Medicare’s annual open enrollment runs from October 15 to December 7, and for 2027 the headline numbers look friendly: the average Medicare Advantage premium is projected to fall to about $12 a month, down from $14.37 in 2026, according to CMS. But averages hide the real story this year — hundreds of plans are changing or disappearing.
Medicare Advantage changes for 2027
CMS projects about 34 million people will be enrolled in Medicare Advantage in 2027. Premiums for plans that include drug coverage are falling, while stand-alone Part D drug plans edge up to about $36 a month on average. At the same time, major insurers are trimming their footprints: reports count roughly a million members in plans being withdrawn, Florida, Ohio and Illinois lose the most plans, and KFF found about 638,000 beneficiaries in 193 counties will have no general Medicare Advantage drug plan offered in their county next year.
Check your Annual Notice of Change
Every fall your plan mails an Annual Notice of Change (ANOC). This year, read it closely for: a higher premium or deductible, a bigger out-of-pocket maximum, your doctors or hospital leaving the network, your prescriptions moving to a costlier tier, new prior-authorization rules, or trimmed extras like dental, vision and over-the-counter allowances. If you received a non-renewal notice, your plan is ending — you must pick new coverage during open enrollment, or use the special enrollment period that runs through February.
How to compare before Dec. 7
List your doctors, hospitals and prescriptions, then compare total yearly cost — premiums plus copays and drug costs — not just the monthly premium, using Medicare’s Plan Finder. Free one-on-one help is available from your State Health Insurance Assistance Program (SHIP) or by calling 1-800-MEDICARE. And be wary of unsolicited calls promising free benefits or asking for your Medicare number; enrollment season is peak season for scams.
More money coverage in our Finance section. Background: Medical Daily on 2027 premiums and plan exits.
