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Prescription drug coverage options are shrinking for Medicare shoppers
The number of stand-alone Medicare Part D plans will drop to 12-16 for 2026, driven by insurer financial pressures including the Inflation Reduction Act, KFF says.
- Medicare shoppers have from Oct. 15 to Dec. 7 to choose, with standalone drug plans shrinking to eight to 12 options for 2026, says KFF's Juliette Cubanski.
- Industry officials say the Inflation Reduction Act’s $2,100 annual out-of-pocket cap increases financial pressure on insurers, prompting some stand-alone Part D insurers to reduce presence and Elevance to exit.
- The Centers for Medicare and Medicaid Services reported average monthly premiums will fall nearly 10% to $34.50, though plans could raise deductibles or narrow formularies and premiums may rise up to $50.
- Nearly 11% of people with standalone prescription drug coverage lost their plan in 2024, while brokers warn that enrollment deadline congestion and lost commissions limit late help.
- Depending on the state, low-income subsidy recipients may have one to four no‑premium plans available, according to KFF and Oliver Wyman.
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13 Articles
13 Articles
Coverage Details
Total News Sources13
Leaning Left7Leaning Right1Center5Last UpdatedBias Distribution54% Left
Bias Distribution
- 54% of the sources lean Left
54% Left
L 54%
C 38%
Factuality
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