Medicare unveils 2027 rates for private Medicare, Part D plans

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 than $1, according to the Centers for Medicare & Medicaid Services.

CMS said the average monthly premium for stand-alone part D prescription drug plans will be $36 in 2027, up less than $1 from $35.09 in 2026.

Monthly premiums for Medicare Advantage plans, which combine medical and prescription drug coverage, will be an average $12 in 2027, down from $14.37 in 2026, CMS said.

Insurers that offer privately administered Medicare Advantage plans and Part D prescription drug plans must notify Medicare enrollees by Sept. 30 about changes to monthly premiums, prescription drug coverage and provider networks. Enrollees can change plans during Medicare open enrollment, which runs from Oct. 15 through Dec. 7 for coverage that begins Jan. 1, 2027.

“Every year, it's good to take stock and assess whether your plan is still meeting your needs or whether there's a better option out there," said John Brooks, director of Medicare at CMS. "The stability of the marketplace and the lower cost for most beneficiaries suggests that beneficiaries should have…

Original source: https://www.usatoday.com/money/