Medicare Open Enrollment 2026: What You Need to Know for 2027

Medicare Open Enrollment runs from October 15 through December 7 each year. During this period, people who already have Medicare can review their current coverage and make eligible changes for the coming year. For 2026, the enrollment period applies to coverage beginning January 1, 2027.

Your health care needs, prescription medications, preferred providers and plan costs can change from year to year. Taking time to review your coverage may help you determine whether your current plan remains a good fit.

Review Your Medicare Coverage for 2027

Before making a change, review your plan's premiums, deductibles, copayments, prescription drug coverage, provider networks and out-of-pocket costs. Even if you are satisfied with your current plan, it is worth checking the information your insurer provides about next year's coverage.

You can compare available plans using the official Medicare Plan Finder or call 1-800-MEDICARE. Free, personalized counseling is also available through the State Health Insurance Assistance Program.

What Changes Can You Make During Open Enrollment?

During Medicare Open Enrollment, eligible beneficiaries can:

• Switch from Original Medicare to a Medicare Advantage plan.
• Switch from one Medicare Advantage plan to another.
• Return from Medicare Advantage to Original Medicare.
• Join, change or drop a stand-alone Medicare Part D prescription drug plan.

Changes generally take effect January 1, 2027.

Keep in mind that returning to Original Medicare does not automatically guarantee the right to purchase a Medigap policy without medical underwriting.

Understanding Medigap Coverage

Medigap, also known as Medicare Supplement Insurance, helps cover certain out-of-pocket expenses associated with Original Medicare. Depending on the policy, benefits may include coverage for certain deductibles, copayments and coinsurance.

However, the annual Medicare Open Enrollment Period does not provide a universal right to buy or switch Medigap policies. Outside protected enrollment periods or other guaranteed-issue situations, insurers may be permitted to use medical underwriting, subject to applicable state law.

Before switching from Medicare Advantage to Original Medicare, confirm your eligibility for any supplemental coverage you may need.

Medicare Advantage: Compare Costs and Benefits

Medicare Advantage plans are offered by private insurers approved by Medicare. They provide Part A and Part B benefits and may include prescription drug coverage and additional benefits.

When comparing plans, consider whether your preferred doctors and hospitals participate in the network, whether your medications are covered, and how the plan's premiums, copayments and out-of-pocket limits compare with your current coverage.

Additional benefits can be attractive, but the plan's overall costs, provider access and coverage restrictions deserve careful consideration.

Medicare Part D: Review Prescription Drug Coverage

Prescription drug plans can change their premiums, deductibles, covered medications, pharmacy networks and cost-sharing requirements each year.

Review your plan's Annual Notice of Change and compare its 2027 benefits with other available options. Consider your current prescriptions, preferred pharmacies and expected annual costs rather than evaluating a plan based solely on its monthly premium.

If you have a Medicare Advantage plan that includes prescription drug coverage, review those benefits as part of your overall plan comparison.

What If You Are Not Yet Enrolled in Medicare?

Medicare Open Enrollment is not a substitute for the initial enrollment process.

Your Initial Enrollment Period generally lasts seven months: the three months before you turn 65, your birthday month and the three months afterward. Different rules may apply if you have qualifying employer coverage or another circumstance that affects when you should enroll.

The General Enrollment Period for Medicare Part A and Part B runs from January 1 through March 31. Coverage generally begins the month after enrollment, and late-enrollment penalties may apply in some circumstances.

If you are approaching age 65 or leaving employer-sponsored coverage, review your enrollment options and deadlines carefully.

Make Medicare Review Part of Your Annual Financial Planning

Health care expenses are an important part of retirement planning. Medicare premiums, prescription drug costs and out-of-pocket medical expenses can affect your retirement budget and the amount available for other financial goals.

Reviewing your coverage each year can help you make informed decisions about your health care and retirement finances. Compare available options, verify important details and consider how your choices fit into your broader financial plan.

For additional information, visit Medicare.gov or contact Medicare directly at 1-800-MEDICARE.

This article is for informational and educational purposes only and should not be considered individualized insurance, tax, legal or investment advice. Medicare coverage and enrollment rules can vary based on individual circumstances. Consult the appropriate insurance or Medicare professional regarding your specific situation.

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