2027 Medicare Advantage Plans: Costs and Benefits Compared by Carrier

Reviewed by Russell Noga, Licensed Medicare Insurance Broker (all 50 states) — Last updated September 1, 2026

Most comparisons of 2027 Medicare Advantage plans stop at the premium line. That’s the least useful number on the page.

What actually determines your cost is the interaction between your plan’s out-of-pocket maximum, its drug formulary tiers, and the federal Part D parameters CMS finalized in April 2026 — figures that apply to every Medicare Advantage plan with drug coverage, regardless of carrier.

This page breaks down what’s confirmed for 2027, what each major carrier brings to the cost-and-benefit equation, and how to calculate what you’ll actually pay. For the broader overview, see our 2027 Medicare Advantage plans guide, or compare plans by ZIP code to see real options in your county.

Some 2027 numbers are locked in federal rules today. Others do not exist yet and will not until November 2026. There is a meaningful difference between the two, and most articles blur it.

Plan-level detail arrives earlier than the federal figures. Premiums, provider networks, drug formularies, supplemental benefits and the 2027 star ratings for every county publish October 1, 2026 — two full weeks before Annual Enrollment opens on October 15.

If your Medicare Advantage plan includes prescription drug coverage — most do — these federal parameters apply to it. They are the single biggest confirmed cost change for 2027:

What this means in practice: once you’ve spent $2,400 out of pocket on covered prescriptions in 2027, you pay nothing more for formulary drugs for the rest of the calendar year.

The cap rose $300 from 2026, so people with high drug costs will spend somewhat more before hitting zero cost-sharing — but the ceiling still exists, which it did not before 2025.

The $700 standard deductible is the maximum a plan may charge. Many Medicare Advantage plans set a lower drug deductible, or none at all, so this is a ceiling rather than a prediction of what you’ll pay.

Five numbers determine your total cost. Premium is the one people fixate on and the one that matters least:

A useful exercise: take the plan’s medical out-of-pocket maximum, add $2,400, and add twelve months of premiums. That’s your realistic worst case for the year. Compare that number across plans, not the premium.

The rankings below reflect what each carrier structurally brings to cost and benefit decisions, based on the most recent finalized data — 2026 enrollment figures and 2026 CMS star ratings.

Carrier-level strengths are real, but they do not guarantee a good plan in your specific county. Verify locally before enrolling.

Humana held roughly 20% of Medicare Advantage enrollment in 2026, making it and UnitedHealth Group together responsible for about 46% of the entire market. Humana has historically competed on supplemental benefits — dental, vision, hearing, OTC allowances, and fitness programs.

Where it can cost you: supplemental benefits are the most volatile part of any Medicare Advantage plan and the first thing carriers trim when margins compress. Benefit reductions have been widely reported across recent plan years. Confirm each benefit you’re counting on for 2027 in writing rather than assuming it carries over.

The CY 2027 final rule modified how ratings are calculated. The changes that matter to you as a consumer:

• Eleven measures were removed — administrative process measures where nearly all plans performed identically, so they weren’t distinguishing anything.
• The Excellent Health Outcomes for All reward was discontinued, while the historical reward for consistently high performance continues.
• A new Part C depression screening and follow-up measure was added, phasing in for the 2029 Star Ratings.

Practical effect: 2027 ratings are built on a slightly different measure set than prior years, so comparing a plan’s 2027 star rating directly against its 2025 rating isn’t quite apples to apples.

Three finalized changes affect how extra benefits work:

• Plans must publicly post their eligibility criteria for Special Supplemental Benefits for the Chronically Ill. Previously these criteria were often opaque — now you can check before enrolling whether you’d actually qualify.
• Benefit debit cards require real-time eligibility verification, which reduces declined transactions at the register but means the card checks your eligibility at point of sale.
• Mid-year unused-benefit notices are no longer required. Your plan is no longer obligated to remind you about allowances you haven’t spent — track them yourself.

➤ What will happen to Medicare Advantage in 2027?

Medicare Advantage is contracting for 2027 rather than expanding. Several carriers have announced they are reducing plan offerings or exiting counties entirely, and roughly one in ten current members is expected to see their plan go away. At the same time, federal rules finalized on April 2, 2026 improve the drug benefit: the Part D out-of-pocket cap rises to $2,400 and the maximum standard deductible to $700, with Medicare Advantage out-of-pocket limits set at $9,850 in-network and $14,800 combined. Supplemental benefits such as dental, vision and over-the-counter allowances are expected to keep shrinking. If your plan is not renewed for 2027, your carrier must notify you by October 1, 2026, and you qualify for a Special Enrollment Period to choose new coverage.

➤ What is the Medicare Part D out-of-pocket cap for 2027?

The 2027 annual out-of-pocket cap for prescription drugs is $2,400, up from $2,100 in 2026. Once you reach it, you pay nothing more for covered formulary drugs for the rest of the calendar year. The standard Part D deductible for 2027 is $700, up from $615 — though many Medicare Advantage plans set a lower drug deductible or none at all.

➤ How much do Medicare Advantage plans cost in 2027?

Plan premiums vary by ZIP code and many plans carry a $0 monthly premium, but premium is only one of five cost components. You’ll also pay your Medicare Part B premium regardless, plus copays, drug costs up to the $2,400 cap, and potentially up to your plan’s medical out-of-pocket maximum. Specific 2027 premiums become public when CMS releases plan data on October 1, 2026, two weeks before the Annual Enrollment Period opens on October 15.

➤ Which carrier has the best Medicare Advantage plans for 2027?

It depends on what you’re optimizing for. UnitedHealthcare leads on network size and national availability at roughly 26% market share. Humana competes on supplemental benefit breadth at roughly 20%. Aetna’s CVS integration helps on pharmacy costs, and it had over 81% of members in 4-star-or-better plans for 2026. Kaiser Permanente had 100% of contracts at 4+ stars but operates only in limited regions. Carrier strength is a national average — verify plan quality in your own county.

➤ What company has the highest rated Medicare Advantage plan?

By star ratings, Kaiser Permanente is the highest rated Medicare Advantage carrier, with 100% of its contracts rated 4 stars or higher for 2026 — though it operates in only a limited set of regions. Among the large national carriers available in most of the country, Aetna places the greatest share of members in 4-star-or-better plans at over 81%. Star ratings for 2027 plans have not been released and will not be published until CMS releases plan data on October 1, 2026, so any “highest rated 2027 plan” claim you see before that date is based on 2026 ratings. Ratings apply to a contract rather than to a county, so the highest rated carrier nationally is not automatically the highest rated plan available where you live.

➤ Are Medicare Advantage benefits being cut in 2027?

Specific 2027 benefits aren’t public until the Annual Enrollment Period, so nothing is confirmed. Supplemental benefit reductions have been widely reported across recent plan years as carriers respond to margin pressure, so it’s reasonable to expect variation. Confirm every benefit you’re relying on in the plan’s official 2027 Summary of Benefits before enrolling rather than assuming it carries over from 2026.

➤ Is a $0 premium Medicare Advantage plan actually free?

No. You still pay your Medicare Part B premium, and a $0-premium plan can carry copays, a drug deductible up to $700, and a higher medical out-of-pocket maximum than a plan charging a monthly premium. Compare total expected annual cost — premium plus copays plus drug spend — rather than the premium line alone.

➤ What is changing with Medicare Advantage star ratings in 2027?

CMS removed 11 administrative process measures where plan performance barely varied, discontinued the Excellent Health Outcomes for All reward, and added a Part C depression screening measure phasing in for the 2029 ratings. Because the measure set changed, a plan’s 2027 rating isn’t a direct like-for-like comparison against its rating from two years earlier.

➤ Are there any 5-star Medicare Advantage plans?

Yes. Eighteen Medicare Advantage contracts earned 5 stars for 2026, up from seven the prior year, though they aren’t offered in every county. Five-star plans carry an enrollment advantage: the 5-Star Special Enrollment Period lets you switch into one once per year between December 8 and November 30, outside the standard windows. Check whether your doctors participate before assuming a 5-star plan is the right fit.

➤ Do I still have to pay the Part B premium with a Medicare Advantage plan?

Yes. Medicare Advantage replaces how your Part A and Part B benefits are delivered, but you remain enrolled in Medicare and continue paying the Part B premium. Some plans offer a Part B premium giveback that reduces this amount, but that’s a specific plan feature and not a general rule.

➤ What is the out-of-pocket maximum on a Medicare Advantage plan?

Every Medicare Advantage plan caps your annual in-network medical spending — this is one of the structural advantages over Original Medicare, which has no cap. The specific amount varies substantially between plans, sometimes by several thousand dollars in the same county. It’s separate from the $2,400 prescription drug cap, so budget for both.

➤ When can I enroll in a 2027 Medicare Advantage plan?

The Annual Enrollment Period runs October 15 through December 7, 2026, for coverage effective January 1, 2027. If you’re already in a Medicare Advantage plan, the Medicare Advantage Open Enrollment Period from January 1 to March 31, 2027 allows one additional switch. If you’re new to Medicare, your Initial Enrollment Period runs three months before through three months after your 65th birthday month.