Medicare Advantage plans will be cheaper next year. Here’s the new cost.

Medicare beneficiaries can change their coverage during open enrollment, which begins Oct. 15 Medicare Advantage currently controls more than half of the overall Medicare market of roughly 69.6 million subscribers. Subscribers to Medicare Advantage, the private alternative to traditional Medicare, will see monthly costs drop in 2027, and people with stand-alone prescription-drug coverage will see their premiums rise by less than $1. The weighted average monthly premium across all Medicare Advantage plans, including plans with prescription-drug coverage and special-needs plans, is projected to decrease 16.5% to $12 in 2027, down from $14.37 in 2026, according to the Centers for Medicare & Medicaid Services.

Supplemental offerings, including hearing, dental and vision benefits, are expected to remain stable. Video 91/1 Skip Ad Continue watching after the adVisit Advertiser websiteGO TO PAGE Kevin Rudd on China, AI and U.S. Relations Play video: Kevin Rudd on China, AI and U.S.

Relations Meanwhile, the total average monthly Part D premium for stand-alone prescription-drug plans is projected to increase to $36 from $35.09, CMS said. Don’t Short Yourself offers weekly money tips to help you earn it, stack it and grow it. I agree to the Terms of Use, Privacy Notice and Cookie Notice.

I would like to receive updates and special offers from Dow Jones and affiliates. I can unsubscribe at any time. The projected costs come as Medicare’s open-enrollment period is set to begin: It starts Oct. 15 and run through Dec. 7.

During that time, people can switch from traditional Medicare to a private Medicare Advantage plan, change from one Medicare Advantage plan to another, and join or change a Medicare Part D prescription-drug plan. The changes go into effect on Jan. 1. Medicare Advantage currently controls more than half of the overall Medicare market of roughly 69.6 million subscribers.

Medicare Advantage plans offer extra benefits such as vision and dental coverage and cap annual out-of-pocket costs but have a limited choice of doctors and extra requirements for specialist referrals. More than 99% of Medicare beneficiaries will have access to at least one Medicare Advantage plan in 2027, while 97% will have access to 10 or more options. The total number of available Medicare Advantage plans nationally is expected to remain relatively stable, dropping to 5,532 in 2027 from 5,553 in 2026, CMS said.