Every fall, millions of people with Medicare get a few weeks to review their coverage and switch if something better is out there. Plenty of people skip it and let their plan roll over. That’s usually fine, until a favorite doctor leaves the network or a prescription suddenly costs twice as much.
Open enrollment for 2027 coverage started on October 15. Here’s what you can change, the notices to look out for, and how to compare plans without getting overwhelmed.
The dates that matter
- October 15, 2026: Open enrollment began.
- Late October or November: Medicare usually announces the new Part B premium around now.
- Late November to December: Your Social Security COLA notice shows your 2027 benefit after Medicare premiums are taken out.
- December 7, 2026: Last day to make changes.
- January 1, 2027: Your new coverage starts.
What you can change
During open enrollment you can:
- switch from Original Medicare to a Medicare Advantage plan, or the other way round
- move from one Medicare Advantage plan to another
- join, drop or change a Part D prescription drug plan
If you’re happy with your plan and nothing in it is changing, you don’t have to do anything. It will renew automatically. Just keep in mind that “nothing changing” is something you check, not something you assume.
Notices worth opening
- Annual Notice of Change (ANOC): If you’re in a Medicare Advantage or Part D plan, this should have arrived by the end of September. It lists next year’s changes to premiums, copays, the drug list and the provider network. It’s the single most useful thing to read.
- Plan non-renewal notice: If your plan is leaving your area or closing, you’ll get a letter. This gives you extra time to choose a new plan.
- IRMAA notice: Higher earners pay more for Parts B and D. If your income has dropped, for example because you retired, you can ask SSA to reconsider.
What’s changing in 2027
| 2026 | 2027 | |
|---|---|---|
| Part D yearly out-of-pocket cap | $2,100 | $2,400 |
| Part D standard deductible | $615 | $700 |
| Part B standard premium | $202.90 a month | Not yet announced (about $209.50 projected) |
A few other things to know:
- Negotiated drug prices: New Medicare-negotiated prices for 15 more drugs take effect January 1, 2027. They include Ozempic, Wegovy and Rybelsus, along with Trelegy Ellipta, Xtandi and Ibrance. If you take any of these, compare how each plan covers them.
- Part D premiums: A temporary federal subsidy that helped keep drug plan premiums down ends this year, so some plans may cost more. Check yours rather than assuming.
- Part B premium: The $209.50 figure is a projection from the Medicare Trustees. The official number usually comes out between mid-October and mid-November. It’s deducted from most people’s Social Security checks, so it affects how much of the 3.6% COLA you actually see.
How to compare plans without the headache
- Make a list of your doctors, pharmacies and every prescription, with doses.
- Use Medicare Plan Finder at Medicare.gov. Enter your drugs to see estimated yearly costs for each plan, not just the monthly premium.
- Look at total cost. A $0 premium plan can still cost more if your drugs sit on a higher tier or your doctors charge out-of-network rates.
- Get free, unbiased help from your State Health Insurance Assistance Program (SHIP), or call 1-800-MEDICARE (1-800-633-4227).
- Be wary of cold calls. Medicare doesn’t call to sell plans, and you should never give your Medicare number to someone who contacts you out of the blue.
Sources: Kiplinger, Associated Press via 6abc and Yahoo News.
Jackson is a dedicated USA news writer, who covers important topics such as Social Security payment schedules, COLA increases, IRS tax refunds, stimulus payment announcements, Medicare eligibility, retirement benefits, and changes to state driving laws. His goal is to provide clear, informative, and easy-to-follow articles that help retirees, seniors, taxpayers, and American families stay informed.