The Medicare Open Enrollment Period, also known as the Annual Election Period (AEP), takes place each year from October 15 through December 7. During this time, you can review your Medicare coverage and, if needed, make changes for the upcoming year. Changes made during AEP take effect on January 1, 2027, as long as the plan receives your enrollment request by December 7.
Preparing ahead of time can help you understand what is changing and evaluate your options with greater clarity.
Start by Reviewing Your Annual Notice of Change (ANOC)
If you have a Medicare Advantage plan or a Medicare drug plan, pay close attention to your Annual Notice of Change (ANOC). This document explains what will change in your plan for the upcoming year, including important updates to coverage, costs, and benefits.
Even if you are happy with your current coverage, don’t assume everything will remain the same in 2027. Reviewing your ANOC can help you identify important changes before deciding whether to keep your current plan.
Review What Has Changed and Have Your Information Ready
Medicare plans can change from year to year, and your needs can change too. Costs, benefits, covered medications, and provider or pharmacy networks may be different for 2027. You may also have a new specialist, a different prescription, or healthcare needs that you didn’t have before.
Before comparing plans, have an updated list of your doctors and specialists, medications and dosages, preferred pharmacies, and current healthcare needs. It can also be helpful to think about the costs you paid and the benefits you actually used during the year.
Starting October 1, 2026, you can begin comparing your current coverage with Medicare plan options available for 2027, before Open Enrollment officially begins.
What Can You Do During Open Enrollment?
From October 15 through December 7, your options will depend on the type of Medicare coverage you currently have. During this period, you can:
- Switch from one Medicare Advantage plan to another, with or without drug coverage.
- Switch from Original Medicare to Medicare Advantage.
- Switch from Medicare Advantage back to Original Medicare.
- If you have Original Medicare, join, switch, or drop a Medicare drug plan (Part D).
Before dropping prescription drug coverage, make sure you understand the potential consequences. Going 63 consecutive days or more without Medicare drug coverage or other creditable prescription drug coverage could result in a Part D late enrollment penalty if you enroll again later.
If you are considering switching from Medicare Advantage back to Original Medicare and would like Medigap coverage, it is also important to understand the rules that apply to your situation. Your ability to purchase a Medigap policy can depend on when you apply and whether you have guaranteed issue rights.
Do You Have to Change Plans?
No. Open Enrollment gives you an opportunity to review your coverage and make changes if you need to; it does not mean you have to switch plans every year.
If you review the changes for 2027 and your current plan will still be available and continues to meet your needs, you can keep it. The important thing is to understand what is changing before making your decision.
Get Ready for 2027
Review your ANOC, organize your doctor and prescription information, and take time to compare your options. Being prepared can help you make a more informed decision about your Medicare coverage for the year ahead.
If you have questions or would like help reviewing your Medicare coverage and options for 2027, you can schedule an appointment with me here.
