Medicare Open Enrollment runs Oct. 15 through Dec. 7, 2026. It’s your yearly window to change Medicare coverage for 2027, and whatever you choose takes effect Jan. 1. If you’re 65 or older, it’s worth an hour of your time this fall, even if you like your current plan.
Plans change their premiums, drug lists, and doctor networks every year, and 2027 brings more change than usual. Here’s what’s different, followed by 14 tips for getting the best coverage and care for the year ahead.
What’s Changing in Medicare for 2027
Several Medicare costs move for 2027. Some are already set, and CMS announces the rest in November.
| Item | 2026 | 2027 |
|---|---|---|
| Part B standard premium | $202.90 a month | $209.50 a month (projected) |
| Part B deductible | $283 | Announced in November |
| Part D out-of-pocket cap | $2,100 | $2,400 |
| Part D maximum standard deductible | $615 | $700 |
| Drugs with negotiated Medicare prices | 10 | 25 (15 added) |
Sources: CMS 2026 premium fact sheet, CMS 2027 Part D rate announcement, and the 2026 Medicare Trustees Report (projected 2027 Part B premium).
Medicare’s negotiated prices for 15 more drugs take effect Jan. 1, 2027. The list includes semaglutide (sold as Ozempic, Wegovy, and Rybelsus), Trelegy Ellipta, Xtandi, Ibrance, and Linzess. CMS projects the new prices will save enrollees about $685 million in out-of-pocket costs in 2027. They join 10 drugs, including Eliquis, Jardiance, and Xarelto, whose negotiated prices took effect in 2026.
Plan choices are shifting too. Several large insurers are cutting Medicare Advantage plans or leaving some counties for 2027. The federal subsidy that held down stand-alone Part D premiums in 2026 is ending. If your plan is going away, you’ll get a notice, and you can pick a new one during open enrollment.
On the income side, Social Security benefits rise 3.6% in January. The 2027 COLA breaks down what that adds to your check after the Part B increase.
1. Know the Open Enrollment Rules
Medicare’s open enrollment is a time period every year when you can:
- Change from Medicare Parts A & B (Original Medicare) to a Part C (private Medicare Advantage) plan
- Change from Medicare Advantage back to Original Medicare
- Join, drop, or switch a Part D prescription drug plan
- Switch Medicare Advantage plans
You’re never locked into Medicare coverage for more than a year, so it pays to review your options every fall.
2. Find Out How Your Existing Plan Has Changed
Medicare Advantage and Part D plans can change their premiums, drug lists, and networks every year. Start by finding out what’s new with your current coverage.
If your plan is changing, it had to send you an Annual Notice of Change (ANOC) by Sept. 30. If you can’t find it, call your insurer and ask for a copy.
Pay particular attention to:
- The list of drugs that the plan will cover in the next year
- How much those drugs will cost
- What the premium will be in 2027
- What percentage of the plan will pay for different types of medical expenses
3. Find Out Which Plans Your Doctors Will Accept in 2027
Call your doctors’ offices and ask the billing department which plans they’ll accept in 2027. If they’re dropping your current plan, check whether another plan they accept fits your budget.
4. Assess If Your Existing Plan Is Still a Good Match for Your Health Needs
Once you know what your current plan will cover in 2027, compare that with your current and expected health needs.
Will your existing plan still cover the medications you take? Has your health changed, and do you now have different needs?
5. Understand the 2027 Part D Changes
The Part D out-of-pocket cap on covered drugs rises to $2,400 in 2027, up from $2,100. The maximum standard deductible rises to $700 from $615. Once you reach the cap, you pay nothing more for covered drugs that year. If you take one of the 15 drugs with new negotiated prices, check how your plan covers it for 2027.
Again, be sure to look carefully at any changes to your current coverage.
6. Compare Your Existing Plan to Alternatives
Even if your existing plan works well for you, you should still shop around to see if there is a more cost-effective option.
You can contact your State Health Insurance Assistance Program (SHIP). SHIP (sometimes called by another name) provides free counseling to any Medicare recipient to help people choose a Medicare plan.
You can contact Medicare at 1-800-MEDICARE or Medicare.gov. They have a Medicare plan comparison tool that may be helpful.
The Boldin Planner also enables you to estimate your lifetime medical costs for different coverage types, health conditions, and premium levels.
Want human help with Open Enrollment questions?
Companies like Chapter and CoverRight® represent a wide range of insurers and will:
- Answer questions you have about coverage
- Help you compare your options
- Ensure your doctors and prescriptions are covered
They are commission-neutral, and it is free to work with them. Learn more below.
7. Beware of Medicare Scams and Don’t Believe All the Ads You’ll See
Medicare rules bar agents and plans from calling, texting, or visiting you unless you asked them to. Medicare itself won’t call to sell you a plan or ask for your Medicare number. Treat any unsolicited call, text, or voicemail offering Medicare help as a likely scam.
Do not give out any personal information.
Also, be wary of the barrage of advertising you will likely see during this period.
8. Check Out Ratings on Plans
Once you have identified a plan or plans that may be a good fit for your particular health needs, you can look up how well those plans rate.
Medicare.gov lets you research plan quality and performance ratings.
U.S. News and World Report is also a reliable source. They evaluate all insurance companies. See their Best Medicare Advantage Plans and best plans by state.
9. Cut Your Prescription Costs
Even with supplemental coverage, prescription co-pays can add up. To save money, discuss your concerns with your doctor. Ask if they will prescribe a less expensive alternative or a generic.
Whatever your doctor prescribes, shop around to fill your prescription. Filling the same prescription at Costco versus CVS could save a lot. Ordering a 90-day supply online may save you even more.
#1 Retirement Planning Software
10. Use a Health Savings Account (HSA)
If you’re still working and eligible for an HSA, keep contributing until you enroll in Medicare. Contributions go in pre-tax, the money grows tax-free, and withdrawals for qualified medical expenses are tax-free. Once you’re on Medicare, you can’t add new money. You can still spend what’s there on Part B, Part D, and Medicare Advantage premiums, plus out-of-pocket costs.
Learn more about HSAs: What they are and why they are a compelling savings option.
11. Be Proactive to Stay Healthy
If you are in good health, you’ll spend less on retirement health care costs.
Medicare offers a wide range of immunizations, preventive screenings, and well-being programs for free.
12. Make Sure Out-of-Pocket Medical Costs Are Factored into Your Overall Retirement Financial Plan
Healthcare is one of the biggest expenses most retirees face. Fidelity estimates a 65-year-old retiring in 2026 will need about $185,500 for healthcare in retirement, or about $371,000 for a couple.
Make sure your retirement plan accounts for that cost.
The Boldin Planner is an award-winning tool that can help you prepare. This easy-to-use software offers very detailed and sophisticated calculations and includes retirement health care costs.
13. Get Human Help with Your Decisions
Finding the right coverage isn’t easy. And, most of the help you’ll find comes from brokers tied to only a small handful of insurers. Your skepticism is justified. You deserve clear, unbiased guidance that shows you all your options.
To help you make confident healthcare decisions, Boldin has partnered with CoverRight® and Chapter. Both are independent agents, giving you access to a wide range of insurers—not just one. Even better, they’re commission-neutral, meaning their experts earn the same no matter which plan you choose.
Their goal is to help you find the coverage that fits you best.
Boldin’s Medicare partners: Help for your coverage decisions
The Boldin team researched and assessed both CoverRight® and Chapter and believe that they both offer a great service that is aligned with your needs. These companies are independent agents representing a range of insurers. Additionally, we receive compensation for these links.
CoverRight®: Click here to book an appointment or call 866 595 3191 to talk to a licensed advisor.
Chapter: Compare plans online or call 212 461 4182 to talk with a licensed advisor.
14. Know About the Medicare Advantage Open Enrollment Period
If you’re in a Medicare Advantage plan, you get one more chance to change your mind. From Jan. 1 through March 31, 2027, you can switch to a different Medicare Advantage plan or move back to Original Medicare. You can make one change during that window.
FAQ: Medicare Open Enrollment for 2027 Coverage
When is Medicare open enrollment for 2027 coverage?
Medicare Open Enrollment for 2027 coverage runs Oct. 15 through Dec. 7, 2026. Changes you make take effect Jan. 1, 2027. If you’re in a Medicare Advantage plan, you get one more chance to switch plans or return to Original Medicare from Jan. 1 through March 31, 2027.
What is the Medicare Part D out-of-pocket cap for 2027?
The Medicare Part D out-of-pocket cap is $2,400 for 2027, up from $2,100 in 2026. Once your spending on covered drugs reaches the cap, you pay nothing more for covered drugs for the rest of the year. The maximum standard Part D deductible rises to $700 from $615.
How much will Medicare Part B cost in 2027?
The standard Part B premium is $202.90 a month in 2026. The 2027 premium is projected at $209.50, and CMS announces the final amount in November. Higher earners pay more through income-related surcharges known as IRMAA.
Which drugs have lower Medicare prices in 2027?
Negotiated Medicare prices for 15 drugs take effect Jan. 1, 2027: semaglutide (sold as Ozempic, Rybelsus, and Wegovy), Trelegy Ellipta, Xtandi, Pomalyst, Ofev, Ibrance, Linzess, Calquence, Austedo, Breo Ellipta, Xifaxan, Vraylar, Tradjenta, Janumet, and Otezla. Your savings depend on how your plan sets copays for each drug.
Do I need to do anything during open enrollment if I like my plan?
If you do nothing, most Medicare plans renew on their own for the next year. Review your Annual Notice of Change anyway, since premiums, drug lists, and networks can change for 2027. If your plan is leaving Medicare, you’ll need to choose a new one.
