Medicare Advantage Drug Coverage Is Changing for 2027 — 8 Medications Worth Checking Before You Enroll

Medicare’s negotiated prices for 15 additional medications take effect in 2027, but individual prescription costs will still vary by plan. Retirees should check formularies, deductibles, and pharmacy networks before enrolling. amenic181/Shutterstock

Your Medicare Advantage plan covered your prescriptions throughout 2026, so you might assume the same medications will cost roughly the same next year. Unfortunately, that assumption could lead to an expensive surprise at the pharmacy.

Medicare prescription drug coverage is changing for 2027, including new negotiated prices for 15 high-cost medications and adjustments to annual out-of-pocket limits. Meanwhile, individual insurance plans can change their formularies, drug tiers, and pharmacy arrangements.