Medicare negotiated drug prices 2027: all 15 drugs, list vs negotiated, and what you actually pay

The negotiated price is what Medicare plans pay the drugmaker, not your copay. For six of the 15 drugs, one month at that price already costs more than the whole-year $2,400 cap, so the cap, not the discount, sets the bill.

Quick answer: is the negotiated price what you pay at the pharmacy?

What are the 15 negotiated prices for 2027?

CMS selected 15 Part D drugs for its second round of negotiation. The prices below are for a 30-day supply and compare to each drug’s 2024 list price (the wholesale acquisition cost CMS used). A list price is not what most people paid, because insurers and plans negotiate rebates; the fact sheet itself says the figures are estimates based on continuing data.

How big is each discount from list?

CMS estimates that people enrolled in Part D would save an estimated $685 million in out-of-pocket costs under the defined standard benefit design once the prices take effect, and that the negotiated prices would have saved Medicare an estimated $12 billion across the 15 drugs in 2024 (about 44%).

How does the $2,400 cap change the math?

A Part D plan’s 2027 deductible can be no more than $700; after it you pay 25% coinsurance on the standard design until your out-of-pocket spending on covered drugs reaches $2,400, and then nothing more for covered drugs that year (Medicare.gov). The cap only applies to drugs your plan covers.

Run through that design, Pomalyst, Ibrance, Calquence reach the cap in the first month and Xtandi, Ofev, Austedo in the second, so those drugs cost an enrollee $2,400 a year however deep the discount. Three more reach it later in the year (Xifaxan in month 8, Vraylar in month 10, Otezla in month 5). The remaining six stay under it: Ozempic, Wegovy about $1,347, Trelegy about $1,050, Linzess about $933, Janumet about $765, Tradjenta about $759, Breo about $726 a year.

Which of the 15 have a free-drug programme instead?

If the cap is still more than you can carry, the drugmaker's free-medicine programme may help, and some take Medicare patients. We read three on 26 October 2026. Ibrance: Pfizer’s Patient Assistance Program says that in 2026 all patients, including Medicare Part D and Medicare Advantage patients, must have a household income at or below 300% of the poverty level ($47,880 for one person in the 48 states); see our Pfizer guide. Ozempic: Novo Nordisk’s page says uninsured patients can use its Patient Assistance Program at household income of 200% of the poverty level or below; see our Ozempic guide. Otezla: the Amgen Safety Net Foundation form asks for household income at or below $47,880 for one person and no insurance coverage; see our Otezla guide. For Trelegy see our Trelegy guide. We did not read programme terms for the other drugs on this page, and Medicare Extra Help may also lower costs: Extra Help guide.

How do you check whether your 2027 plan covers yours?

Medicare open enrollment runs October 15 to December 7, with changes starting January 1 (Medicare.gov). Look up each drug on each plan’s 2027 formulary, and read the tier, prior authorization and quantity limits next to it. Our formulary checker runs the lookup across plans, our Part D 2027 guide explains the plan side, and our enrollment check gives the four-step procedure.

My drugs: ____________________________________________
[ ] Is any of my drugs on the 2027 negotiated list? (Ozempic/Rybelsus/Wegovy, Trelegy, Xtandi, Pomalyst,
    Ofev, Ibrance, Linzess, Calquence, Austedo, Breo, Xifaxan, Vraylar, Tradjenta, Janumet, Otezla)
[ ] For each plan: is the drug on the 2027 formulary? Tier? Prior authorization? Quantity limit?
[ ] Plan deductible (max $700 in 2027): $____   Coinsurance or copay for the drug: ______
[ ] My yearly cap if covered: $2,400 (2027). Do I expect to reach it? Month ____
[ ] Medicare Prescription Payment Plan: do I want monthly bills instead of pharmacy lump sums?
[ ] Free-drug programme or Extra Help I may qualify for: ______________
Deadline: Medicare open enrollment ends December 7. Changes start January 1.

What should you do, by situation?

• If you take one of the six high-price drugs(Xtandi, Pomalyst, Ofev, Ibrance, Calquence, Austedo) Expect to reach the $2,400 cap quickly under a standard plan; compare plans on whether the drug is listed and its prior authorization rules, because the discount will not change your yearly cost.
• If you take one of the nine that stay under the cap or reach it lateCompare plans on the deductible and the coinsurance or copay for your drug, since those, plus the negotiated price, set your year.
• If you have a low incomeCheck Extra Help first, and the drugmaker’s free-medicine programme for your drug (Pfizer takes Medicare Part D patients up to 300% of the poverty level).
• If you are not on MedicareThe negotiated price does not apply to you: it is a Medicare price. Your plan or a drugmaker savings programme sets your cost.

Frequently asked questions

The bottom line

The 2027 negotiated prices are real discounts, from 38% to 85% off list, but they are not your copay: your plan's deductible (up to $700) and the $2,400 yearly cap decide what you pay. For six drugs, Pomalyst, Calquence, Ibrance, Xtandi, Ofev and Austedo, one month already exceeds the cap, so choose the plan that lists your drug and handles its prior authorization well before December 7.

Sources

1. Centers for Medicare & Medicaid Services. Medicare Drug Price Negotiation Program: negotiated prices for initial price applicability year 2027. cms.gov checked 2026-10-26
2. Medicare.gov. Costs for Medicare drug coverage ($700 deductible, $2,400 cap in 2027). medicare.gov checked 2026-10-26
3. Medicare.gov. Joining a plan (open enrollment October 15 to December 7). medicare.gov checked 2026-10-26
4. Pfizer. Pfizer Patient Assistance Program updates (2026 income requirement). pfizerrxpathways.com checked 2026-10-26
5. Novo Nordisk. NovoCare Patient Assistance Program. novocare.com checked 2026-10-26
6. Amgen. Amgen Safety Net Foundation application for Otezla. amgensafetynetfoundation.com checked 2026-10-26
7. HHS ASPE. 2026 poverty guidelines. aspe.hhs.gov checked 2026-10-26