Medicare Premiums Look Steady for 2027. Is Your Coverage Still a Good Fit?

A reassuring Medicare headline can make it tempting to put your renewal paperwork aside. But before you assume next year’s coverage will work just like this year’s, ask one question: What is changing in my plan?

The latest national projections offer encouraging news about premiums. They also give us a good reason to look more closely at our individual coverage.

What the 2027 numbers tell us

In its September 28 announcement, the Centers for Medicare & Medicaid Services projects that the average monthly premium for stand-alone Part D prescription drug plans will move from $35.09 in 2026 to $36 in 2027. The weighted average Medicare Advantage plan premium is projected to fall from $14.37 to $12.

Those are national averages—not price guarantees for your plan. This announcement concerns Medicare Advantage and Part D plan premiums; it does not establish your total Medicare expenses or your Part B premium.

Why some people may still pay more

AARP’s September 29 report highlights a different side of the story: individual experiences can vary considerably. It reports that the number of stand-alone Part D plans will decline nationally and that some members will face premium increases even while the overall average changes very little.

AARP also reports that no stand-alone Part D plans will offer a $0 premium in 2027 for people who are not receiving Extra Help.

For someone with Original Medicare and a separate drug plan, that makes an annual review particularly valuable. A familiar plan name or a small premium change should be the beginning of the conversation—not the end.

Compare the cost of using your coverage

When I help someone evaluate Medicare options, the goal is to understand how coverage fits their actual life.

Start with these questions:

- Prescriptions: Are your current medications covered, and what will you pay for each refill?

- Pharmacies: What does the plan estimate you will spend at the pharmacy you actually use?

- Medical care: For Medicare Advantage, are your preferred doctors and hospitals participating?

- Cost sharing: What will you owe when you visit a specialist, need testing, or receive hospital care?

- Plan changes: What does your Annual Notice of Change say about next year’s costs and benefits?

Consider two plans: one has a lower monthly premium, while the other has lower costs for the prescriptions you refill throughout the year. Comparing twelve months of premiums plus estimated medication expenses can reveal a very different picture from comparing the monthly price alone.

The same thoughtful approach applies to medical coverage. Your budget, access to care, and comfort with potential expenses all deserve attention.

Give yourself time to review

Medicare’s Annual Election Period runs October 15 through December 7, 2026, for reviewing and changing Medicare Advantage and Part D coverage for the coming year.

Gather your current plan information, medication names and dosages, preferred pharmacy, and doctors before your appointment. That gives us a practical starting point for comparing your options.

A review does not have to result in a change. Sometimes the most useful outcome is understanding why your current coverage still makes sense.

Let’s review your Medicare coverage together

Before you renew for 2027, schedule a personalized Medicare review with me. We can discuss your needs, examine the options I offer in your area, and help you make an informed decision.

There is no cost for my advisory services. My approach is grounded in Christian values: listening carefully, treating you with respect, and putting your needs first.

Visit MichaelBinnsInsurance.com/contact to reach out and request your Medicare review. You can also contact me directly to schedule an appointment at 512-778-8099.

Sources: AARP’s September 29, 2026 report and CMS’s September 28, 2026 announcement.

Educational information only. Plan availability, costs, and benefits vary by location and plan. For information about all available Medicare options, visit Medicare.gov, call 1-800-MEDICARE, or contact your State Health Insurance Assistance Program (SHIP).