With the start of Medicare’s annual open enrollment period less than two weeks away, a new KFF analysis finds that, on average, Medicare beneficiaries will have access to 28 Medicare Advantage prescription drug plans in 2027, down from 32 plans in 2026—but still more than were available in every year before 2022.
Medicare Advantage prescription drug plan (MA-PD) availability varies substantially by state. In 26 states and Puerto Rico, beneficiaries will have at least 20 MA-PD options on average, while beneficiaries in nine states and Washington, D.C. will have fewer than 10 options. Alaska will have no MA-PD plans available for general enrollment.
A companion analysis of the stand-alone Part D prescription drug plan (PDP) marketplace finds that the number of stand-alone plans available to the average beneficiary will fall for the fourth year in a row, from 11 in 2026 to 9 in 2027. It also finds that many PDP enrollees will see premium reductions or only modestly higher premiums in 2027 if they keep their current plan, while others will face substantially higher premiums unless they switch.
Notably, there will be no zero premium PDPs available for Part D enrollees in 2027 (except low-income beneficiaries who receive extra financial help from the government.) That means that 4 million PDP enrollees who paid no monthly premium in 2026 will face higher premiums in 2027 if they keep PDP coverage.
Plan availability and premiums are only two factors that beneficiaries may need to consider in choosing either a Medicare Advantage drug plan or a stand-alone plan. Other potential factors include plan benefits, what drugs are and are not covered on the plan’s formulary, tier placement of covered drugs, deductibles, and cost-sharing requirements.
Medicare’s annual open enrollment period runs from October 15 through December 7.
