According to CMS data released Sept. 29, the total number of Medicare Advantage plans available in 2027 will be nearly unchanged from 2026, slipping from 5,553 to 5,532. But that apparent stability hides a sharp pullback by the largest insurers, which are cutting plans and raising out-of-pocket costs to recover margins after unexpectedly high medical spending.
UnitedHealthcare is eliminating about 690 plans, Humana about 2,400, and Centene about 3,000, according to an analysis by investment bank Stephens. Centene is also exiting 344 counties, with CVS, UnitedHealthcare, and Elevance leaving 103, 63, and 56 counties respectively. Meanwhile, Devoted Health is adding 336 counties, and Humana is adding 39, while special needs plans continue to grow.
CMS stresses that more than 99% of beneficiaries will still have access to at least one MA plan and that weighted average premiums are expected to fall 16%. However, that figure is pulled down by special needs plans, and premiums for standard MA-PD plans are rising by several dollars. Insurers project enrollment will drop by about 2 million to 34 million, which would put MA below half of the Medicare population for the first time since 2023.