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Medicare unveils 2027 rates for private Medicare, Part D plans - USA Today
WorldBy Ken Alltucker9/28/20261 min read
Millions of older Americans on private Medicare could see lower monthly prices on their private Medicare plans. Stand-alone drug plans will increase.
✨ Key Highlights
- CMS announced that the average monthly premium for stand-alone Part D prescription drug plans will rise to $36 in 2027, up less than $1 from $35.09 in 2026.
- Medicare Advantage plans, which bundle medical and drug coverage, will average $12 monthly in 2027, down from $14.37 in 2026, with roughly eight in 10 enrollees able to keep their current plan at the same or lower premium.
- Insurers must notify enrollees of changes to premiums, drug coverage, and provider networks by Sept. 30, while Medicare open enrollment runs from Oct. 15 through Dec. 7 for coverage beginning Jan. 1, 2027.
- The number of Medicare Advantage plans nationwide stayed steady at 5,553 in 2026 and 5,532 in 2027, and CMS said 97% of enrollees will have access to 10 or more plan options.
- John Brooks, CMS director of Medicare, said the market's stability and lower costs mean beneficiaries should have good options, but experts warned that some Part D plans may cut costs by trimming drug formularies or raising cost sharing.
- Juliette Cubanski of KFF noted insurers may keep premiums low while making changes "under the hood," and in July CMS said it would end a Biden-era prescription drug plan subsidy designed to lower prices.
Millions of older Americans could see lower monthly prices on their private Medicare plans in 2027 while those who have a stand-alone prescription drug plan could see monthly premiums increase less t