Medicare beneficiaries will see prescription drug costs rise sharply in 2027. Projections point to an increase of about 50% compared with current levels.
The jump stems from changes in how the program shares costs between the government and insurers. Those shifts will reach beneficiaries through premiums and out-of-pocket expenses.
Open enrollment is the main window to review coverage before the changes take effect. Beneficiaries who take no action risk staying in a plan that no longer fits their needs.
Drug plans vary widely in premiums, deductibles, and covered medications. A plan that was affordable this year may cost significantly more in 2027.
Comparing options during open enrollment can limit unexpected expenses. Reviewing the list of covered drugs is especially important for people with ongoing prescriptions.
Beneficiaries should check notices from their current plans for details on upcoming changes. Plans typically send information on premium and coverage adjustments before enrollment begins.
Small adjustments made during open enrollment can protect against larger costs later. Waiting until the last minute leaves little time to compare plans and confirm doctors and pharmacies remain in network.
