CMS has released an important number for the 2027 Medicare Part D market: $41.33.

That’s the 2027 Part D base beneficiary premium.

But here’s the part agents need to make clear:

$41.33 is not the premium every Medicare beneficiary will pay for Part D coverage in 2027.

The base beneficiary premium is a national figure used as a starting point in calculating plan-specific basic Part D premiums. Actual premiums vary by plan and can differ from this number. That means agents shouldn’t take the $41.33 figure and turn it into a simple message that “Part D will cost $41.33 next year.”

Instead, use it as a signal to pay close attention to the actual 2027 plan premiums and the bigger prescription-cost picture when reviewing coverage with clients.

For 2026, the Part D base beneficiary premium is $38.99. For 2027, it increases to $41.33. That represents a 6% increase. The Inflation Reduction Act limits annual increases in the national base beneficiary premium to no more than 6% from 2024 through 2029.

But that protection applies to the national base beneficiary premium calculation. It does not mean every individual Part D plan premium can increase by only 6%. That’s an important distinction when talking with clients. A beneficiary’s actual premium depends on the specific plan. Other factors can also affect what an individual pays.

So while $41.33 is an important 2027 Medicare number, it should not be used as a substitute for checking the actual premium of the plan a client is considering.

Think of the $41.33 figure as part of the formula behind Part D pricing, not a universal price tag. Individual prescription drug plans submit bids, and plan-specific premiums are determined through the Part D payment and premium process.

That means the actual premium a beneficiary sees may be higher or lower than the national base beneficiary premium. For agents, the practical lesson is simple:

Don’t quote the national number when the client needs the plan-specific number.

Once 2027 plan information is available, verify the premium for the exact plan and service area you’re discussing. And don’t stop there. Premium is only one part of what the client may spend on prescription coverage.

CMS also announced that the 2027 national average monthly bid amount, or NAMBA, is $296.05.

The NAMBA is an enrollment-weighted average of applicable Part D plan bids for basic Part D benefits. CMS uses it when calculating government subsidies to plans. That’s useful background for agents who want to understand how the Part D market is priced.

But it is not the monthly premium beneficiaries should expect to pay. For most client conversations, the more important questions are what the client’s actual plan premium will be and how that plan covers the prescriptions they use.

There is another change agents should know for 2027. CMS confirmed that the voluntary Part D Premium Stabilization Demonstration will end after 2026.

The demonstration began in 2025 and provided additional premium stabilization for participating standalone prescription drug plans while the redesigned Part D benefit was being implemented. CMS continued the program for 2026 with revised parameters.

For 2027, CMS determined that Part D plan sponsors had gained enough experience with the redesigned benefit to support their bid assumptions. CMS therefore announced that the demonstration will end and the program will return to traditional market conditions.

Agents don’t need to turn that technical change into a long explanation for every client. But you should understand the change as you review the 2027 standalone PDP landscape and compare it with what clients had in 2026.

This is where the numbers become useful. A client may immediately focus on the monthly premium. That’s understandable. It’s the easiest number to compare.

But the plan with the lowest premium isn’t automatically the plan that will produce the lowest overall prescription costs for that client. Before discussing a 2027 Part D plan, look beyond the premium and review the client’s actual prescriptions.

Ask:

Are their drugs on the formulary?

What tiers are those medications on?

Are there applicable coverage requirements or restrictions?

Which pharmacies does the client use?

How does the plan treat those pharmacies?

What could the client’s estimated prescription costs look like over the year?

A few dollars saved on the monthly premium may matter less if the client’s medications cost more under that plan. The reverse can also be true. That’s why Part D comparisons should be based on the client’s medications and pharmacy use, not one headline number.

Before comparing 2027 coverage, update the client’s medication list. Don’t automatically reuse what you entered last year. Confirm the exact prescriptions the client currently takes, along with the dosage, quantity, and frequency needed for an accurate comparison.

Then confirm their preferred pharmacy. If the client is open to another pharmacy or an appropriate mail-order option, that may also be worth comparing.

The goal isn’t to find the plan with the lowest advertised premium. It’s to help the client understand the available coverage based on the prescriptions they actually use and the costs they may face. That’s where an agent adds value.

As 2027 plan information becomes available, don’t look at premiums in isolation.

Watch for changes in:

Plan-specific premiums

Formularies

Drug tiers

Pharmacy networks

Cost sharing

Plan availability

Then connect those changes to your individual clients. One client may be most affected by a premium change. Another may care much more about whether a specific medication remains covered.

Someone else may discover that their preferred pharmacy no longer provides the same cost experience. The important number isn’t always the one in the headline. It’s the number that changes what your client may actually pay.

• The 2027 Part D base beneficiary premium is $41.33.
• The $41.33 figure is not the premium every Medicare beneficiary will pay.
• Individual Part D plan premiums can be higher or lower than the national base beneficiary premium.
• The 2027 national average monthly bid amount is $296.05, but that figure is not a beneficiary’s monthly premium.
• CMS is ending the voluntary Part D Premium Stabilization Demonstration after 2026.
• Agents should compare Part D plans using premiums, prescriptions, formularies, pharmacies, and estimated client costs.
• The lowest monthly premium does not automatically mean the lowest overall prescription costs for a specific client.

The headline for 2027 is $41.33.

The conversation with your client needs to go further. Use the national Part D figures to understand what’s changing in the market. Then use the actual 2027 plan information to help each client understand what those changes could mean for them.

Check the premium.

Check the prescriptions.

Check the pharmacy.

Then look at the bigger cost picture. Insurance Advisors Direct helps independent Medicare agents navigate changing Medicare markets with carrier support, quoting tools, compliance resources, training, technology, and experienced people to turn to when questions arise.

With more than 30 years of experience, 30+ carriers, and 15+ product lines, IAD helps agents stay informed and build stronger systems for serving their clients.

Visit iadbrokerage.com to learn more about the support available to IAD agents.

We don’t just support agents. We partner with them.

Compliance Reminder: Medicare Part D premiums, formularies, pharmacy networks, cost sharing, plan availability, and other plan details can vary and may change. Agents should use current CMS information and approved carrier and plan materials when discussing 2027 coverage. Verify plan-specific information before making representations or recommendations to beneficiaries.