Medicare 2026

Memphis Medicare for 2027: the Part D numbers CMS has set, and the ones still pending

Fall 2026 — If you have Medicare in Memphis, the next few weeks are when you decide what your coverage looks like on January 1, 2027. The Annual Enrollment Period runs October 15 through December 7, 2026, and CMS has already locked in some of the 2027 numbers for Part D drug coverage. Other key figures — including the 2027 Part B premium — are still to come. Here is where things stand and what to weigh before the deadline.

What CMS has confirmed for 2027 Part D

Three Part D figures are already set for 2027:

• The annual out-of-pocket cap on covered drugs rises to $2,400 in 2027 (it is $2,100 in 2026). Once you hit that cap, you pay $0 for covered drugs the rest of the year.
• The maximum Part D deductible a plan can charge rises to $700 in 2027 (it is $615 in 2026). Many plans set a lower deductible; this is the ceiling.
• The Part D national base beneficiary premium for 2027 is $41.33. That is a formula input CMS uses — it is not what any specific plan charges you.

The coverage gap (the old "donut hole") was eliminated in 2025. Part D now has three phases: deductible, initial coverage, and catastrophic (where you pay nothing after reaching the out-of-pocket cap). The Medicare Prescription Payment Plan — the optional program that spreads your drug costs across the year in monthly bills — continues to be available for 2027.

What CMS has NOT yet announced

Two big numbers Memphis readers often ask about are still pending:

• The 2027 Part B standard premium and deductible. CMS typically announces these in the fall, often in November.
• The 2027 IRMAA income brackets and surcharges for higher-income enrollees. These are published alongside the Part B figures.

We will not estimate or quote outside projections for either. Check medicare.gov when CMS releases them.

The ANOC letter is the single most useful piece of mail you'll get

By late September, your current Medicare Advantage or Part D plan mails you an Annual Notice of Change describing exactly what will be different in 2027: premium, deductible, drug tiers, copays, pharmacy network, provider network, and extra benefits.

A few minutes with the ANOC answers questions no national article can. Look especially for:

• Any change to the monthly premium and the plan's deductible.
• Whether your regular prescriptions moved to a different tier, or whether a drug was dropped.
• Whether your doctors, hospitals and preferred pharmacies are still in-network for 2027.
• Any change to extra benefits (dental, vision, hearing, over-the-counter, transportation).

If a plan is not being offered in 2027, you will get a separate non-renewal letter, and you qualify for a Special Enrollment Period to pick something else.

Plan availability in Shelby County

Medicare plan choices are set at the county level, not the city level. Memphis is in Shelby County, where 73 Medicare Advantage plans from 12 carriers are offered for 2026, all of them including drug coverage. By plan type, that breaks down to 29 HMOs, 19 HMO-POS plans, and 25 PPOs. There are also 29 Special Needs Plans for people with Medicaid, certain chronic conditions, or who live in an institution.

For 2027, CMS data shows 11 plans not returning, 12 new plans, and 7 renamed in the county. That is normal churn — but it is why reading the ANOC matters even if you like your plan.

The carriers offering Medicare Advantage with drug coverage in Shelby County include Abilis Health, Aetna (CVS Health), American Health Advantage of Tennessee, Blue Cross Blue Shield (HCSC), BlueCare Plus Tennessee, BlueCross BlueShield of Tennessee, Centene (WellCare), Devoted Health, Elevance Health (Anthem), Humana, UnitedHealthcare, and Zing Health. The table below lists every plan by carrier for the county.

One Shelby County note worth stating plainly: there are 0 stand-alone Part D plans shown in the current landscape file for the county, which means drug coverage locally comes bundled inside Medicare Advantage plans. If you have Original Medicare and want stand-alone Part D, use the Plan Finder at medicare.gov to see what is available in your ZIP code.

How to use the AEP window to decide

A simple order of operations for the October 15 – December 7, 2026 window:

1. Open your ANOC and highlight anything that changes for 2027. 2. List your current prescriptions (names, doses) and your must-keep doctors and pharmacies. 3. Run those through the Plan Finder at medicare.gov with your ZIP code — it prices your actual drugs against each plan. 4. If something better fits, enroll before December 7. The new plan starts January 1, 2027. 5. If you have Medicare Advantage and change your mind, the Medicare Advantage Open Enrollment Period (January 1 – March 31, 2027) lets you switch once.

Nothing happens to you if you do nothing — your plan renews with its 2027 changes.

A word on Star Ratings

CMS publishes Star Ratings each fall as a quality measure. They are a useful input, not a verdict. In the Shelby County landscape data, 0 contracts are currently shown at 4 stars or higher, but ratings reflect contracts that cover many counties and sometimes many states, so your experience with a specific plan may differ. Use ratings alongside the things that affect you directly: your drugs, your doctors, your pharmacy, and your budget.