Here’s a twist for 2027: if you’re in a stand-alone Medicare drug plan that charges you nothing today, that deal is about to disappear. KFF found there will be no $0-premium stand-alone Part D plans next year for people outside the Extra Help program, even as average Medicare Advantage premiums are projected to fall 16.5%.
That split is exactly why Medicare open enrollment 2027 matters more than usual. The sign-up window opens Oct. 15, and the federal government released its first look at next year’s plans on Sept. 28. Here’s what changed, who wins, who pays more and how to shop smart.
Quick note: this article is for general information only and is not financial or insurance advice.
Medicare Open Enrollment 2027: Key Dates and What You Can Change
Medicare open enrollment 2027 runs from Oct. 15 through Dec. 7, 2026, according to the Centers for Medicare & Medicaid Services (CMS). Any change you make takes effect Jan. 1, 2027.
During this window, you can:
- Switch from Original Medicare to Medicare Advantage, or the reverse
- Move from one Medicare Advantage plan to another, with or without drug coverage
- Join, drop or switch a stand-alone Part D prescription drug plan
According to CMS, people who want to keep their current coverage generally don’t need to re-enroll. But “happy last year” isn’t the same as “best deal next year,” and 2027 is a year when that difference could cost you.
Medicare Advantage: Premiums Fall to $12 a Month on Average
The headline number is good news. In its Sept. 28 announcement, CMS projected that the weighted average monthly Medicare Advantage (MA) premium will drop from $14.37 in 2026 to $12.00 in 2027, a decline of 16.5%.
For MA plans that include drug coverage, the average Part D portion of the premium is projected to fall from $11.32 to $7, a 38% drop after insurers apply rebates.
Other key MA numbers from CMS:
- Plan count: about 5,532 plans nationally, down slightly from 5,553
- Access: more than 99% of beneficiaries can get at least one MA plan, and 97% will have 10 or more options
- Enrollment: projected at 34 million, roughly 47.4% of people on Medicare
- Stability: about eight in 10 MA members can keep their current plan at the same or a lower premium
- Extras: CMS expects supplemental benefits like dental, vision and hearing to remain stable
“We urge beneficiaries to use Open Enrollment as an opportunity to review their coverage, compare options, and pick the plan that best suits their needs and budget,” CMS Administrator Dr. Mehmet Oz said in the release.
Some people will have to switch plans anyway
A KFF analysis cited by the Medicare Rights Center found the average beneficiary can choose from 35 MA plans in 2027, down from 39 in 2026. That smaller menu means some people’s current plans won’t be available next year. They may be moved into another plan from the same insurer, which is why reading your plan mail matters.
Stand-Alone Part D: Why “Less Than $1” Isn’t the Whole Story
If you have Original Medicare, you likely get drug coverage through a stand-alone prescription drug plan (PDP). CMS projects the average total PDP premium will rise from $35.09 to $36.00 a month, an increase of less than $1.
CMS also says 88% of beneficiaries without low-income help will have access to a basic plan for $10.30 or less, and 93% can get an enhanced plan for under $6 a month.
That sounds calm. But averages hide a lot. According to KFF’s Juliette Cubanski, as reported by AARP:
- The number of stand-alone drug plans will drop about 13%, from 360 to 312
- There will be no $0-premium stand-alone plans for people not in Extra Help
- About 28% of Original Medicare enrollees outside Extra Help were in a $0-premium plan in 2026. “They will all face higher premiums in 2027,” Cubanski said
Cubanski’s advice was simple: “The bottom line is that it will pay to shop around,” and look beyond the premium to other benefit changes.
Why the shake-up?
A big factor is the end of the Part D Premium Stabilization Demonstration. CMS created the voluntary program to cushion premium swings after the Inflation Reduction Act redesigned Part D. In July, CMS announced it would end the demonstration after 2026.
The subsidies cost $9.8 billion over two years, according to AJMC, citing KFF. CMS calls the move a return to “normal market conditions” and says it won’t have to rely on what Oz described as “handouts to big insurance companies.” Critics, including KFF, warned that some stand-alone enrollees could see bigger premium increases than in recent years as a result.
The Bigger Drug Cost Changes for 2027
Premiums are only part of what you’ll pay. Several other Part D numbers shift in 2027:
| Part D feature | 2026 | 2027 |
|---|---|---|
| Annual out-of-pocket cap | $2,100 | $2,400 |
| Maximum standard deductible | $615 | $700 |
| National base beneficiary premium | $38.99 | $41.33 |
The out-of-pocket cap, created by the 2022 Inflation Reduction Act, is still a huge protection. Once your spending on covered drugs hits $2,400 in 2027, you pay nothing more for covered drugs the rest of the year. But if you take expensive medications, budget for up to $300 more than this year.
Lower prices on 15 negotiated drugs
There’s good news for some prescriptions. The second round of Medicare drug price negotiation covers 15 drugs starting in 2027, including Ozempic, Rybelsus and Wegovy, Trelegy Ellipta, Xtandi and Janumet, according to Kiplinger, citing CMS. The negotiated 30-day price for the semaglutide drugs is $274, down from $959 in 2024. What you actually pay still depends on your plan’s design.
If you take a GLP-1, it’s worth knowing how these drugs are evolving. We explored why they work for some people and not others in our story on new genetic research on GLP-1 weight loss drugs.
The Missing Number: Your 2027 Part B Premium
One important cost hasn’t been released yet. The Medicare Rights Center notes that the 2027 Part B premium has not been announced, and it applies to people in both Original Medicare and Medicare Advantage.
The 2026 standard Part B premium is $202.90 a month. The 2026 Medicare Trustees Report projected $209.50 for 2027, according to the Military Officers Association of America, but the official figure typically comes out in November.
Part B is usually deducted from Social Security checks, so it interacts with next year’s cost-of-living adjustment. Inflation is still running hot, as we covered in our August PCE inflation report, which helps explain why premiums and drug costs keep creeping up. And with consumer confidence at a 12-year low, a few hundred dollars saved on a plan can matter a lot.
Your Medicare Open Enrollment 2027 Checklist
Don’t put your coverage on autopilot during Medicare open enrollment 2027. Work through these steps before Dec. 7:
- Read your Annual Notice of Change (ANOC). Your MA or Part D plan sends this each fall, typically by the end of September. It lists changes to premiums, copays, deductibles and covered drugs for 2027.
- Check your drug list. Make sure every medication you take is still on the plan’s formulary, at what tier and with any new prior authorization or step therapy rules.
- Confirm your pharmacy and doctors. Networks change. Verify that your preferred pharmacy, primary doctor and key specialists are still in network for 2027.
- Use Medicare Plan Finder. The tool at Medicare.gov compares total estimated costs, not just premiums. CMS says it will now link directly to formularies and plan summaries and flag changes to your current plan.
- Compare total cost, not just premium. A $0 premium plan with high copays can cost more than a plan with a modest monthly fee.
- See if you qualify for help. Medicare Savings Programs and Extra Help can lower premiums and drug costs for people with limited income and resources.
- Mark Dec. 7 on your calendar. Miss it, and your options for changing 2027 coverage get much narrower.
Medicare Open Enrollment 2027 Help: Free Counselors and Scam Red Flags
You don’t have to figure this out alone, and you shouldn’t have to pay for help.
- SHIP counselors: Every state has a State Health Insurance Assistance Program offering free, unbiased one-on-one help. Find yours at shiphelp.org.
- 1-800-MEDICARE (1-800-633-4227): Available 24/7, per CMS.
- Medicare Rights Center helpline: 800-333-4114, Monday through Friday.
The Medicare Rights Center has warned that aggressive marketing tactics can make plan choices harder. Open enrollment is also prime time for fraud. Protect yourself:
- Never give your Medicare number to an unsolicited caller or door-to-door visitor
- Be wary of TV ads and mailers that look official but are from private companies
- Medicare won’t call to sell you a plan or threaten to cancel your coverage
- If someone pressures you to switch “today,” hang up and call SHIP or 1-800-MEDICARE
The Bottom Line
Medicare open enrollment 2027 brings a split picture. Medicare Advantage premiums are falling on average, and most MA members can stay put at the same or lower cost. But stand-alone drug plan shoppers face fewer choices, the end of $0-premium plans and a higher out-of-pocket cap.
Your move: pull out your ANOC this week, list your medications and run a Plan Finder comparison before Dec. 7. Thirty minutes now could save you hundreds next year. Stay with USA One News for the official 2027 Part B premium and the Social Security COLA announcement on Oct. 14.
