Reviewed by Scotty Lewis, CSA, RSSA, licensed independent insurance agent
Medicare’s Annual Enrollment Period runs October 15 through December 7, 2026. This year’s rate news gives us a good reason to sit down and take a closer look at your coverage before you decide anything.
Open Enrollment 2027: Quick Answers
When is Medicare Annual Enrollment for 2027 coverage?
Medicare’s Annual Enrollment Period runs October 15 through December 7, 2026, and changes take effect January 1, 2027. Your plan should have mailed your Annual Notice of Change by September 30, so you can see what is changing before the period opens.
What can I change during open enrollment?
If you have Medicare Advantage, you can switch to another Medicare Advantage plan or return to Original Medicare, and you can change your Part D drug plan. If you have Original Medicare, you can join a Medicare Advantage plan or a drug plan.
What happens if I do nothing during open enrollment?
If your plan is continuing, it generally renews for 2027 with the changes listed in your Annual Notice of Change. That can mean a different premium, drug list, network, or out-of-pocket maximum, so read your notice before you decide to stay.
Can I change plans after December 7?
If you are in a Medicare Advantage plan, yes. From January 1 to March 31 you can make one change: switch to another Medicare Advantage plan, or return to Original Medicare and join a drug plan. (Medicare.gov)
Beyond the headline
CMS finalized 2027 payment and policy updates for Medicare Advantage and Part D, including an average payment increase of about 2.48% to insurers. You may have seen this framed as a win for the insurance industry. It is. But a rate increase to insurers doesn’t automatically mean a lower premium or richer benefits on your end.
Outcomes vary by plan and by county. Years like this one tend to bring real plan redesigns, not just updated numbers on a press release. A plan that worked well for you in 2026 could look different in 2027, even if the name stays the same.
Four things worth checking before you re-enroll
- Your Annual Notice of Change (ANOC). This letter arrives every September and spells out exactly what’s changing about your plan for 2027: premium, deductible, copays, covered benefits. Read it carefully. Don’t skim it.
- Your drug formulary. Covered medications and pricing tiers get updated annually. A prescription that was affordable this year could shift tiers or drop off the list entirely next year. If you take multiple medications, this one matters.
- Your provider network. Confirm your doctors, specialists, and hospitals are still in-network for 2027. Don’t assume nothing’s changed. Network contracts shift every year, and a surprise out-of-network bill is the last thing you need.
- Your out-of-pocket maximum. Even if your monthly premium stays flat, changes to your plan’s cost-sharing structure could affect what you’d owe during a hospital stay or after a procedure. Compare the 2026 and 2027 numbers side by side.
How to compare plans side by side
Once you have read your notice, the Medicare Plan Finder lets you compare plans in your ZIP code. You can enter your own medications and pharmacies to estimate your yearly out-of-pocket costs, check whether your doctors are in each plan’s network, and see quality and customer service ratings from current members. If you would rather talk it through, 1-800-MEDICARE (1-800-633-4227) is available around the clock except some federal holidays, and the free Tennessee SHIP counselors can be reached at 1-877-801-0044. We are happy to do the comparison with you as well, at no cost.
After December 7: the January to March window
If you are in a Medicare Advantage plan and find a problem after the new year starts, you have one more chance. The Medicare Advantage Open Enrollment Period runs from January 1 to March 31. You can make one change: switch to another Medicare Advantage plan, or drop your plan and return to Original Medicare, adding a separate drug plan if you need one. A change takes effect the first day of the month after your plan gets your request. This period is not for people with Original Medicare: it will not let you join a Medicare Advantage plan or a drug plan. (Medicare.gov)
Why starting early helps
You’ve got a 54-day window. That sounds like plenty of time, but it goes fast. We see it every year here in Tennessee: folks wait until the last week of November, then feel rushed into a decision they’re not confident about.
Starting your review in mid-October gives you room to compare plans, ask questions, and talk through your options with someone who knows the local carrier landscape. There’s no cost to review, and no obligation to switch. Sometimes staying put is the right call. But you should know that for sure, not just hope it is.
An industry-wide rate increase isn’t a substitute for knowing what your own plan looks like in 2027. If you’re on a Medicare Advantage or Part D plan in Tennessee, take 20 minutes this fall to pull out your ANOC, check your formulary, and verify your doctors are still in-network. That small investment of time can save you real money and real headaches next year.
You have until December 7 to make a change if one makes sense. We’re here if you want help sorting through it.
Sources:
- Centers for Medicare & Medicaid Services, “2027 Medicare Advantage and Part D Rate Announcement,” cms.gov
- Healthcare Dive, “CMS finalizes higher Medicare Advantage rates for 2027,” healthcaredive.com
- American Hospital Association, “CMS finalizes Medicare Advantage rates for CY 2027,” aha.org
- Medicare.gov, Medicare Plan Finder
- Tennessee Department of Disability and Aging, Tennessee State Health Insurance Assistance Program (TN SHIP)
- Medicare.gov, Plan Annual Notice of Change (ANOC)
- Medicare.gov, Understanding Medicare Advantage & Medicare Drug Plan Enrollment Periods
