Medicare Advantage coverage can change from year to year. For 2027, some Medicare beneficiaries may find that their current plan has changed significantly or will no longer be available in their area.
If you receive a notice about changes to your Medicare Advantage plan, it is important to review it carefully. Your doctors, medications, copays, benefits, and other plan details may be different next year.
Why Do Medicare Advantage Plans Change?
Medicare Advantage insurance companies review their plans each year.
Changes may include:
- Monthly premiums
- Doctor and hospital networks
- Prescription drug coverage
- Copays and coinsurance
- Maximum out-of-pocket limits
- Dental, vision, and hearing benefits
- Over-the-counter allowances
- Transportation benefits
- Other supplemental benefits
In some cases, a Medicare Advantage plan may stop being offered in a particular county or service area.
If your plan is affected, your insurance company should send you information explaining the changes.
Pay Attention to Your Annual Notice of Change
One of the most important documents Medicare Advantage members receive each year is the Annual Notice of Change, often called the ANOC.
This document explains how your current plan will change for the upcoming year.
Don't assume your plan will stay the same just because you are currently happy with it.
Review the notice carefully and look for changes involving:
- Your monthly premium
- Medical copays
- Prescription drug costs
- Provider networks
- Hospital coverage
- Additional benefits
Even small changes can make a meaningful difference depending on how you use your healthcare.
What If Your Medicare Advantage Plan Is Ending?
If your current Medicare Advantage plan will not be available in 2027, you may need to choose different coverage.
Start by making a list of the things that matter most to you.
That may include:
- Your primary care doctor
- Specialists you see regularly
- Preferred hospitals
- Prescription medications
- Preferred pharmacy
- Monthly premium
- Expected medical costs
- Additional benefits you use
Then compare available plans based on those needs rather than choosing a plan based on one benefit or advertisement.
When Can You Change Medicare Plans?
The Medicare Annual Enrollment Period runs from:
October 15 through December 7
During this enrollment period, eligible Medicare beneficiaries can generally make changes to their Medicare Advantage and prescription drug coverage for the following year.
Coverage selected during Annual Enrollment generally begins January 1.
Depending on your circumstances, other Medicare enrollment periods may also be available.
Check Your Doctors and Prescriptions Before Enrolling
Two of the most important things to check before selecting a Medicare Advantage plan are your healthcare providers and medications.
Before enrolling, verify that:
- Your doctors participate in the plan
- Your preferred hospitals are in-network
- Your medications are covered
- You understand the drug tier for each medication
- Your preferred pharmacy works well with the plan
Provider networks and prescription formularies can change, even when the insurance company itself stays the same.
Don't Choose a Medicare Plan Based Only on Extra Benefits
Dental, vision, hearing, grocery benefits, transportation, and over-the-counter allowances can certainly be valuable.
But they shouldn't be the only reason you choose a Medicare Advantage plan.
Your medical coverage should come first.
A plan with attractive additional benefits may not be a good fit if your doctors aren't in-network or your prescriptions are expensive.
Reviewing Your Medicare Coverage for 2027
Medicare doesn't have to be overwhelming.
If your current Medicare Advantage plan is changing or ending, start early, review the information your insurance company sends you, and compare your options based on your individual healthcare needs.
Taking a little time to review your coverage now can help prevent surprises when your new coverage begins.
Have Questions About Your Medicare Coverage?
I'm Shawn Ray, an independent licensed insurance agent. I help Medicare beneficiaries review their coverage, compare available Medicare Advantage, Medicare Supplement, and prescription drug options, and understand how plan changes may affect them.
There is no pressure to make a change. Sometimes the best option is keeping the coverage you already have.
Shawn Ray Insurance
Call or Text: 435-244-2001
Website: shawnrayinsurance.com
Schedule an Appointment: shawnrayinsurance.com/calendar
Plan availability, benefits, costs, and provider networks vary by location and insurance carrier.
