What's Changing for Medicare in 2027

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.

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.

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.

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.

CMS finalized the Contract Year 2027 Medicare Advantage and Part D rule on April 2, 2026, removing the 48-hour wait between signing a Scope of Appointment and a plan-specific sales call, restructuring Star Ratings, and tightening supplemental benefit card rules. Separately, the finalized MA payment increase came in at 2.48% — about $13 billion — after an initial proposal of 0.9%.

Members whose Medicare Advantage or Part D plan is not renewing receive a Notice of Termination by October 2 instead of an Annual Notice of Change. That letter starts a Special Enrollment Period running December 8 through February 28 — and a separate Medigap guaranteed-issue window that closes around March 4.

CMS finalized a 2.48% Medicare Advantage payment increase for 2027, but brokers reviewing preliminary plan filings report another year of broad benefit reductions. The early signals include dental cuts, higher specialist copays, drug cost-sharing changes, and smaller Part B premium givebacks.

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.