Medicare 2027: Open Enrollment Starts October 15, with Lower Medicare Advantage Premiums Projected

If you have Medicare, mark these dates: open enrollment for 2027 runs from Thursday, October 15, to Monday, December 7, 2026. During these nearly eight weeks, you can review your coverage, compare it with other plans, and switch if it’s beneficial to you.

• The Centers for Medicare and Medicaid Services (CMS) projects that the average monthly premium for Medicare Advantage plans will decrease from $14.37 in 2026 to $12.00 in 2027, a 16.5% drop.

Why it matters: the costs and benefits of plans change every year. A plan that was suitable for you in 2026 may cost more or cover fewer medications in 2027.

What’s changing in premiums for 2027?

According to the projections CMS released on September 28:

• Medicare Advantage (Part C): average monthly premium of $12.00 in 2027, compared to $14.37 in 2026.
• Medications within Medicare Advantage: the portion of the premium corresponding to medications would decrease from $11.32 to $7 per month, a 38% reduction.
• Stand-alone prescription drug plans (Part D): the average premium would increase by less than $1, from $35.09 to $36 per month.

CMS also indicates that 88% of non-low-income beneficiaries will have access to a basic Part D plan for $10.30 or less per month, and 93% to an enhanced plan for less than $6.

Note: these are averages. What you pay depends on the plan, the county where you live, and the medications you take.

How many plans will be available?

• More than 99% of beneficiaries will have access to at least one Medicare Advantage plan, and 97% to 10 or more options.
• The number of plans nationwide would decrease from 5,553 in 2026 to approximately 5,532 in 2027.
• About 8 out of 10 Medicare Advantage enrollees will be able to stay in their current plan with the same or a lower premium.

Do I need to re-enroll?

Not necessarily. CMS explains that those who want to maintain their current coverage generally do not need to re-enroll. However, the agency recommends reviewing the changes to your plan for 2027 before December 7.

How to compare plans

• On Medicare.gov, using the Medicare Plan Finder, you can compare premiums, costs, benefits, and covered medications.
• By phone, at 1-800-MEDICARE (1-800-633-4227), 24 hours a day, seven days a week.

Help if you have limited income

There are two programs that can lower what you pay:

• Medicare Savings Programs (MSP): can pay Medicare premiums and, in some cases, deductibles, co-insurance, and co-payments.
• Extra Help: helps pay premiums, deductibles, and co-payments for Part D. If you enroll in an MSP, you automatically qualify for Extra Help.

You can view the requirements on Medicare.gov.

Source: CMS, press release from September 28, 2026: Medicare Advantage and Medicare Prescription Drug Programs Expected to Remain Stable in 2027. The figures are CMS projections. This information is general and does not replace advice on your specific situation.