When is Medicare open enrollment for 2027 coverage?
Medicare's annual open enrollment period runs from October 15 to December 7. Changes you make during this window generally take effect on January 1. During this time you can switch between Original Medicare and Medicare Advantage, change Medicare Advantage plans, or join, switch or drop a Medicare drug plan (Part D).
Guidance reviewed October 23, 2026. This article explains the long-standing open-enrollment process using Medicare.gov guidance. It does not quote 2027 premiums or plan details, because those vary by plan and location. Confirm specifics with Medicare.gov, 1-800-MEDICARE or your State Health Insurance Assistance Program (SHIP). The cover is an AI-generated conceptual illustration.
Why should you review your plan every year?
Plans can change costs, covered drugs, pharmacy networks and provider networks from one year to the next. A plan that suited you this year may cost more or cover less next year, even if you do nothing. If you stay put, your current plan usually renews automatically with its new terms.
Your plan should send an Annual Notice of Change (ANOC) each fall. It summarizes what is changing for the coming year. Reading it is the fastest way to decide whether a deeper comparison is worth your time.
What should you compare between plans?
- Total yearly cost. Add premiums, deductibles and expected copays or coinsurance for the drugs and visits you actually use.
- Drug coverage. Confirm each prescription is on the plan's formulary and note its tier and any restrictions.
- Pharmacies. Check whether your preferred pharmacy is in network or "preferred," which can lower costs.
- Doctors and hospitals. For Medicare Advantage, confirm your providers are in the plan's network.
- Out-of-pocket limits and extras. Medicare Advantage plans have a yearly out-of-pocket maximum for covered services; some also offer extra benefits. Weigh extras against core coverage.
The Medicare Plan Finder on Medicare.gov lets you enter your drugs and pharmacies to estimate yearly costs across available plans.
Worked example: premium versus total cost
Consider a hypothetical retiree comparing two drug plans for next year.
- Plan A: lower monthly premium, but one of her regular medications sits on a higher tier with a larger copay.
- Plan B: a monthly premium about $15 higher, but that same medication has a much smaller copay at her usual pharmacy.
If the copay difference on that one drug is about $40 a month, Plan B costs roughly $180 more in premiums over the year but saves about $480 in copays — around $300 better overall. The numbers are illustrative; the point is that the cheapest premium is not always the cheapest plan. Run your own drugs through Plan Finder before choosing.
Common mistakes to avoid
- Letting a plan auto-renew without reading the Annual Notice of Change.
- Choosing by premium alone.
- Forgetting to check that a new medication added this year is covered.
- Trusting unsolicited calls that pressure you to switch. Medicare will not call to sell you a plan.
- Missing the December 7 deadline. Other enrollment windows exist, but they are more limited.
Can you get free help?
Yes. Every state has a SHIP that offers free, unbiased one-on-one counseling. You can also call 1-800-MEDICARE. People with limited income and resources may qualify for Extra Help with drug costs; Medicare.gov and SSA.gov explain how to apply.
How MoneyPatrol can help
Healthcare premiums and copays are recurring costs that are easy to underestimate. MoneyPatrol can show your medical and pharmacy spending in supported connected accounts so you have real numbers for your comparison. It does not recommend or enroll you in a Medicare plan.
For related planning, read HSA open enrollment for 2027 and Social Security COLA and your budget.
Official sources
MoneyPatrol is not a financial, tax, investment, legal or accounting advisor. This article is for general educational purposes only and is not a substitute for personalised advice from a qualified professional. See our full disclaimer.
