Big Medicare News for 2027: CMS Just Released New Premium Projections — Here’s What Florida Seniors Should Know
If you have Medicare in Florida, there is fresh news worth paying attention to before Annual Enrollment begins.
On September 28, 2026, the Centers for Medicare & Medicaid Services (CMS) released new national projections for 2027 Medicare Advantage and Medicare Part D premiums. The headline is encouraging: average premiums are projected to remain relatively stable or decline in several parts of the Medicare market.
But there is an important catch.
A national average does not tell you what your individual Medicare plan will cost — or whether it will still be the best fit for you in 2027.
For Medicare beneficiaries in Tampa Bay, Apollo Beach, Riverview, Brandon, Bradenton, Sarasota and communities throughout Florida's Gulf Coast, this is another reason to compare the actual 2027 plans available where you live rather than making a decision based on national headlines.
CMS Projects Lower Average Medicare Advantage Premiums for 2027
According to CMS's September 28 announcement, the weighted average Medicare Advantage premium is projected to fall by more than 16% from 2026 to 2027.
That sounds like great news — and nationally, it is certainly an encouraging projection.
However, Medicare Advantage plans are local.
The plans available to someone in Hillsborough County may be different from those available in Manatee or Sarasota County. Premiums, provider networks, prescription coverage, copays and supplemental benefits can also vary from one plan to another.
So if you hear that “Medicare Advantage premiums are going down,” don't automatically assume that means your particular plan will cost less next year.
Your individual plan documents and the 2027 options available in your ZIP code are what matter.
Medicare Advantage Drug Premiums Are Also Projected to Decline
There was another notable number in the CMS announcement.
For Medicare Advantage plans that include prescription drug coverage, CMS projects the average monthly Part D portion of the premium — after Medicare Advantage rebates are applied — will decrease from $11.32 in 2026 to $7 in 2027.
That represents a projected 38% decline nationally.
Again, this is an average.
It does not mean every Medicare Advantage Prescription Drug plan will have a $7 premium or that everyone's premium will decrease.
In fact, some Medicare Advantage plans may continue to offer a $0 monthly plan premium, while others may charge considerably more.
And remember: premium is only one part of the cost of Medicare coverage.
Stand-Alone Medicare Part D Premiums Are Projected to Remain Relatively Stable
There had been concern about what might happen to stand-alone Medicare Part D premiums in 2027 as a temporary federal premium stabilization demonstration winds down.
CMS now projects the total average monthly premium for stand-alone Part D plans to increase by less than $1 nationally — from $35.09 in 2026 to approximately $36 in 2027.
That's significantly different from assuming every beneficiary will face a major premium increase.
But once again, the national average isn't your premium.
The price of an individual Part D plan can vary, and prescription coverage should be evaluated based on much more than the monthly premium.
There Are Important Prescription Drug Changes Coming in 2027
Premiums aren't the only numbers Medicare beneficiaries should watch.
For 2027, the maximum deductible a Medicare drug plan can charge increases to $700, up from $615 in 2026.
The annual Part D out-of-pocket threshold also increases from $2,100 in 2026 to $2,400 in 2027.
Not every beneficiary will reach these amounts, and individual plans can structure their benefits differently within Medicare's rules.
Still, these are important figures for people who take expensive prescriptions.
There is also positive news for some Medicare beneficiaries who use certain high-cost medications. Negotiated Medicare prices for an additional 15 prescription drugs are scheduled to take effect January 1, 2027.
CMS says approximately 5.3 million people with Medicare Part D used these drugs in 2024. The medications are used for conditions including cancer, diabetes, asthma and other serious chronic illnesses.
Don't Choose a Medicare Plan Based on Premium Alone
This may be the most important takeaway from the new numbers.
A low premium can be attractive, but it doesn't automatically make a plan the best option for you.
When comparing Medicare plans in Florida for 2027, consider the entire picture:
Are your doctors and specialists in the plan's network?
Are your prescriptions covered?
What will you pay for your medications?
What are the specialist copays?
What would a hospital stay cost?
What is the plan's maximum out-of-pocket limit?
Which pharmacies are preferred?
What dental, vision, hearing or other supplemental benefits are included?
Do those extra benefits actually match services you expect to use?
A plan with a slightly higher premium could potentially work better for someone based on their medications and healthcare usage. Conversely, another person may find that a lower-premium option fits their needs perfectly.
There isn't one Medicare plan that's best for everyone.
Medicare Annual Enrollment Starts October 15
The timing of this CMS announcement is important because Medicare Annual Enrollment is right around the corner.
The Medicare Annual Enrollment Period runs from October 15 through December 7, 2026. During this period, people with Medicare can compare their 2027 coverage options and make certain changes to Medicare Advantage and prescription drug coverage.
Changes made during this period generally take effect January 1, 2027.
You don't necessarily need to change your plan.
Sometimes the best decision is keeping exactly what you already have.
The important part is making that decision after reviewing your 2027 coverage, rather than assuming that because your plan worked well in 2026 it will work exactly the same way next year.
What Florida Medicare Beneficiaries Should Do Now
We're still a little more than two weeks away from the October 15 start of Annual Enrollment.
That makes now a good time to get organized.
Gather your current Medicare plan information, make a list of your prescriptions, and write down the doctors and specialists you want to continue seeing.
Then, when 2027 plan comparisons are available, you can evaluate options based on the things that actually affect you.
A television commercial or national statistic can't tell you whether a particular plan covers your cardiologist in Tampa, your prescription at your preferred pharmacy in Riverview, or the hospital you prefer in Sarasota.
A personalized comparison can.
Frequently Asked Questions
Are Medicare Advantage premiums going down in 2027?
CMS projects that the national weighted average Medicare Advantage premium will decline by more than 16% from 2026 to 2027. Individual premiums vary by plan and location, so this does not guarantee that your specific premium will decrease.
What will the average stand-alone Medicare Part D premium be in 2027?
CMS currently projects a total average monthly premium of approximately $36 for stand-alone Part D plans in 2027, compared with $35.09 in 2026.
What is the Medicare Part D deductible for 2027?
The maximum Part D deductible allowed in 2027 is $700. Some plans may charge a lower deductible or no deductible.
What is the 2027 Part D out-of-pocket limit?
The Part D annual out-of-pocket threshold is $2,400 in 2027, compared with $2,100 in 2026.
When can I change my Medicare plan for 2027?
Medicare Annual Enrollment runs from October 15 through December 7, 2026.
Need Help Comparing Your 2027 Medicare Options?
The national Medicare numbers may make headlines, but your doctors, prescriptions, healthcare needs and local plan choices are what ultimately matter.
If you're in Florida and want help reviewing your Medicare coverage for 2027, My Local Coverage can help you understand your options and compare plans based on your individual needs.
Call My Local Coverage at (813) 608-0986 for personalized assistance.
