Medicare Part D Enrollment Data for 2026 Shows 83% of Seniors in Plans with Preferred Pharmacy Networks

The Centers for Medicare & Medicaid Services (CMS) has released initial data on enrollment in Medicare Part D prescription drug plans (PDPs) for 2026, revealing significant shifts in pharmacy network dynamics. According to an analysis of the data, 83% of seniors remain enrolled in PDPs with preferred pharmacy networks, a figure that is nearly unchanged from 82% in 2025 but represents a notable decline from the peak enrollment rate of 99% observed in 2023. Additionally, the number of major Part D plans offering preferred networks has dropped to a record-low eight.

The data highlights changes in competitive positioning among pharmacies within these networks. Supermarkets such as Albertsons and Publix have emerged as preferred providers across all major plans, while Walgreens continues to maintain its position. Walmart, which pioneered the preferred network model under Medicare Part D, has seen its standing slip to mid-tier status among preferred providers. Smaller independent pharmacies have completely exited participation in PDPs’ preferred networks this year. Meanwhile, policy changes—including the Inflation Reduction Act’s expansion of the Low-Income Subsidy (LIS) program—are reducing financial incentives for beneficiaries to use preferred pharmacies. Combined with pharmacy benefit manager (PBM) reforms introduced through the Consolidated Appropriations Act of 2026, these factors are expected to diminish the relevance of the preferred network model over time.

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Date: February 18, 2026

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GOAI