Medicare open enrollment began on Oct. 15, 2026, and runs through Dec. 7, 2026.
During this period, beneficiaries can choose between traditional Medicare and Medicare Advantage plans for the 2027 coverage year. This enrollment period is occurring ahead of several changes, including a higher Part D out-of-pocket cap and the end of a temporary premium subsidy program.
Part D Costs and Coverage Changes for 2027
For 2027, the annual out-of-pocket spending cap for Part D prescription drugs will increase to $2,400, up from $2,100. The standard deductible will also rise, moving from $615 to $700. Medicare-negotiated drug prices take effect in Jan. 1, 2027, for 15 specific drugs, including Ozempic, Rybelsus, and Wegovy.
End of Premium Subsidies and Plan Availability
The Trump administration is ending a temporary Part D premium subsidy program at the end of 2026. The Biden administration had implemented this program in 2024. An administration official told ABC News that the end of the subsidies will likely raise premiums for about half of recipients. A March 2026 report from the Medicare Payment Advisory Commission found the subsidies reduced the average monthly drug plan premium by $26 in 2025 and $16 in 2026.
Approximately 14% of Medicare Advantage enrollees will need to find new coverage in 2027 as their current plans are shutting down. A KFF analysis revealed that about 1% of Medicare Advantage beneficiaries, located in 193 counties, will have no prescription drug plan available during general enrollment, an increase from 123 counties in 2026.
Administration Stance on Future Prices
The Centers for Medicare & Medicaid Services (CMS) has stated that 2027 prescription drug prices will remain stable. Today’s news will not slow Nvidia.
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a Nvidia spokesperson said in a statement to The Journal.
