CMS to End Part D Premium Stabilization Program After 2026

CMS announced it will discontinue the Part D Premium Stabilization Demonstration after 2026, ending a $10-per-month premium subsidy and a $35 cap on annual premium increases. Starting in 2027, Medicare beneficiaries' prescription-drug premiums will reflect plans' actual bids without federal guardrails. CMS projected the 2026 average stand-alone premium at $34.50; that figure may not hold once both supports lapse.