Every fall, people with Medicare get a window to rethink how they get their health and drug coverage. For 2027 coverage, Medicare Open Enrollment runs from Oct. 15 through Dec. 7, 2026. Any change you make takes effect on Jan. 1, 2027.
It’s tempting to let your plan roll over automatically, and sometimes that’s the right call. But plans can change their premiums, drug lists and provider networks from year to year, so a short review can save money or headaches. This guide walks through the process using official Medicare and CMS information. It’s general information, not personal advice; free one-on-one help is listed at the end.
What you can do during Open Enrollment
According to Medicare’s “Your Yearly Medicare Review” checklist, during Open Enrollment you can:
- Join, switch or drop a Medicare Advantage plan.
- Join, switch or drop a Medicare drug plan (Part D).
- Switch from a Medicare Advantage plan back to Original Medicare.
- Keep your current coverage, if you’re happy with it.
If you’re in a Medicare Advantage plan and change your mind after Jan. 1, there’s a second window. Medicare’s checklist notes that from Jan. 1 to March 31, 2027, people in Medicare Advantage plans can make certain changes, such as switching to a different Medicare Advantage plan or to Original Medicare.
If you have Original Medicare
Open Enrollment isn’t only for people in Medicare Advantage. If you have Original Medicare, it’s your yearly chance to join, switch or drop a stand-alone Part D drug plan, or to move into a Medicare Advantage plan if that suits you better. Drug plans change their premiums and covered-drug lists each year, so even a plan that worked well in 2026 deserves a fresh look against your current prescriptions.
Step 1: Read your Annual Notice of Change
If you’re in a Medicare Advantage or Part D plan, your plan sends an “Annual Notice of Change” in the fall. Medicare suggests starting your review on Oct. 1, when these notices should be in hand. The notice spells out what’s different next year, including:
- Monthly premium, deductible and copays
- Changes to the list of covered drugs (the formulary) and their cost tiers
- Changes to the network of doctors, hospitals and pharmacies
- Extra benefits the plan adds or drops
If you can’t find yours, call your plan and ask for a copy.
Step 2: List what matters to you
Before comparing plans, jot down the details that will make or break a choice:
- Every prescription you take, with dose and how often you fill it.
- The doctors, specialists and hospitals you want to keep.
- Your preferred pharmacy, and whether you use mail order.
- Any extra benefits you rely on, such as dental, vision or hearing coverage in a Medicare Advantage plan.
- Planned procedures or travel that could affect where you need coverage.
Step 3: Compare plans with Medicare Plan Finder
Medicare’s official comparison tool is at Medicare.gov/plan-compare. You can enter your drugs and pharmacies, see plans available in your area side by side and get estimated yearly costs. Medicare’s “Medicare & You” handbook also lists plans by area.
When comparing, look at the total yearly cost estimate, not just the premium. A low-premium plan can cost more if your drugs sit on an expensive tier or your pharmacy is out of network.
What’s changing in premiums for 2027
On Sept. 28, 2026, the Centers for Medicare & Medicaid Services (CMS) published national averages for next year. Your own plan may differ, but the broad picture is:
- The average monthly Medicare Advantage premium is expected to be $12.00 in 2027, down from $14.37 in 2026.
- The average monthly premium for a stand-alone Part D drug plan is expected to be about $36, up from $35.09.
- For Medicare Advantage plans that include drug coverage, the average drug portion of the premium is projected at about $7 a month, down from $11.32.
- CMS expects about 5,532 Medicare Advantage plans in 2027. It says 99% of people with Medicare will have access to at least one plan and 97% to 10 or more.
- CMS estimates Medicare Advantage enrollment at about 34 million people, or 47.4% of everyone with Medicare.
Drug costs: the cap and the deductible
Medicare.gov lists two key Part D figures for 2027:
- Out-of-pocket cap: $2,400 for covered drugs in 2027, up from $2,100 in 2026. Once you reach it, you don’t pay anything more for covered Part D drugs for the rest of the year.
- Deductible: no Medicare drug plan may have a deductible higher than $700 in 2027, up from $615 in 2026.
Medicare also offers the Medicare Prescription Payment Plan, which spreads your out-of-pocket drug costs across the calendar year. Medicare is clear that this option might help with monthly budgeting, but it doesn’t save you money or lower your drug costs.
Step 4: Check whether you qualify for help paying
Two programs are easy to overlook:
- Extra Help helps people with limited income and resources pay for Medicare drug coverage.
- Medicare Savings Programs can help pay Part A and Part B premiums, and in some cases other costs, for people who qualify.
Eligibility depends on income and resources, so it’s worth asking even if you aren’t sure you’d qualify.
Step 5: Make the switch (or don’t)
If you decide to change plans, Medicare Plan Finder and 1-800-MEDICARE can walk you through your options and the enrollment steps. Keep any confirmation numbers you receive and watch the mail for your new plan’s welcome materials and member card.
Enrollment requests need to be in by Dec. 7. If you decide to stay put, you don’t need to do anything.
Watch out for Medicare scams
Open Enrollment is a busy season for impostors. The Federal Trade Commission warns that real Medicare will not call, text or email you out of the blue to ask for your Medicare number or a payment, and won’t try to sell you anything. Real Medicare cards are free and mailed automatically.
Be wary of callers who:
- Say you need a “new” or “updated” Medicare card.
- Ask for your Medicare, bank or credit card number.
- Already know some of your personal details. That’s a common way to sound legitimate.
- Show “Medicare” on caller ID. The FTC notes caller ID can be faked.
Report suspected Medicare impostors to 1-800-MEDICARE and to the FTC at ReportFraud.ftc.gov. The Senior Medicare Patrol (smpresource.org) also helps people spot and report fraud.
Where to get free, unbiased help
- 1-800-MEDICARE (1-800-633-4227), available 24 hours a day; TTY users can call 1-877-486-2048.
- Your State Health Insurance Assistance Program (SHIP), which offers free local counseling. Find yours at shiphelp.org.
A SHIP counselor or another trusted, licensed professional can talk through your specific situation, which is especially helpful if you have retiree coverage, a Medigap policy or coverage from an employer, since those can change the math.
Key dates at a glance
- Oct. 1: start reviewing plan notices.
- Oct. 15: Open Enrollment begins.
- Dec. 7: last day to make changes.
- Jan. 1, 2027: new coverage starts.
- Jan. 1 to March 31, 2027: Medicare Advantage Open Enrollment for people already in a Medicare Advantage plan.
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Sources
- Source: Medicare.gov — Your Yearly Medicare Review (checklist)
- Source: CMS — Medicare Advantage and Medicare Prescription Drug Programs Expected to Remain Stable in 2027
- Source: Medicare.gov — How much does Medicare drug coverage cost?
- Source: FTC Consumer Alert — This Medicare Open Enrollment season, learn how to protect yourself from scams