Medicare’s Annual Open Enrollment Period runs from October 15 through December 7, 2026. During this window, people with Medicare can review and change their health and prescription-drug coverage for 2027. Elections generally take effect January 1, 2027. For many beneficiaries, this annual review may be one of the most important financial and health-care decisions they make all year.

A familiar plan name does not guarantee familiar benefits. Medicare Advantage and Part D plans may change premiums, deductibles, copayments, formularies, pharmacy arrangements, provider networks, prior-authorization rules, and supplemental benefits each year. A plan that worked well in 2026 may no longer be the best fit in 2027—even when the member’s health has not changed.

What beneficiaries can do during open enrollment

From October 15 through December 7, beneficiaries may switch from one Medicare Advantage plan to another; move from Original Medicare to Medicare Advantage; return from Medicare Advantage to Original Medicare; or join, switch, or drop a stand-alone Part D prescription-drug plan, subject to Medicare’s rules. Any enrollment request must be received by December 7.

A major caution: returning to Original Medicare does not automatically guarantee access to a Medicare Supplement, or Medigap, policy. Outside certain guaranteed-issue rights, an insurer may use medical underwriting, depending on applicable federal and state rules. Anyone considering this move should investigate Medigap eligibility and pricing before leaving a Medicare Advantage plan, and should also arrange appropriate Part D coverage.

What is new for 2027

Higher Part D cost limits – For the defined standard Part D benefit, CMS has set the 2027 deductible at $700, up from $615 in 2026. The annual out-of-pocket threshold increases to $2,400, up from $2,100. Individual plans can structure benefits differently within Medicare requirements, so members must examine the actual deductible and cost-sharing shown in their plan documents. The out-of-pocket threshold applies to covered Part D drugs; premiums and non-covered drugs generally do not count toward it.

Drug-plan premiums may change – CMS announced a 2027 Part D base beneficiary premium of $41.33. This is a national calculation used in the Part D program—not the premium every person will pay. Actual premiums vary by plan and may also be affected by income-related surcharges. Stand-alone Part D premiums deserve especially careful comparison for 2027 as the temporary premium-stabilization demonstration is ending.

New negotiated prices for selected drugs – A second group of Medicare-negotiated drug prices takes effect in 2027. The selected products include widely used medicines for diabetes, respiratory disease, cancer, gastrointestinal conditions, and other serious illnesses. A lower negotiated price can reduce costs, but the beneficiary’s actual payment still depends on the plan’s formulary, tier, utilization rules, pharmacy, and benefit phase. Never assume that a drug will be inexpensive—or even covered—without checking the specific 2027 plan.

Medicare Advantage plans continue to evolve – Insurers may reduce service areas, discontinue certain plans, change provider networks, or revise dental, vision, hearing, transportation, over-the-counter, fitness, and other supplemental benefits. The headline premium—sometimes even $0—does not reveal the plan’s total cost or suitability. Members still pay the Part B premium and may face copayments, coinsurance, network limits, prior authorization, and an annual maximum out-of-pocket amount for covered Part A and Part B services.

Part B figures may not yet be final. As this article goes to press, some 2027 Medicare amounts may still be projections rather than final CMS figures. Beneficiaries should rely on the official 2027 Medicare & You handbook and CMS announcements for the final Part A and Part B premiums, deductibles, and income-related adjustments—not on estimates circulating online.

The seven questions every beneficiary should ask

• Will my plan continue in my county in 2027?
• Are my doctors, specialists, hospitals, and preferred pharmacies still participating—and should I confirm directly with them?
• Are every one of my prescriptions on the 2027 formulary, at what tier, and with what restrictions such as prior authorization, step therapy, or quantity limits?
• What will I pay in total—not only the premium, but also deductibles, copays, coinsurance, and the medical maximum out-of-pocket amount?
• Have dental, vision, hearing, over-the-counter, transportation, food, or fitness benefits changed, and do I actually qualify to use them?
• If I travel or live part of the year outside Nevada, how does the plan handle routine, urgent, and emergency care away from home?
• Could I qualify for Extra Help, a Medicare Savings Program, or another assistance program?

Start with the Annual Notice of Change

Every Medicare Advantage and Part D member should read the Annual Notice of Change sent by the current plan. It explains what will change on January 1. Compare that notice with current prescriptions, doctors, hospitals, pharmacies, expected procedures, travel habits, and budget. Do not compare plans on extra benefits alone. Medical access, drug coverage, total annual cost, and financial protection should come first.

Use Medicare.gov’s Plan Compare tool, call 1-800-MEDICARE, contact Nevada’s State Health Insurance Assistance Program for unbiased counseling, or work with a knowledgeable licensed insurance professional. Before enrolling, verify critical providers and medications using more than one source whenever possible. Keep notes of plan names, confirmation numbers, and the date of each conversation.

Do not wait until the final day

Waiting until December 7 leaves little time to correct an incomplete medication list, clarify a network question, or compare alternatives. Begin in October, gather all medicines and provider information, and complete the review early. If no better option is found and the current plan remains available, beneficiaries may choose to stay—but that should be an informed decision, not an automatic renewal.

Medicare is personal. The best plan for a spouse, friend, or neighbor may be a poor choice for someone with different doctors, prescriptions, chronic conditions, travel patterns, or financial priorities. The goal of open enrollment is not simply to find the lowest premium. It is to choose coverage that provides reliable access to care and predictable costs for the year ahead.

Author information: Jatinder Sharma is a licensed insurance professional and owner of Guru Insurance Services Inc. in Las Vegas. He helps Medicare beneficiaries understand and compare their coverage options.

Important disclosure: This article is for general educational purposes and is not legal or medical advice. Plan benefits, premiums, formularies, networks, eligibility, and availability vary by plan, county, and individual circumstances. Not connected with or endorsed by the U.S. government or the federal Medicare program.

Editorial source notes

• Medicare.gov, Open Enrollment: October 15–December 7 and permitted coverage changes.
• Centers for Medicare & Medicaid Services, Announcement of Calendar Year 2027 Medicare Advantage Capitation Rates and Part C and Part D Payment Policies, April 6, 2026, especially Attachment V.
• CMS Medicare Drug Price Negotiation Program materials for prices effective in 2027.
• Official 2027 plan documents, Annual Notices of Change, and Medicare & You handbook should be consulted before publication and enrollment.

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