Florida Medicare premiums and deductibles set to rise in 2027

Check your Medicare choices before the end of the year. Florida’s 5.3 million Medicare enrollees face a sweeping financial squeeze in 2027 as rising monthly premiums, higher prescription deductibles, and shrinking Medicare Advantage benefits hit simultaneously. Beatrice Scafidi, SHINE liaison with the Area Agency on Aging of Palm Beach/Treasure Coast, warns that keeping coverage on autopilot during Open Enrollment from October 15 to December 7 could take a heavy toll on fixed incomes come January. "It looks like Medicare is going to be more expensive," Scafidi said. The monthly Part B premium for Original Medicare is projected to rise to $209.50 in 2027, up $6.60 per month, while the annual deductible climbs about 3% to $292. Because premiums are deducted directly from Social Security checks, these increases eat into annual cost-of-living adjustments before the money even arrives. Meanwhile, Medigap supplement policies are jumping 10% to 15% yearly. Evan Tunis, president of E&M Global Insurance in Parkland, notes that even high-deductible Plan G policies are getting hit. While many Medicare Advantage plans still advertise $0 monthly premiums, insurers are raising specialist copays, increasing inpatient hospital charges, and scaling down rebate checks. Hollywood insurance broker Ricky Rash with Health Options USA warns that choosing a plan based solely on a $0 monthly premium can be misleading, as two zero-dollar options can differ by thousands of dollars in total out-of-pocket spending over the year. Review your medical needs now so you do not get hit with surprise bills.