A sharp jump in a Medicare drug plan's monthly premium is drawing warnings from enrollees who say this is exactly why people should never let coverage roll over.
For older adults on tight budgets, even a few extra dollars a month can make a difference.
Here's what to know
According to a post on Reddit, the original poster received a notice that said the Humana Basic Part D plan would cost $28.30 a month in 2027. This year, it only costs $4.40 a month. The same notice that the OP received said the deductible would rise from $615 to $700 and that the Part D out-of-pocket cap would be $2,400.
That premium increase amounts to more than a sixfold jump for the plan the OP said was Humana's cheapest option.
One Reddit user said, "I'm on that same humana plan and saw the jump, almost spit out my coffee."
More background
One person commented, "My well care value plan in NC going from 3.60 to 5.30 with the higher deductible and higher co-pays and probably formulary changes.."
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A separate reply pointed readers to the 2027 Medicare handbook's discussion of comparing cash prices and discount cards. The commenter noted that purchases made that way generally do not count toward a Part D deductible or out-of-pocket maximum.
What can be done?
One Redditor said, "Yes, we are encouraging everyone to read their ANOC letters and re-evaluate drug plan choices after October 1. All plan information for 2027 will be available on medicare.gov starting October 1."
Beyond the monthly premium, enrollees may want to review whether their plan covers their medications and whether insurance companies have reassigned any to a different tier. Comparing those costs with discount options may help save money. The catch is that a cheaper price outside the plan may not help with the deductible or the plan's spending limits.
Where can I learn more?
Rising medical and insurance costs are putting pressure on household budgets in many ways.
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