Let's set the stage. Eliquis (apixaban) is a blood thinner used to prevent and treat blood clots and to lower stroke risk in people with atrial fibrillation. It was the most used drug in the first round of Medicare drug price negotiation: 3,928,000 Part D enrollees used it in 2023, with $18.3 billion in gross Part D costs, per CMS.
Eliquis negotiated price for 2027
| Item | 2027 | 2026, for comparison |
|---|---|---|
| Medicare negotiated price, 30 day supply | $237.25 | $231 |
| Effective | January 1, 2027 | January 1, 2026 |
| 2023 list price, 30 day supply | $521 | |
Source: CMS Selected Drug List and Negotiated Prices file, September 21, 2026. The negotiated price stays in place while Eliquis remains in the program, and CMS adjusts it each January for inflation (CPI-U). That adjustment is why the 2027 price is a little higher than the 2026 price; it is still less than half the 2023 list price.
Example: Eliquis alone under the 2027 standard benefit
This is an estimate using 2027 numbers: the $237.25 negotiated price, the $700 standard deductible and 25% coinsurance after it. Real pharmacy prices can include small fees, and most plans use their own copays instead.
| Fill | Drug price | You pay | Why |
|---|---|---|---|
| January | $237.25 | $237.25 | Deductible |
| February | $237.25 | $237.25 | Deductible |
| March | $237.25 | $228.44 | Last $225.50 of deductible, then 25% of $11.75 |
| April to December (9 fills) | $237.25 each | $59.31 each, $533.81 total | 25% coinsurance |
| Year total | $2,847 | $1,236.75 | Below the 2027 cap of $2,400 |
For comparison, the same math under the 2026 standard benefit ($231 price, $615 deductible) came to $1,154.25. The higher deductible and the inflation adjustment add about $83 for the year.
Here's the thing. Most of that cost lands in the first three months. If your plan has a lower drug deductible, or puts Eliquis on a tier where the deductible does not apply, your January bill can be much smaller. That is exactly why we price your drug list plan by plan instead of looking at premiums.
What else changes for 2027
- The standard Part D deductible rises to $700 and the out-of-pocket cap to $2,400, per the CMS CY 2027 Rate Announcement.
- Every 2027 plan formulary is new. We check how each 2027 plan covers Eliquis, its tier and whether the deductible applies, before we recommend anything.
What about Xarelto?
Xarelto, another blood thinner, was also in the first round. CMS removed it from the negotiation program effective January 1, 2027, because a generic version is now on the market, so its negotiated price ends on December 31, 2026. For comparison, its 2026 negotiated price was $197 for a 30 day supply. If you take Xarelto, have us price it on 2027 plans rather than assuming 2026 costs.
Ways to lower what you pay
- Compare plans by the total yearly cost of your drug list, not by premium.
- Ask about a 90 day supply at a preferred or mail order pharmacy.
- Check whether you qualify for Extra Help.
- If January bills are hard, ask your plan about the Medicare Prescription Payment Plan, which spreads payments over the year without lowering the total.
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Frequently asked questions
What is the Medicare negotiated price for Eliquis in 2027?
$237.25 for a 30 day supply, effective January 1, 2027, per the CMS Selected Drug List and Negotiated Prices file. It was $231 in 2026; CMS adjusts the price each year for inflation. The 2023 list price was $521.
Is Eliquis covered by Medicare Part D?
Medicare drug plans must include drugs with negotiated prices on their formularies, per CMS. Your cost still depends on the plan's tier, deductible and pharmacy network.
Will Eliquis hit the Part D out-of-pocket cap in 2027?
On its own, usually not. Under the 2027 standard benefit, Eliquis alone comes to about $1,237 for the year, below the $2,400 cap. Combined with other brand drugs it can reach the cap.
Why is my Eliquis so expensive in January?
Because many plans apply the drug deductible first. In 2027 the standard deductible can be up to $700. A plan with a lower deductible or a flat copay for Eliquis can spread the cost out.
Sources
- CMS: Selected Drug List and Negotiated Prices data file (ZIP, September 21, 2026)
- CMS fact sheet: Negotiated prices for initial price applicability year 2026
- CMS: Selected drugs and negotiated prices
- CMS: Announcement of CY 2027 MA Capitation Rates and Part C and Part D Payment Policies (April 6, 2026)
- Medicare.gov: Catastrophic coverage and the yearly out-of-pocket limit
Updated October 26, 2026 by the Everything Senior Insurance Data Desk.