Medicare's Annual Enrollment Period opened on October 15 and runs through December 7, 2026. Any change you make takes effect January 1, 2027.
Here's the thing most people miss: your plan changes next year even if you don't. Medicare plans are one-year contracts. Premiums, drug lists, doctor networks, and cost-sharing can all move under the same plan name — and for 2027, several of the numbers are moving more than usual.
The three numbers that matter most for 2027
1. The Part D deductible is going up. The standard prescription drug deductible rises from $615 in 2026 to $700 in 2027. If you take regular medications, that's $85 more out of your pocket before your drug plan starts sharing costs.
2. The out-of-pocket cap on drugs is going up too. The annual cap on Part D spending — the protection that keeps drug costs from running without limit — climbs from $2,100 to $2,400 in 2027. Good protection, but a higher ceiling than this year.
3. Part B premiums are projected to rise. The Medicare trustees project the standard Part B premium at roughly $209.50/month for 2027 (up from $202.90), with the deductible edging from $283 toward $292. CMS announces the final figures later this fall — treat these as close estimates, not final numbers.
Fewer plans, stable averages — and why averages don't help you
CMS expects premiums to stay roughly stable on average for 2027: the average Medicare Advantage premium is projected around $12/month, and the average stand-alone Part D premium around $36/month. But there are fewer plans to choose from — the average person will see about 35 Medicare Advantage plans, down from 39 last year, and some insurers are limiting new enrollment in certain plans and counties.
Averages are comforting and useless at the same time. Your plan's specific premium, drug list, and network are what determine what you pay — and those are exactly the things that change quietly from one year to the next. One genuinely good piece of news: newly negotiated Medicare prices on 15 additional prescription drugs take effect January 1, so if one of your medications is on that list, 2027 could cost you less — another reason to check rather than assume.
The letter you already received
Back in September, your plan mailed you an Annual Notice of Change. It is not junk mail — it's the itemized list of everything changing in your plan for 2027: premiums, copays, which drugs are covered and at what tier, and which doctors and pharmacies stay in network. If it went straight to the recycling bin, that's exactly the reaction the next 50 days are for fixing. (We'll go deeper on the Annual Notice of Change in next week's post.)
Watch out for open-enrollment scams
Every fall, scam calls spike. Remember: Medicare will never call you unsolicited, and no one legitimate will ask for your Medicare number over the phone or offer you a "flex card" in exchange for personal information. If a call feels urgent and pushy, hang up and call a number you trust.
What to do before December 7
1. Find your Annual Notice of Change and read the changes — not the whole booklet, just what changed.
2. List your current prescriptions and your doctors, and check them against your plan's 2027 drug list and network.
3. Compare at least one alternative. With fewer plans and shifting costs this year, "same as last year" is the riskiest assumption you can make.
4. Don't wait for the deadline week — plans and phone lines get congested, and changes must be in by December 7.
Questions about what your plan is doing for 2027? That's what we're here for. Call us at (219) 779-7040 or email customerservice@a2insure.com — we'll walk through your options line by line, no obligation.
Educational only — not tax, legal, or medical advice, and not a recommendation of any specific plan. Anderson & Anderson Insurance LLC serves clients across Northwest Indiana, Chicagoland, and Florida's Tampa–Naples corridor.