at the pharmacy still depends on your plan's own rules.
Open enrollment starts October 15 and ends December 7. That is the time each year when you can switch or join a Medicare drug plan. You can compare plans at Medicare.gov. Enter your medicines to see which plan costs you less.
Understand the basics first
Source: CMS
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