The short answer: On September 28, 2026, the Centers for Medicare & Medicaid Services (CMS) said the average monthly premium for Medicare Advantage plans is projected to fall from $14.37 in 2026 to $12.00 in 2027, a drop of 16.5 percent. Stand-alone Part D drug plans are projected to rise by less than $1. These are national averages. Your own plan may cost more or less. Open Enrollment runs October 15 to December 7, 2026.
What CMS Announced
- Medicare Advantage premiums: a projected average of $12.00 a month in 2027, down from $14.37 in 2026 (16.5 percent lower).
- Part D drug coverage inside Medicare Advantage plans: a projected average of $7 a month, down from $11.32 (38 percent lower).
- Stand-alone Part D plans: a projected average of $36 a month, up from $35.09, an increase of less than $1.
- Plan choices: 5,532 Medicare Advantage plans in 2027, compared with 5,553 in 2026. CMS says more than 99 percent of people with Medicare can choose at least one Medicare Advantage plan, and 97 percent have 10 or more.
- Extra benefits: CMS expects hearing, dental and vision benefits to remain stable.
- Enrollment: CMS estimates 34 million people, or 47.4 percent of people with Medicare, will be in a Medicare Advantage plan.
(Source: CMS press release, September 28, 2026.)
What About Drug Plan Premium Help?
CMS says the Part D program is returning to normal market conditions as the Part D Premium Stabilization Demonstration winds down. The agency says the demonstration was narrowed for 2026 and is planned to end in 2027. (Source: CMS.) In plain words, check your drug plan's 2027 premium. Do not assume it will stay the same.
Why Averages Do Not Tell You What You Will Pay
These are national, projected averages. Plans differ by county, and Florida has many choices. A low premium can come with higher copays, a different list of covered drugs or a smaller network of doctors. Before you decide, check these three things for each plan:
- Your drugs: are they covered, and at what cost?
- Your doctors and hospital: are they in the plan's network?
- Your total yearly cost: premium plus deductible, copays and the most you could pay out of pocket.
Key Dates
- October 15, 2026: Medicare Open Enrollment begins.
- December 7, 2026: Open Enrollment ends. Changes you make take effect in January.
You can compare 2027 plans at Medicare.gov or by calling 1-800-MEDICARE (1-800-633-4227).
If Your Plan Is Ending
If your Medicare Advantage plan is not coming back in 2027, you will need a new one. Read what to do when your Medicare Advantage plan is ending. For the full list of what is changing, see our Medicare Open Enrollment 2027 guide, and for the basics, read Understanding Medicare Options in Florida.
Get Free, Unbiased Help in Florida
SHINE (Serving Health Insurance Needs of Elders) counselors are trained volunteers who explain Medicare for free and do not sell plans. Call the Florida Elder Helpline at 1-800-96-ELDER (1-800-963-5337). Read how to get a SHINE counselor, and find free sessions on our events calendar. Be careful of sales calls during this season; see our Medicare season scam alert.
Disclaimer: This article is for informational purposes only and does not constitute medical, financial, or legal advice. Readers should consult a qualified healthcare provider for medical concerns, a financial advisor for financial planning, and an attorney for legal matters. The resources and programs mentioned are subject to eligibility requirements and availability, which may vary. While we strive for accuracy, the information provided may not reflect the most recent updates. Always verify details with official sources or professionals before making decisions based on this content.