Medicare drug price negotiations provide additional support for 2027

Medicare Open Enrollment for 2027 will see many changes for the coming year. It is important that Medicare recipients review their current plan for changes during the open enrollment period. (Wix file photo)

K-State Research and Extension News for October, 2026

Submitted by Kathy Goul, Family & Consumer Science Agent

Medicare Open Enrollment for 2027 is here and with it comes some good news. Medicare is continuing its drug negotiation program, adding 15 new prescription drugs for the coming year. The number of negotiated drugs grows over time, bringing the total number of negotiated drugs to 25. Some of the new medications this year include popular diabetes medications as well as two frequently prescribed inhalers. While medications from previous years stay in the program, prices may be adjusted for inflation.

All Medicare prescription drug plans, including Medicare Advantage drug plans, are required to cover drugs selected for Medicare price negotiations. This means all beneficiaries will have access to the negotiated lower prices. The Centers for Medicare & Medicaid Services (CMS) will also review plan formularies to ensure insurers do not create barriers that could limit access to these lower-cost drugs.

Keep in mind, this good news does not mean you should not take the time to review your Medicare Part D plans or your Medicare Advantage plans. This year comparing your plans is more important than ever. Eleven of the stand-alone Part D plans are increasing their premiums, $0 monthly premiums are no longer available and all plans have a deductible in 2027.

Several changes are also taking place with Medicare Advantage plans.  One company will no longer offer plans to area residents, maximum out-of-pocket costs have increased for several plans and all Medicare Advantage plans will have a deductible for prescriptions ranging from $400 to $700, depending on the plan. It is also important to review additional benefits, such as dental & vision coverage, to see what changes may be in store for the coming year.  Several plans reduced benefits for 2026, catching many beneficiaries by surprise.  Co-pays for services received may also be changing for the coming year, as well as doctor & facility networks.

Each year I encourage Medicare beneficiaries to review your prescription drug coverage during open enrollment (October 15 – December 7).  To review your current coverage and compare plans for the coming year, individuals can visit medicare.gov and use the plan finder. This tool walks you through the steps of comparing your current plan to the plans available for next year. K-State Extension provides free, unbiased assistance to help with your plan comparisons through a partnership with the state Senior Health Insurance Counseling for Kansas (SHICK) program. 

Individuals seeking help with plan comparisons can pick up an intake form at our Paola office, located at 913 N. Pearl Street, Suite #1, or our Mound City office, located at 115 S. 6th Street.  The intake form can also be found on our website at www.maraisdescygnes.k-state.edu.  Once this form is completed and returned to the office, we will contact you to help you with your plan comparison.

For more information about open enrollment and how we can help, visit our website at www.maraisdescygnes.k-state.edu or call our Paola office at 913-294-4306.