The Centers for Medicare & Medicaid Services (CMS) estimates the weighted average monthly premium for Medicare Advantage plans will fall more than 16% to $12 in 2027, from $14.37 in 2026. The plans cover Americans aged 65 and older and include prescription drug and special needs plans. The projection comes ahead of Medicare Open Enrollment, which runs from October 15 through December 7, 2026, and details insurers' planned premiums, deductibles, maximum out-of-pocket benefit levels and county coverage for 2027. Enrollment is projected at 34 million, or 47.4% of all Medicare enrollees, although CMS expects the final figure to be higher. Insurers have reduced offerings in less-profitable markets amid rising costs, with Humana making deeper footprint cuts than peers, according to Wall Street analysts. CMS also projects a 38% decline in average prescription drug premiums within Medicare Advantage, while standalone Part D premiums are expected to rise by less than $1 per month. More than 99% of Medicare beneficiaries will have access to at least one Medicare Advantage plan, and 97% will have access to 10 or more options.