Medicare Drug Plans Are Hiking Premiums While Trump Claims Victory on Medicine Prices

Millions of Medicare enrollees who buy stand-alone prescription drug plans will see their average monthly premiums rise by 50% in 2027, a new analysis finds. But enrollees can avoid the average increase — from $34 a month to $51 — by switching to lower-cost plans during the program’s open enrollment period, which runs through Dec. 7. Robert Travis Scott of Abingdon, Virginia, did just that in late October after he received a notice that his AARP-UnitedHealthcare Medicare drug plan premium would be increasing from $39.60 a month in 2026 to $121.90 in 2027. With just a little work checking prices online, Scott found a Humana plan for $19.30 with similar benefits. “Yes, I am quite happy about that,” he said of the new plan he just found. He said he was stunned his existing plan was going up so much and worried that other seniors won’t shop for plans to save money. He estimates he saved himself about $1,000 for next year. “With some plans increasing premiums substantially, the stakes are higher this year for people with Medicare stand-alone drug coverage if they sit on the sidelines during open enrollment,” said Juliette Cubanski, a vice president and the director of the Program on Med...