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Medicare Advantage beneficiaries could pay less for their health insurance in 2027. The Centers for Medicare & Medicaid Services (CMS) announced that the average monthly cost of these plans would fall by 16.5% compared to 2026.
The information comes from an official statement published on September 28, ahead of the next Medicare enrollment period. However, the reduction will not be the same for everyone, since the amount each person pays depends on the purchased plan.
How much will Medicare Advantage plans cost in 2027?
According to CMS projections, the average monthly premium for Medicare Advantage will go from $14.37 in 2026 to $12 in 2027.
This represents a decrease of 16.5%, equivalent to $2.37 less per month in the average calculated by the agency.
The estimate includes different types of Medicare Advantage plans, including those that offer prescription drug coverage and those intended for people with special needs.
CMS also expects additional benefits, such as dental, vision and hearing coverage, to remain stable during 2027.
Who could pay less for Medicare in 2027?
According to CMS, approximately 8 out of 10 people who already have Medicare Advantage will be able to keep their current plan with an equal or lower premium in 2027.
This means that a large share of beneficiaries could maintain their coverage without facing an increase in that monthly payment.
However, the savings will depend on each plan’s conditions. Therefore, those with Medicare Advantage will need to review how much their coverage will cost during the coming year.
The agency also anticipated that more than 99% of Medicare beneficiaries will have access to at least one Medicare Advantage plan, while 97% will have ten or more options available.
What will happen to Medicare plans that cover prescription drugs and medication?
The official statement released by the authorities also includes projections for insurance plans that offer prescription drug coverage.
In Medicare Advantage plans that include medication, the average monthly premium for that coverage could fall from $11.32 in 2026 to $7 in 2027, a 38% reduction, after applying the discounts provided for in the program.
By contrast, for standalone drug plans under Medicare Part D, CMS projects a small increase.
In these cases, the average monthly premium would go from $35.09 to $36, that is, an increase of less than $1 per month.
When does Medicare enrollment for 2027 begin?
The Medicare open enrollment period will begin on October 15, 2026 and end on December 7, 2026.
During those dates, beneficiaries will be able to review the coverage options available for 2027 and compare their prices and benefits.
CMS recommends paying attention to changes in each plan, since premiums, costs and benefits may vary from one year to the next.
To check the available alternatives, interested parties can go to Medicare.gov and use the plan finder, which allows them to compare medical and drug coverage.
Those who want to keep their current coverage generally do not need to enroll again, although the agency recommends reviewing the conditions to know how much they will pay in 2027.