The Centers for Medicare & Medicaid Services (CMS) has released its latest information about Medicare Advantage and Medicare Part D plans for 2027 ahead of the annual Open Enrollment Period.

For 2027, CMS projects that the average monthly premium for Medicare Advantage plans will decline, while the average premium for standalone Medicare Part D prescription drug plans is expected to increase slightly.

Medicare beneficiaries should not rely only on national average premiums. Individual costs can vary by plan, location, prescription drugs, providers, pharmacies, income and other factors. CMS recommends reviewing current coverage and comparing available plans before the December 7 deadline.

What Is Medicare Open Enrollment?

Medicare Open Enrollment, also called the Medicare Annual Enrollment Period, is the annual period when people with Medicare can review and make certain changes to their Medicare health and prescription drug coverage for the following year.

The 2027 Medicare Open Enrollment Period runs from October 15 through December 7, 2026.

During this period, beneficiaries can compare Medicare Advantage plans, prescription drug plans and other available coverage options. Changes made during the enrollment period generally become effective January 1, 2027.

2027 Medicare Open Enrollment Dates

What Is Changing for Medicare in 2027?

CMS expects Medicare Advantage and Part D markets to remain broadly stable in 2027, while some national average premiums are changing.

The most notable projected changes include a lower weighted average Medicare Advantage premium and a small increase in the average premium for standalone Medicare Part D prescription drug plans.

Note: These are national averages or statutory figures and do not represent the exact amount every Medicare beneficiary will pay.

Medicare Advantage Premiums in 2027

CMS projects that the weighted average monthly premium across Medicare Advantage plans will decrease from $14.37 in 2026 to $12.00 in 2027.

That represents a projected decrease of approximately 16.5 percent in the weighted average plan premium.

CMS also projects that approximately 34 million people will be enrolled in Medicare Advantage in 2027, representing about 47.4 percent of people enrolled in Medicare.

The number of available Medicare Advantage plans is expected to remain broadly stable, with approximately 5,532 plans projected for 2027 compared with 5,553 plans in 2026.

Medicare Part D Costs for 2027

Medicare Part D provides prescription drug coverage. CMS projects that the average monthly premium for standalone Part D prescription drug plans will increase from $35.09 in 2026 to $36.00 in 2027.

This is a national average. The actual premium paid by an individual beneficiary depends on the specific prescription drug plan available in their area.

CMS also reports that 88% of non-low-income beneficiaries are expected to have access to a basic Part D plan costing $10.30 or less per month.

In addition, 93% of non-low-income beneficiaries are expected to have access to an enhanced Part D plan costing less than $6 per month.

2027 Part D Premium Comparison

What About Medicare Part B Premiums in 2027?

Medicare beneficiaries should understand that Medicare Advantage and Part D plan premiums are different from the Medicare Part B premium.

CMS has published the 2027 Medicare Advantage and Part D premium outlook, including the figures discussed in this article. Beneficiaries should check official Medicare information for the final 2027 Part B premium when it is announced.

What Can You Change During Medicare Open Enrollment?

During the annual Medicare Open Enrollment Period, people with Medicare can review and make certain changes to their Medicare health and prescription drug coverage.

Depending on your current coverage and eligibility, you may be able to:

• Join a Medicare Advantage plan.
• Switch from one Medicare Advantage plan to another.
• Leave Medicare Advantage and return to Original Medicare.
• Join a Medicare Part D prescription drug plan.
• Change from one Part D prescription drug plan to another.
• Review your current plans premiums and coverage for 2027.
• Compare prescription drug formularies and pharmacy networks.

Why Should You Review Your Medicare Plan Every Year?

Medicare plans can change from one year to another. A plans premium, deductible, copayments, provider network, pharmacy network, covered drugs, benefits and other terms may change for the following year.

Even if your current plan worked well in 2026, it is important to review the plans Annual Notice of Change and Evidence of Coverage before deciding whether to keep the plan for 2027.

How to Compare Medicare Plans for 2027

Medicare beneficiaries can use the official Medicare Plan Finder to compare available Medicare Advantage and Part D plans.

When comparing plans, do not look only at the monthly premium. A plan with a lower premium may have different deductibles, copayments, drug coverage, provider networks or other out-of-pocket costs.

7 Things to Check Before Choosing a 2027 Plan

1. Check the monthly premium.
2. Review the plan deductible.
3. Check whether your prescription drugs are covered.
4. Check your preferred pharmacies.
5. Confirm that your doctors and hospitals are in network.
6. Review copayments and coinsurance.
7. Check the plans annual out-of-pocket maximum and other benefits.

Medicare Plan Finder for 2027

CMS says Medicare.govs Plan Finder can be used to compare Medicare health and prescription drug plans, including premiums, costs, benefits and other coverage information.

CMS has also added improvements to the Medicare website and Plan Finder to make it easier for beneficiaries to review provider information, plan documents, formularies and changes affecting their current coverage.

What Happens If You Want to Keep Your Current Plan?

If your current Medicare coverage is still being offered for 2027 and you are satisfied with the changes to your plan, you generally do not need to take action to remain enrolled.

However, CMS recommends reviewing the information sent by your plan before deciding to stay. Your plan may have changed its premium, benefits, provider network, pharmacy network or prescription drug coverage.

Medicare Part D and Prescription Drug Changes

Prescription drug coverage can change from year to year. Beneficiaries should check whether their medicines remain covered under their current Part D plan and whether the plans cost-sharing requirements have changed.

Pharmacy networks can also affect what a beneficiary pays for prescription medicines. Before choosing a plan, check whether your preferred pharmacy is included and whether the plan offers preferred pharmacy pricing.

Can Medicare Help With Prescription Drug Costs?

People with limited income and resources may qualify for programs that can reduce Medicare costs.

Medicare Savings Programs may help eligible people pay Medicare premiums and may also help with deductibles, coinsurance and copayments.

The Extra Help program can help qualifying people with Medicare Part D premiums, deductibles, coinsurance and other prescription drug costs.

Important Medicare Open Enrollment Mistakes to Avoid

• Do not choose a plan based only on the monthly premium.
• Do not assume your current prescription drugs will remain covered.
• Do not assume your preferred doctor will remain in network.
• Do not ignore your Annual Notice of Change.
• Do not wait until the last day to compare your options.
• Do not confuse Medicare Advantage premiums with the Part B premium.
• Do not rely on unofficial websites for your final enrollment decision.

2027 Medicare Open Enrollment Checklist

Frequently Asked Questions

Official Government Information

The information in this article is based primarily on the latest information released by the Centers for Medicare & Medicaid Services (CMS). Beneficiaries should check official Medicare resources before making an enrollment decision because individual plan availability and costs vary.