Medicare Prescription Changes 2027
If you have a Medicare Part D Prescription Plan or Medicare Advantage Plan (Part C), you should receive an Annual Notice of Change (ANOC) Letter for your plan in 2027. The ANOC letters have to be out to everyone by October 1st, so be looking for them. There are some overall changes Medicare (CMS) has approved that you should be aware of. Here are some excerpts from Medicare and You 2027, which you may have received in hard copy form.
Section 6: Medicare drug coverage (Part D)
Yearly deductible: This is the amount you must pay before your plan begins to pay its share of your covered drugs. Some plans don’t have a deductible. In some plans that do have a deductible, drugs on some tiers are covered before the deductible. If your plan has a deductible for drug coverage, it will be no more than $700 in 2027.
Out-of-pocket limit on drug costs: In 2027, your out-of-pocket costs for covered drugs are capped at $2,400. Once you (or other people or programs on your behalf, like Medicare’s Extra Help) reach this limit, you’ll pay $0 for your covered Part D drugs for the rest of the year.
Note: If you get Extra Help, you won’t have some of these Part D costs (pages 96–98).
Part D coverage for insulin: Part D covers insulin, including injectable insulin (insulin you inject with a pen or a needle), insulin that’s inhaled, and insulin used with pumps that aren’t durable medical equipment (like patch pumps, reusable pumps that use disposable insulin cartridges, or infusion pumps). It also covers certain medical supplies used to inject insulin, like syringes, gauze, and alcohol swabs. Covered insulin products are included on your plan’s formulary. Important! Plans can’t charge you more than $35 for a one-month supply of each Part D-covered insulin you take, and you don’t have to pay a deductible for insulin. Similar cost limits apply for traditional insulin used in Part B-covered insulin pumps. Visit Medicare.gov/coverage/insulin to learn more.
There are No Changes to Medicare Supplement (Medigap) Benefits for 2027. If you have a Medicare Supplement Plan, it is Guaranteed Renewal as long as you have paid your premium. Renewal rates usually happen on your enrollment anniversary, and you are notified of the rate increase about 60 days ahead of time. All of the Medicare Supplement Companies have had greater percentage increases in the last few years, unfortunately. It is a sign of Healthcare Increases across the board.
As always, I am here to help, but please give me grace in the Crazy AEP Season!
Teri Basch
Certified Medicare Educator and Independent Insurance Agent
704-270-6766
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