Medicare drug spending cap rises to $2,400 in 2027

The most you pay out of pocket for covered prescription drugs under Medicare Part D rises to $2,400 in 2027, up from $2,100 in 2026, about 14% more, according to PBS NewsHour. Part D is Medicare's drug coverage, and the cap is your yearly spending limit. Open enrollment runs through December 7, when you can switch plans.