The Centers for Medicare & Medicaid Services (CMS) announced the parameters that will guide calendar year (CY) 2026 individual and state costs for the Medicare Part D drug benefit. CMS projects a 5.69% increase in per capita Part D expenditures. However, after accounting for prior-year revisions, the annual increase is 4.27%.
FFIS estimates that CY 2026 clawbacks will cost states $20.2 billion, a 4.7% increase from CY 2025.