CMS says Medicare Advantage premiums will average $12 a month in 2027, down from $14.37, while stand-alone Part D premiums rise to $36 from $35.09. Enrollees can switch plans during open enrollment Oct. 15-Dec. 7 for coverage beginning Jan. 1, 2027.
CMS said about eight in 10 Medicare Advantage enrollees can keep their current plan at the same or a lower premium in 2027. It also said 97% of Medicare enrollees will have access to 10 or more Medicare Advantage options; nationwide offerings total 5,532 plans in 2027, down from 5,553 in 2026. Insurers must notify enrollees by Sept. 30 of premium, drug-coverage and provider-network changes.
Premiums do not capture all plan changes: KFF's Juliette Cubanski said insurers could raise prescription-drug cost sharing or cover fewer drugs to reduce costs. In July, CMS announced it would end a Biden administration demonstration that subsidized Part D premiums. Drug-pricing experts said ending it could push 2027 prices higher, while CMS said the program was returning to “normal market conditions.”
