WASHINGTON, D.C. — Average premiums for Medicare Advantage and Medicare Part D prescription drug plans are expected to decline in 2026, the Centers for Medicare & Medicaid Services (CMS) announced Monday.
CMS projects the average monthly premium for Medicare Advantage plans will drop from $16.40 in 2025 to $14.00 in 2026. Prescription drug coverage will also see declines, with the average stand-alone Part D premium expected to fall from $38.31 to $34.50. For beneficiaries enrolled in Medicare Advantage plans that include prescription drug coverage, premiums are projected to decrease from $13.32 to $11.50.
“Millions of Medicare beneficiaries will continue to have access to a broad range of affordable coverage options in 2026,” said CMS Administrator Dr. Mehmet Oz. “We want every beneficiary to take advantage of Open Enrollment—compare your options and choose the plan that gives you the right care at the best price.”
While premiums fall, overall enrollment in Medicare Advantage is projected to dip slightly from 34.9 million in 2025 to 34 million in 2026. CMS, however, expects actual enrollment to remain stable, with more than 99 percent of beneficiaries retaining access to a plan. Nearly all beneficiaries will have at least 10 choices, though the total number of plans nationwide will decline modestly to about 5,600.
The agency noted that new measures are being introduced to improve plan comparisons on Medicare.gov during the upcoming Open Enrollment, which runs from October 15 to December 7. Features include provider network filters, more detailed information on supplemental benefits, enhanced account security, and an AI-powered prescription cost estimator.
CMS emphasized its recent efforts to rein in prescription drug costs, including rejecting stand-alone Part D bids that carried sharp premium hikes or reductions in benefits. Nearly all current stand-alone Part D enrollees will have access to plans participating in CMS’s premium stabilization program for 2026.
Medicare beneficiaries are encouraged to review their coverage options during the enrollment period, as plan benefits and costs may change year to year.
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