Medicare Open Enrollment 2027: Key Dates, Part D Changes, and How to Compare Your Options

What Is Medicare Open Enrollment for 2027 Coverage?

Medicare Open Enrollment—officially called the Annual Enrollment Period, or AEP—is the yearly period when Medicare beneficiaries can make certain changes to their coverage.

During AEP, you may be able to:

• Switch from one Medicare Advantage plan to another
• Move from Original Medicare to a Medicare Advantage plan
• Leave Medicare Advantage and return to Original Medicare
• Join, change, or drop a stand-alone Medicare Part D plan

The decisions made during this period apply to your 2027 Medicare coverage.

If you return to Original Medicare, you may also want Medicare Supplement Insurance, commonly called Medigap. However, AEP does not create a guaranteed right to purchase every Medigap policy. Depending on your state and circumstances, an insurer may use medical underwriting unless you have a separate guaranteed-issue right.

Why the 2027 Medicare Part D Changes Matter

Several Medicare Part D figures are increasing for 2027:

• The standard Part D deductible increases to $700, up from $615 in 2026.
• The annual out-of-pocket limit increases to $2,400, up from $2,100 in 2026.
• The national base beneficiary premium increases to $41.33, although this is not necessarily the amount an individual enrollee will pay.

Once the amount counted toward your Part D out-of-pocket limit reaches $2,400, you generally pay $0 for covered Part D medications for the rest of the calendar year.

CMS is also ending the temporary Part D Premium Stabilization Demonstration after 2026. This program applied to participating stand-alone prescription drug plans—not Medicare Advantage drug plans—and was intended to reduce premium volatility following the Part D benefit redesign.

The conclusion of the demonstration does not mean Medicare’s Extra Help program is ending. Extra Help, also known as the Part D Low-Income Subsidy, will remain available to beneficiaries who qualify.

CMS will release finalized 2027 Medicare Advantage and Part D plan offerings and average premium information in fall 2026. Learn more in the CMS Medicare Part D 2027 bid information.

These changes do not mean every plan will become more expensive. They do mean that a plan that worked well in 2026 may provide different costs or coverage in 2027.

Medicare Enrollment Dates for 2027 Coverage

The Annual Enrollment Period for 2027 coverage runs from October 15 through December 7, 2026.

The Medicare Advantage Open Enrollment Period from January 1 through March 31 is available only to people already enrolled in a Medicare Advantage plan.

During that period, an eligible enrollee may generally make one change: switch to another Medicare Advantage plan or return to Original Medicare, with the opportunity to join a stand-alone Part D plan when applicable. It cannot be used by someone with Original Medicare to join Medicare Advantage.

If you do nothing during AEP, your current coverage will generally renew as long as the plan remains available. However, automatic renewal does not mean your benefits and costs will remain unchanged.

How Do I Change Medicare Plans for 2027?

Start by reviewing your plan’s Annual Notice of Change, or ANOC. Plans generally deliver this notice by September 30.

The ANOC explains how your coverage will change in the coming year, including possible changes to:

• Monthly premiums
• Deductibles
• Copayments and coinsurance
• Covered medications
• Formulary tiers
• Prior-authorization requirements
• Pharmacy networks
• Provider networks
• Additional plan benefits

You can compare available plans through the official Medicare Plan Finder or work with a licensed Medicare insurance agent.

When comparing plans, consider your estimated total annual cost—not only the monthly premium.

The appropriate option depends on your medications, providers, preferred pharmacies, health needs, budget, and available plans—not which plan advertises most frequently.

How Lowcountry Insurance Brokers Compares Medicare Plans

Lowcountry Insurance Brokers does not give every client the same plan recommendation.

We compare available Medicare Advantage and Part D plans using details specific to you, including:

• Your current prescriptions
• Exact dosages and refill quantities
• Your preferred pharmacies
• Your doctors and specialists
• Your anticipated healthcare needs
• Your coverage and cost preferences

Two people with the same medical condition can receive very different results based on their medications, dosages, pharmacy choices, provider networks, and location.

Our role is to explain the available options clearly so that you can make an informed decision. There is no single Medicare Part D plan that is best for every beneficiary.

If you are approaching Medicare eligibility, visit our Medicare enrollment and turning-65 guidance page to learn more about the enrollment process.

What Can Happen If You Do Not Review Your Coverage?

Your plan may still be available in 2027, but important details could change.

For example:

• A medication could move to a more expensive formulary tier.
• A prescription could require prior authorization or step therapy.
• Your preferred pharmacy could leave the plan’s preferred network.
• A healthcare provider could leave a Medicare Advantage network.
• Your premium, deductible, copayments, or coinsurance could increase.
• A benefit you use could be reduced or discontinued.
• Your plan could stop serving your area.

The Part D late-enrollment penalty is generally not triggered simply because you allow an existing plan to renew. It may apply if you go at least 63 consecutive days without Medicare drug coverage or other creditable prescription coverage after becoming eligible.

Reviewing your plan during AEP helps you identify changes before they affect your care or budget.

Who Should Review Coverage During Medicare Open Enrollment?

Anyone enrolled in a Medicare Advantage or stand-alone Part D plan should review their coverage for 2027—even if they are satisfied with their current plan.

A review is especially important if:

• Your medications have changed.
• You started taking a brand-name or specialty medication.
• Your preferred pharmacy has changed.
• You have new doctors or specialists.
• You received notice of a premium or deductible increase.
• One of your prescriptions changed formulary tiers.
• Your Medicare Advantage provider network changed.
• You expect different healthcare needs in 2027.
• Your current plan will no longer be offered.

Reviewing your options does not obligate you to change plans. It may confirm that your existing coverage remains suitable.

How to Prepare Before Open Enrollment Begins

Preparing ahead of time can make comparing Medicare plans for 2027 faster and more accurate.

1. Gather Your Prescriptions

For each medication, record:

• Medication name
• Dosage
• Quantity
• Refill frequency
• Whether you require a specific brand

2. Identify Your Preferred Pharmacies

Include local and mail-order pharmacies you are willing to use. A prescription may cost less at one of a plan’s preferred pharmacies.

3. Review Your Annual Notice of Change

Compare the 2027 changes with the benefits and costs you currently receive.

4. List Your Healthcare Providers

If you are considering Medicare Advantage, confirm that your primary care physician, specialists, hospitals, and other facilities participate in the plan’s 2027 network.

5. Compare Total Estimated Costs

Consider:

• Monthly premiums
• Deductibles
• Medication copayments or coinsurance
• Medical cost sharing
• Maximum medical out-of-pocket limits
• Pharmacy and provider network restrictions

A plan with a lower premium is not always the least expensive option once your prescriptions and healthcare use are considered.

Schedule Your Personalized 2027 Medicare Review

Medicare Open Enrollment for 2027 coverage runs from October 15 through December 7, 2026. Changes made during this period generally take effect January 1, 2027.

Before your review, gather your medication names, dosages, refill quantities, preferred pharmacies, and healthcare providers. These details allow for a comparison based on how you actually use your coverage.

Leah Hill and the team at Lowcountry Insurance Brokers offer personalized, no-obligation Medicare plan reviews to help you understand your options for 2027.