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Medicare Open Enrollment is one of the most important times of the year for Medicare beneficiaries. From October 15 through December 7, you have the opportunity to review your current coverage and make changes that will take effect on January 1, 2027. During this period, you can switch Medicare Advantage plans, move between Original Medicare and Medicare Advantage, enroll in a Part D prescription drug plan, or make changes to your existing drug coverage.
While it may be tempting to keep the same plan year after year, Medicare plans can change annually. Provider networks, prescription drug formularies, premiums, copayments, and supplemental benefits may be different in 2027 than they were in 2026. Taking the time to evaluate your options can help ensure your coverage continues to align with your healthcare needs and budget.
Before choosing 2027 Medicare coverage, consider these five questions:
Has my health changed since last year?
One of the most important factors when evaluating Medicare coverage is whether your healthcare needs have changed. New medical conditions, additional specialist visits, planned procedures, or changing prescription drug needs can all impact the type of coverage that may be most appropriate for you.
Even if your current plan worked well this year, it may not provide the same value if your healthcare needs have evolved. Reviewing anticipated medical expenses for the coming year can help you determine whether your current coverage remains a good fit.
Are my doctors and healthcare providers still in network?
Provider networks can change from year to year, particularly within Medicare Advantage plans. Before enrolling in a plan for 2027, verify that your preferred physicians, specialists, hospitals, and healthcare facilities continue to participate in the network.
For Medicare Advantage plans, receiving care from an out-of-network provider may result in higher costs or no coverage, depending on the plan type. Original Medicare generally allows beneficiaries to see any provider that accepts Medicare. Taking a few minutes to confirm provider participation may help you avoid unexpected expenses and disruptions to your care.
Does my prescription drug coverage still meet my needs?
Prescription drug costs remain one of the most significant healthcare expenses for many retirees. Medicare Part D plans differ in their formularies, premiums, deductibles, pharmacy networks, and cost-sharing structures. In addition, these plan features can change each year.
As you prepare for Open Enrollment, create an updated list of your medications and compare it against available plans. Consider whether your medications remain covered, whether your preferred pharmacy is included in the network, and what your expected out-of-pocket costs may be.
This review is particularly important because Medicare Part D plans have varying deductibles and cost structures, and beneficiaries should evaluate their coverage annually.
What will my total healthcare costs be?
Many people focus primarily on monthly premiums when selecting coverage. While premiums are important, they tell only part of the story.
Costs to compare when evaluating Medicare plans
- Monthly premiums
- Annual deductibles
- Copayments and coinsurance
- Prescription drug costs
- Out-of-pocket maximums
- Network-related expenses
Evaluating total costs rather than premium alone can provide a more accurate picture of what you may spend throughout the year. Medicare beneficiaries in 2026 continue to face varying Part B premiums, income-related adjustments, and plan-specific cost-sharing requirements.
What Medicare coverage options are available for 2027?
Your current plan may still be the right choice, but Open Enrollment is an ideal time to confirm that assumption. New plans may become available in your area, existing plans may introduce different benefits, and costs can change significantly from year to year.
Whether you are enrolled in Original Medicare with supplemental coverage or a Medicare Advantage plan, comparing available options can help ensure you are receiving the coverage and value you need. The goal is not simply to find the lowest-cost plan but to identify coverage that supports your overall health, financial situation, and retirement goals.
Prepare for the Medicare Open Enrollment deadline
Medicare Open Enrollment only occurs once each year, making it an important opportunity to review your options before coverage begins on January 1, 2027. Beneficiaries can make changes between October 15 and December 7, including changing Medicare Advantage plans, adding or changing Part D coverage, or moving between Original Medicare and Medicare Advantage.
By asking these five questions and reviewing your coverage carefully, you can make more informed decisions and enter the new year with greater confidence that your Medicare plan continues to meet your needs.
Connect with a Brown & Brown
For further information on the Medicare Open Enrollment, please contact a Brown & Brown insurance representative.
About the author
Brenda Shearer is the National Director of EB Select and Medicare, dedicated to providing day-to-day employee benefit account management for customers and brokers, as well as the management of the staff. She has extensive training and knowledge of all major carriers in the marketplace, including individual, Medicare, small and large group products. She has also worked closely with large accounts and PEOs.
Brown & Brown does not offer every plan available in every geographic location. Any information Brown & Brown provides is limited to those plans offered by Brown & Brown. Brown & Brown is not connected nor endorsed by the United States or any state government or Medicare program. Please contact Medicare.gov or 1-800-Medicare to get information on all your options.