Medicare Open Enrollment runs from October 15 through December 7, and the first official figures for 2027 have been released. They can look reassuring at first glance, so this article explains what they actually say and what they do not.
The headline number
The Centers for Medicare & Medicaid Services (CMS) projects that the average monthly Medicare Advantage premium will fall from $14.37 in 2026 to $12 in 2027. CMS also reports that about eight in ten Medicare Advantage members will be able to keep their current plan at the same or a lower premium.
What the headline does not show
The premium is only one part of what a plan costs you. Industry reporting indicates that some insurers are reducing the number of plans they offer and adjusting benefits for 2027. That means deductibles, copayments, doctor networks, and drug coverage may still change, even when the monthly premium looks lower. Plans can also differ from one county to the next.
Prescription drug costs
The standard Part D deductible rises from $615 in 2026 to $700 in 2027, and the yearly out-of-pocket limit for covered Part D drugs is $2,400. A temporary federal subsidy that helped hold down premiums for stand-alone drug plans ends after 2026, so premiums for those plans may rise for some people.
Part B
The official 2027 Part B premium has not yet been announced. Figures you may see online are projections, not final amounts, and should not be used for budgeting as if they were confirmed.
Your next step
Review your options before your plan renews on its own. A plan that suited you this year may not be the right fit for 2027, and the Annual Notice of Change letter from your insurer is the best place to start. Rafael Mendoza is a licensed independent agent who can compare the plans available where you live, in English or Spanish, by phone or by video, at no cost to you.
Call 904-583-8391, Monday through Friday, 8:30 AM to 5:00 PM, or use the no-cost plan review form on this website to choose a time that works for you.
A personal note: I have spent 25 years helping families make sense of their Medicare coverage. If any part of your plan letter is unclear, please call me. There is no cost and no obligation.