Medicare Open Enrollment 2026 Guide: Dates, 2027 Part D Changes, and What to Review

Did a thick envelope from your Medicare plan arrive in the mail this fall — and land, unopened, on the kitchen counter? That envelope, and the seven weeks that follow it, may be the most valuable stack of paper you receive all year. Medicare Open Enrollment is your one annual chance to change your coverage, and this year it comes with new 2027 numbers worth knowing.

Here is what the season is, what you can change, the exact figures for 2027, and a simple four-step way to review your plan before the window closes.

1. The Dates: October 15 to December 7, 2026

Medicare Open Enrollment — also called the Annual Election Period — runs from October 15 to December 7, 2026. Any change you make during this window takes effect on January 1, 2027. Miss the December 7 deadline, and in most cases you keep your current coverage for another full year, whether it still fits you or not.

This period is for people who already have Medicare. It is different from the marketplace open enrollment for people under 65, and different from your personal initial enrollment when you first turned 65.

2. What You Can Change During This Window

• Switch from a Medicare Advantage plan back to Original Medicare — or the other way around
• Change from one Medicare Advantage plan to another
• Join, switch, or drop a Part D prescription drug plan if you have Original Medicare
• Change the Part D coverage built into a Medicare Advantage plan by changing plans

One caution deserves emphasis. If you leave Medicare Advantage and want to add a Medigap (Medicare Supplement) policy, in most states the Medigap insurer can review your health history and may charge more or decline you, unless you have a guaranteed-issue right or live in a state with stronger protections. Do not cancel anything until you know exactly where you will land.

3. The 2027 Part D Numbers to Know

Prescription drug costs are where 2027 brings real changes. Under the standard Part D benefit set by the Centers for Medicare & Medicaid Services (CMS):

• The 2027 Part D deductible rises to $700, up from $615 in 2026. (Your plan may charge less, but not more.)
• The 2027 out-of-pocket cap rises to $2,400, up from $2,100 in 2026. Once your spending on covered drugs reaches $2,400 for the year, you pay $0 for covered drugs for the rest of the year.
• Covered insulin remains capped at $35 per month.

These figures apply inside Medicare Advantage plans that include drug coverage, too — not only in stand-alone Part D plans. If you take even one expensive medication, the distance between the old cap and the new one is worth real money, and it is one more reason this year's review matters.

4. Step One: Read Your Annual Notice of Change

Every fall, your plan mails an Annual Notice of Change (ANOC), which should arrive by the end of September. It lists exactly what is changing in your plan for next year: premium, deductible, copays, drug coverage, and provider networks. Fifteen minutes with this document and a highlighter tells you whether standing pat is safe — or expensive.

5. Step Two: Check Your Medications Against Next Year's Formulary

Every drug plan has a formulary — its list of covered drugs, organized into price tiers. Plans may move a drug to a higher tier, add restrictions such as prior authorization, or drop a drug entirely. A plan that covered your prescriptions beautifully in 2026 can quietly cost you far more in 2027. Take your actual medication list — names and dosages — and check each one against any plan you are considering, including whether your pharmacy is in the plan's network at its best prices.

6. Step Three: Confirm Your Doctors and Hospitals Are Still In Network

If you are in a Medicare Advantage plan, networks change. A hospital system or a longtime doctor can leave your plan's network for next year, and the first place you will see it is the ANOC or the plan's provider directory. A few minutes of checking now beats a surprise bill in February.

7. Step Four: Compare Total Yearly Cost — Not Just the Premium

A low premium can hide a high total. For each plan you consider, add together the premium, the deductible, expected drug costs at your pharmacy, and copays for the doctors you actually see. The Plan Finder tool at Medicare.gov lets you enter your medications and pharmacy and compares plans on estimated total yearly cost, which is the number that actually matters. Free, unbiased help is also available from your State Health Insurance Assistance Program (SHIP).

8. If You Do Nothing — and One Extra Window Worth Knowing

Doing nothing is also a decision: in most cases your current plan simply renews for 2027, with its new premium and rules attached. That is perfectly fine if you have done the comparison and your plan still fits. It is only a problem when it happens by default, without a look.

One more date helps some readers. If you are in a Medicare Advantage plan and realize in the new year that it does not suit you, the Medicare Advantage Open Enrollment Period runs from January 1 to March 31, when Advantage members can switch Advantage plans or move back to Original Medicare. It is a useful safety net — but it does not apply to stand-alone Part D changes for people on Original Medicare, so December 7 remains the deadline that matters most.

Key Takeaway

Open Enrollment runs October 15 to December 7, 2026, and the choices you make set your 2027 coverage. Next year brings a $700 Part D deductible and a $2,400 out-of-pocket cap, so checking is worth more than usual: read your Annual Notice of Change, re-check your drugs and doctors, and compare plans on total yearly cost rather than premium alone. If your current plan still wins that comparison, you have earned your peace of mind — and if it does not, you still have time to move.

This article was written with the help of generative AI.

For general information only, not medical advice.

Consult a qualified professional for your situation.