Medicare Open Enrollment Begins As Major 2027 Policy Changes Loom
Medicare open enrollment opened Thursday, October 15, 2026, and will run through December 7 for coverage that takes effect January 1, 2027.[1]
The enrollment period starts as major 2027 changes could raise costs for some beneficiaries, including higher Part D limits and the end of a temporary premium subsidy.[1] New Medicare-negotiated prices for 15 drugs will also take effect January 1, 2027, changing coverage and copays for many prescriptions.[1]
In 2027 the Medicare Part D out-of-pocket cap will increase to $2,400 from $2,100, and the standard deductible will rise to $700 from $615. A temporary Medicare Part D premium subsidy established in 2024 will end at the close of 2026. New negotiated prices include drugs such as Ozempic, Rybelsus, Wegovy, Trelegy Ellipta and Xtandi. The Centers for Medicare & Medicaid Services expects the changes to lower Medicare prescription drug spending by about $685 million in 2027.
The Social Security Administration has announced a 3.6% cost-of-living adjustment beginning in 2027, adding roughly $75 per month for nearly 72 million Social Security beneficiaries and about 7.3 million Supplemental Security Income recipients. President Donald Trump has pledged one-time $90 payments in October 2026 to help more than 20 million Medicare enrollees with Part B premiums, at an estimated cost of about $2 billion. Roughly 35 million Medicare Advantage enrollees and many low-income and disabled beneficiaries will not be eligible for the $90 rebate, and about 1 million people are slated to receive $500 Affordable Care Act premium rebates.
Beneficiaries should review plan formularies, premiums and total out-of-pocket costs during open enrollment to avoid surprises next year. More information and plan comparison tools are available on Medicare.gov.
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📌 Key Facts
- Medicare open enrollment runs from October 15 through December 7, 2026, for coverage that will take effect January 1, 2027.
- In 2027 the Medicare Part D out-of-pocket cap will increase to $2,400 from $2,100, and the standard deductible will rise to $700 from $615.
- A temporary Medicare Part D premium subsidy established in 2024 under the Biden administration will end at the close of 2026 under the Trump administration.
- New Medicare-negotiated prices for 15 drugs, including Ozempic, Rybelsus, Wegovy, Trelegy Ellipta, Xtandi, and others, will take effect for Medicare coverage on January 1, 2027.
- CMS expects the new drug pricing changes to lower Medicare prescription drug coverage spending by $685 million in 2027.
- The Social Security Administration has announced a 3.6% cost-of-living adjustment beginning in 2027, adding about $75 per month for nearly 72 million Social Security beneficiaries and about 7.3 million SSI recipients.
- President Donald Trump has pledged one-time $90 payments in October 2026 to help more than 20 million Medicare enrollees with Part B premiums, at an estimated cost of about $2 billion.
- Roughly 35 million Medicare Advantage enrollees and many low-income and disabled beneficiaries will not be eligible for the $90 Medicare rebate, and about 1 million people are slated to receive $500 Affordable Care Act premium rebates.
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