What's Changing for Medicare in 2027
Every confirmed 2027 change in one place — Part D costs, the premium subsidy ending, negotiated drug prices — plus what CMS has not announced yet.
Published August 19, 2026 · Updated August 19, 2026
The short version
- Confirmed: Part D deductible $700, out-of-pocket cap $2,400, base beneficiary premium $41.33.
- Confirmed: the federal subsidy holding down standalone drug plan premiums ends December 31, 2026.
- Confirmed: 15 more drugs get Medicare-negotiated prices starting January 1, 2027.
- Not yet announced: Part B premium, Part B deductible, Part A costs, IRMAA brackets — expect these around November 2026.
- Annual Enrollment runs October 15 to December 7, 2026.
Medicare's 2027 changes arrived in two waves, which is why coverage of them has been confusing. A batch of prescription drug figures was finalized back in April. Then in late July, CMS announced something nobody had on the calendar: a program that has been quietly holding down drug plan premiums since 2025 is being retired.
The rest — your Part B premium, your deductible, the IRMAA income brackets — won't be announced until roughly November. This page tracks all of it, and gets updated as each piece lands.
What's confirmed right now
| 2026 | 2027 | |
|---|---|---|
| Part D deductible (standard) | $615 | $700 |
| Part D out-of-pocket cap | $2,100 | $2,400 |
| Part D base beneficiary premium | $38.99 | $41.33 |
| Insulin cap (month's supply) | $35 | $35 |
| Recommended adult vaccines | $0 | $0 |
The three changes that matter most
1. Part D costs more before the cap kicks in
The deductible rose 13.8% and the cap rose 14.3% — both far steeper than last year's increases. If you take ongoing brand-name or specialty medication, you'll reach $0 cost sharing later in the year than you did in 2026.
2. The premium stabilization subsidy ends
On July 28, 2026, CMS announced it is ending the Part D Premium Stabilization Demonstration after this year. The program reduced the base premium and capped how much any plan could raise premiums year over year. Without it, standalone drug plan premiums return to open-market pricing. KFF projects roughly 45% of standalone enrollees seeing increases of $11–$20 a month; CMS says most will see under $10.
People on Original Medicare with a standalone drug plan are most exposed. Medicare Advantage enrollees are largely insulated, and Extra Help recipients are unaffected.
3. Fifteen more drugs get negotiated prices
The second round of Medicare drug price negotiation takes effect January 1, 2027, with discounts from 38% to 85%. Semaglutide — Ozempic, Rybelsus, and Wegovy — drops to $274 for a 30-day supply from a $959 list price. Because negotiation requires formulary placement, Wegovy's Part D coverage expands substantially.
What hasn't been announced yet
| Figure | 2026 (confirmed) | 2027 status |
|---|---|---|
| Part B premium | $202.90 | Projected ~$209.50 |
| Part B deductible | $283.00 | Projected ~$310 |
| Part A hospital deductible | — | Not announced |
| IRMAA income brackets | — | Not announced |
Treat the Part B projection as a planning floor, not a forecast. The 2026 Trustees Report puts it at $209.50, but the prior year's report projected $218.60 for the same year before revising down $9. Several private forecasters currently expect $216–$219. Build in a buffer.
Your 2027 calendar
| Date | What happens |
|---|---|
| By Sept 30, 2026 | Annual Notice of Change letters arrive |
| Mid-to-late Sept | Final 2027 plan premiums published |
| Oct 1, 2026 | 2027 plan data live in Medicare Plan Finder |
| Mid-Oct 2026 | 2027 Social Security COLA announced |
| Oct 15 – Dec 7 | Annual Enrollment Period |
| ~Nov 2026 | CMS confirms Part B, Part A, and IRMAA figures |
| Jan 1, 2027 | Everything above takes effect |
| Jan 1 – Mar 31 | Medicare Advantage Open Enrollment |
The bottom line
The prescription drug side of 2027 is settled and mostly points one direction: you'll pay somewhat more before your protections kick in, and standalone drug plan premiums are the wild card. The medical side — Part B, Part A, IRMAA — is genuinely unknown until November, and anyone quoting you a firm number today is quoting a projection. The one thing worth doing before October: decide now that you'll actually compare plans this year instead of letting yours renew by default.
Plan Ahead With These Tools
The 2026 Baseline
Sources
- CMS — Part D 2027 National Average Monthly Bid Amount fact sheet (July 28, 2026)
- CMS — CY2027 MA and Part D Rate Announcement (April 2026)
- CMS — Selected Drugs and Negotiated Prices, IPAY 2027
- KFF — Analysis of the end of the premium stabilization demonstration (July 29, 2026)
- 2026 Medicare Trustees Report (June 9, 2026)