Currently, there‘s no universal Medicare drug price list available, as drug costs and availability vary according to the private insurer administering the Part D prescription drug plan.

Contact Part D prescription drug plan providers to view a Medicare drug price list to discuss their coverage options.

They can advise on the drugs they offer and the associated costs.

Part D drug plans may include various out-of-pocket costs, including premiums, deductibles, coinsurances, and copayments. However, in 2025, no plan may have a deductible above $590.

There are three stages to Part D plans:

  • The deductible stage: Not all Part D plans have a deductible, but if your plan does, you must begin at this stage.
  • The initial coverage stage: Once you pay your deductible in full, you must pay a 25% coinsurance toward the cost of your medications. Some plans may have different coinsurance amounts.
  • The catastrophic coverage stage: Once you pay $2,000 in out-of-pocket expenses, you enter the catastrophic coverage stage and pay no more toward your medications for the remaining calendar year. In 2026, the out-of-pocket total may increase to $2,100.

If you have a Medicare Part D prescription drug plan, a private insurer can administer it on Medicare’s behalf. The company must follow specific Medicare rules and processes, but it can set costs and decide which drugs to offer.

Each plan has a drug list, known as a formulary, that details the drugs it covers. Formularies typically operate on a tier system, with more expensive medications in higher tiers.

While plan providers can decide which drugs to include in their formularies, per Medicare rules, they must offer some medications, including at least two drugs in the most commonly prescribed categories and classes. Additionally, all plans must offer most of the drugs in specific protected classes. Protected classes include:

  • antidepressants
  • anticonvulsants
  • antipsychotics
  • cancer medications
  • HIV medications
  • immunosuppressants for organ transplants

Before enrolling in a Part D plan, it’s important to review the formularies from different companies to ensure that they include your prescription medications. If they’re unavailable, you may need to pay out of pocket.

Medicare formularies categorize drugs into different tiers. Tiers may include:

  • generic medications
  • preferred brand-name medications
  • nonpreferred brand-name medications
  • specialty medications

Each drug tier may usually have different out-of-pocket costs, with lower tier drugs often having lower copayments or coinsurances.

Here are some questions to keep in mind when researching different Medicare Part D plan options.

What to ask potential Part D plan providers

  • Are my prescription medications in the formulary?
  • What tier are my medications?
  • What are my cost-sharing responsibilities?
  • Are there any restrictions applicable to my medications?
  • How much is the monthly premium?

Here are some common questions and answers about Medicare drug price lists.

In 2025, the maximum out-of-pocket cost for Part D prescription drug plans is $2,000. In 2026, this may increase to $2,100.

Once you pay this amount, you may pay nothing further for the rest of the calendar year.

Drug costs can change, but experts included specific drugs in a Medicare negotiation as part of the 2022 Inflation Reduction Act (IRA).

These 10 drugs were:

  • apixaban (Eliquis), a medication for treating and preventing blood clots
  • rivaroxaban (Xarelto), another medication for treating and preventing blood clots
  • sitagliptin (Januvia), a medication that may help treat high blood sugar levels
  • empagliflozin (Jardiance), a prescription medication for treating high blood sugar levels, heart failure, and kidney disease
  • ibrutinib (Imbruvica), a drug for treating certain kinds of cancers and graft-versus-host diseases
  • insulin, a medication prescribed for treating and managing different types of diabetes
  • etanercept (Enbrel, Erelzi), a drug prescribed for treating rheumatoid arthritis, polyarticular juvenile idiopathic arthritis, psoriatic arthritis, ankylosing spondylitis, and plaque psoriasis
  • sacubitril-valsartan (Entresto), a drug prescribed for chronic heart failure
  • ustekinumab (Stelara), a prescription medication for treating autoimmune conditions, such as plaque psoriasis
  • dapagliflozin (Farxiga), a prescription medication for treating high blood sugar levels, heart failure, and kidney disease

In 2026, drug pricing for selected medications will come into effect following negotiation. These drugs are:

  • Eliquis
  • Jardiance
  • Xarelto
  • Januvia
  • Farxiga
  • Entresto
  • Enbrel
  • Imbruvica
  • Stelara
  • Fiasp
  • Fiasp FlexTouch
  • Fiasp PenFill
  • NovoLog
  • NovoLog FlexPen
  • NovoLog PenFill

If your doctor or healthcare professional prescribes a medication that they feel is medically necessary, Medicare may cover some or all eligible costs.

 

There’s no specific Medicare drug price list, but drug lists are available from Medicare Part D prescription drug plan providers.

By exploring all available options for Part D drug plans, including the medications listed in plan formularies, you can make informed decisions about your drug coverage and choose a plan that meets your medication and budget needs.