Medicare’s annual open enrollment period begins October 15, giving beneficiaries until December 7, 2026, to review and change their health and prescription drug coverage for next year. Changes made during this window generally take effect January 1, 2027.
The most useful preparation is checking what your own plan will cover and charge in 2027. National premium averages can help describe the market, but they do not tell you whether your prescriptions, doctors or overall expenses will stay the same.
When can you change Medicare coverage?
According to Medicare.gov’s enrollment guidance, the fall enrollment period allows eligible beneficiaries to:
- Join, drop or switch Medicare Advantage plans.
- Switch between Original Medicare and Medicare Advantage.
- Join, drop or switch a separate Medicare drug plan if they have Original Medicare.
Your plan must receive your enrollment request by December 7 for coverage beginning January 1.
This is different from the Medicare Advantage Open Enrollment Period, which runs January 1 through March 31 for people already enrolled in Medicare Advantage. It is also separate from the enrollment rules for people first signing up for Medicare.
What is changing in Medicare costs for 2027?
In its September 28 outlook, the Centers for Medicare & Medicaid Services projects that the average monthly Medicare Advantage premium will fall from $14.37 in 2026 to $12 in 2027. The average monthly premium for stand-alone Part D drug plans is projected to rise from $35.09 to $36.
Those are national averages, not individual quotes. They also are not the Medicare Part B premium or the total cost of care.
An October 2 analysis by KFF found that some members of existing stand-alone drug plans could face monthly premium increases of $50 or more if they keep their current plan. KFF also found that the average number of stand-alone drug-plan choices will decline from 11 in 2026 to nine in 2027.
These findings concern stand-alone prescription drug plans, not all Medicare Advantage plans. They reinforce why checking your own coverage matters even when national averages appear stable.
Two finalized Part D limits also change:
| Part D cost parameter | 2026 | 2027 |
|---|---|---|
| Maximum annual deductible | $615 | $700 |
| Annual out-of-pocket threshold for covered Part D drugs | $2,100 | $2,400 |
Medicare.gov explains that some drug plans have a lower deductible or none at all. The $2,400 threshold applies to covered Part D drugs; it is not a cap on all Medicare expenses.
Seven checks before choosing your coverage
1. Read your plan’s change notice
Your plan sends an Annual Notice of Change in September describing changes effective in January. Read it alongside the plan’s coverage documents. If the notice is missing, contact your plan.
2. Enter your current prescriptions
Use Medicare Plan Finder to compare plans with your medication list. Check the correct drug, dose and quantity rather than assuming last year’s coverage still applies.
3. Compare estimated annual costs
Look beyond the monthly premium. Medicare’s comparison tools can estimate monthly and yearly drug costs using the prescriptions you enter. These are estimates, not guaranteed bills.
4. Check your pharmacy
A pharmacy can be in a plan’s network without being a preferred pharmacy. Preferred in-network pharmacies may offer lower out-of-pocket drug costs, depending on the plan.
5. Review doctors and coverage restrictions
For Medicare Advantage, check whether your doctors and hospitals participate in the plan. Review referral and prior authorization requirements for services you expect to use. Medicare’s coverage comparison explains how these arrangements differ from Original Medicare.
6. Separate premiums from medical spending limits
A $0 Medicare Advantage plan premium does not mean all care is free. Members generally still pay the Part B premium, although assistance or a plan premium reduction may apply. Check the plan’s medical out-of-pocket limit separately from its drug coverage.
7. Check other insurance before switching
If you have employer or union retiree coverage, speak with the benefits administrator first. Medicare warns that adding Medicare drug coverage could affect coverage for you or your dependents.
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Does fall enrollment guarantee access to Medigap?
No. Switching from Medicare Advantage to Original Medicare does not automatically guarantee that you can buy a Medigap policy without restrictions.
Federal Medigap protections apply in specified circumstances, including the separate Medigap open enrollment period and guaranteed-issue situations. Additional state protections may apply. Check your rights before changing coverage, and consider whether you need a separate drug plan.
Do you have to change plans every year?
Generally, no. If your current plan remains available and still meets your needs, you typically do not need to re-enroll. Reviewing its next-year costs and coverage is still useful before deciding to keep it.
For help, call 1-800-MEDICARE or contact your State Health Insurance Assistance Program, which provides free personalized insurance counseling. People with limited income and resources can also check whether they qualify for Extra Help with prescription drug expenses.
