The Open Enrollment Period for Medicare Advantage and Medicare Part D Prescription Drug Plans begins October 15 and ends December 7. During this time, Medicare beneficiaries can review their current coverage and make changes for 2027.
Medicare Advantage plans are generally HMO and PPO plans offered by private insurance companies that contract with Medicare to provide Medicare-covered benefits. Many Medicare Advantage plans also include prescription drug coverage. If you enroll in a Medicare Advantage plan that includes prescription drug coverage, you generally cannot enroll in a separate Medicare Part D prescription drug plan.
What does Open Enrollment mean for me?
Our agency helps clients review and enroll in Medicare Advantage and Part D prescription drug plans. Because plan costs, benefits and availability can change from year to year, Open Enrollment is an important opportunity to make sure your current coverage still meets your needs.
There are several Medicare changes to be aware of for 2027:
- Fewer standalone Part D plans: Standalone Part D prescription drug plan options have been reduced to eight plans.
- Changes to Part D costs: The Part D drug deductible is increasing to $700, and the maximum annual out-of-pocket cost for Part D prescription drugs is increasing to $2,400.
- New help with certain GLP-1 medications: Some Medicare beneficiaries may qualify for help paying for certain GLP-1 weight loss medications through the new Medicare GLP-1 Bridge program.
We can help you compare available options using tools provided by Medicare.gov. In many cases, we have your prescription drug list stored there and can quickly pull it up to compare available plans for 2027.
We can also meet with you to review your options. CMS regulations require a Scope of Appointment form before a scheduled meeting to discuss Medicare Advantage or Medicare Part D Prescription Drug Plans. We will send this form when you request a meeting, and it must be completed before your appointment.
Is Open Enrollment the only time I can change my plan?
No. You may also be able to enroll in or make changes to a Medicare Advantage or Part D plan at other times of the year if you qualify for a Special Enrollment Period.
Certain life events or changes in circumstances may qualify you for a Special Enrollment Period, such as moving out of your plan’s coverage area, losing group coverage, or becoming eligible for or losing eligibility for certain assistance programs.
If you need to make a change outside of Open Enrollment, contact us to find out whether you may qualify for a Special Enrollment Period.
What if I have a Medicare Supplement plan?
Medicare Supplement plans are not governed by the annual Medicare Open Enrollment Period. You can apply to change a Medicare Supplement plan at other times during the year, although your ability to enroll in a new plan may depend on the plan’s underwriting requirements. You may need to answer health questions and receive approval before enrolling.
There are also certain circumstances in which you may have guaranteed issue rights for Medicare Supplement coverage. These can include losing certain types of coverage or making specific changes involving Medicare Advantage.
Because eligibility and guaranteed issue rights depend on your individual circumstances, contact us to discuss your options.
With changes to Part D plan availability, prescription drug costs and new programs such as the Medicare GLP-1 Bridge, this year’s Open Enrollment is a good opportunity to take another look at your coverage.
Contact us to review your Medicare Advantage or Part D options for 2027 and discuss which plans may fit your health needs and budget.
Updated October 5, 2026
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