Medicare Open Enrollment 2026: 7 Things to Check

Medicare Open Enrollment ends December 7. Here's what retirees should review now to avoid unexpected healthcare costs and coverage changes in the new year.

By Brent Meyer | Founder & Editor, SafeMoney.com
The Open Book on Retirement

November is a good time to review your retirement finances. But there's one important decision that shouldn't wait until the end of the year: your Medicare coverage.

You may be happy with your current plan. Your doctors are familiar, your prescriptions are covered, and your monthly premiums fit your budget.

But will everything work the same way in 2027?

Not necessarily.

Medicare plans can change their premiums, deductibles, prescription drug coverage, provider networks, and other benefits from one year to the next.

That means a plan that worked well in 2026 might not be the best fit for your needs in 2027.

Medicare Open Enrollment runs from October 15 through December 7, 2026. Changes made during this period generally take effect January 1, 2027.

You don't have to change plans every year. But reviewing your coverage is one of the more practical financial decisions you can make before the new year begins.

Quick Answer: What Should You Do During Medicare Open Enrollment?

If you're already enrolled in Medicare, review your current coverage before December 7, 2026.

Check your plan's 2027 premiums, deductibles, prescription drug coverage, provider network, and out-of-pocket costs. Compare your current plan with other available options using Medicare's official Plan Finder.

If your current coverage still meets your needs, you may not need to make a change.

But if your medications, doctors, or expected expenses have changed—or your plan is changing for 2027—it's worth comparing your options before the deadline.

The goal isn't necessarily to find a different plan. It's to make sure your existing plan still makes sense for you.

Key Takeaways

• Medicare Open Enrollment ends December 7, 2026, for coverage changes generally effective January 1, 2027.
• Medicare Advantage and Part D prescription drug plans can change their benefits and costs annually.
• Your Annual Notice of Change explains important changes to your existing plan.
• A low monthly premium doesn't necessarily mean lower total healthcare costs.
• Provider networks, prescriptions, pharmacies, and out-of-pocket expenses deserve careful review.
• Original Medicare, Medicare Advantage, and Medigap involve different coverage arrangements and enrollment rules.
• If you take no action, your existing coverage generally continues if the plan remains available and you remain eligible, but its terms may change.
• Reviewing Medicare is also an opportunity to revisit your overall retirement healthcare budget.

1. Your Medicare Plan Can Change Even When You Don't

One of the most common misconceptions about Medicare is that once you've selected a plan, your coverage will remain essentially the same.

But private Medicare plans generally operate on annual contracts and can change from year to year.

For example, a Medicare Advantage plan may change its provider network or cost-sharing requirements.

A Part D prescription drug plan may change its formulary—the list of medications it covers—or how it places drugs into different cost-sharing tiers.

Your plan may also change its monthly premium, deductible, or other expenses.

These changes don't necessarily mean the plan is becoming worse.

They mean you should understand what you're agreeing to continue using.

Look for Your Annual Notice of Change

If you're enrolled in a Medicare Advantage or Part D plan, your plan generally sends an Annual Notice of Change, often called an ANOC, explaining important changes for the following year.

Plans generally provide this notice by September 30.

Review it for changes involving:

• Monthly premiums.
• Deductibles and copayments.
• Prescription drug coverage.
• Provider networks.
• Out-of-pocket limits.
• Additional benefits.
• Coverage restrictions and requirements.

If you haven't reviewed your notice, now is a good time to find it.

What to ask: If I keep this plan, what will actually be different beginning January 1?

2. Make Sure Your Doctors and Hospitals Are Still Covered

For many retirees, maintaining access to trusted healthcare providers is a major priority.

But provider networks can change.

A physician or hospital that participates in your Medicare Advantage plan today may not necessarily participate under the same terms next year.

Depending on the plan, receiving care outside its network could result in higher costs or limited coverage.

Don't Rely on Last Year's Information

Before keeping or changing a Medicare Advantage plan, verify:

• Your primary care physician.
• Your specialists.
• Your preferred hospitals.
• Any facilities where you receive ongoing treatment.
• Referral and prior authorization requirements.

Use the plan's current 2027 provider information and confirm important details directly with your healthcare providers.

Provider participation can change, so even published directories may not always reflect the most recent arrangements.

What to ask: Can I continue seeing the healthcare professionals I trust under the plan's 2027 terms?

3. Review Every Prescription You Take

Prescription drug coverage is one of the most important reasons to review Medicare annually.

A plan that was economical this year may become more expensive if the medications you take are placed into different cost-sharing tiers, become subject to new restrictions, or are no longer covered in the same way.

Pharmacy arrangements can also affect your costs.

Your Prescription Checklist

Make a current list of:

• Medication names.
• Dosages.
• How often you take each medication.
• Your preferred pharmacies.
• Any specialty medications.
• Any medications your doctor expects you to begin taking.

Then use Medicare's Plan Finder to compare estimated annual prescription costs under available plans.

Look beyond the monthly premium.

A plan with a lower premium may still cost more over the year depending on your prescriptions and pharmacy.

For 2027, use the current year's official Medicare comparison information rather than assuming your 2026 prescription costs will remain unchanged.

What to ask: What is my estimated total annual prescription cost under each available plan?

Confirmed 2027 Part D Cost Changes

Two federal Part D benefit parameters increase for 2027:

These are federal Part D benefit parameters—not amounts that every beneficiary will necessarily pay. The out-of-pocket threshold applies to covered Part D drugs under applicable counting rules, including certain payments made on your behalf. It is not a cap on all healthcare expenses and does not include plan premiums or noncovered drugs. Once you reach the threshold, you pay no out-of-pocket costs for covered Part D drugs for the rest of the calendar year.

Individual plans may have a lower deductible or no deductible. Your actual costs depend on your plan, covered prescriptions, pharmacy, and eligibility for assistance.

Sources: CMS 2027 Rate Announcement and Medicare.gov: How much does Medicare drug coverage cost?.

4. Compare Total Costs, Not Just Monthly Premiums

A Medicare plan with a $0 additional monthly premium may sound attractive.

But a low premium doesn't necessarily mean low overall healthcare expenses.

Depending on your coverage, you may face deductibles, copayments, coinsurance, and other costs.

And a Medicare Advantage plan's advertised $0 premium generally doesn't eliminate the requirement to pay your Medicare Part B premium, unless a specific arrangement changes the amount you pay.

Example: Two Hypothetical Plans

These figures are fictional and exclude any Medicare Part B premium or other costs common to both options. They are not actual 2027 plan quotes.

In this example, Plan B has a higher premium but lower estimated total annual costs.

That doesn't make Plan B the better choice for every person.

Provider access, covered services, financial risk, and individual healthcare needs also matter.

The lesson is simple:

Compare what you may actually spend over the year—not just what the plan costs each month.

5. Understand the Difference Between Original Medicare and Medicare Advantage

Medicare beneficiaries generally have two main ways to receive Medicare-covered hospital and medical services.

Original Medicare

Original Medicare includes Part A and Part B.

Beneficiaries can generally use doctors and hospitals that accept Medicare, without being restricted to a Medicare Advantage plan's provider network.

Original Medicare doesn't include a general annual out-of-pocket maximum for Part A and Part B services.

Many beneficiaries consider supplemental coverage, such as Medigap, to help pay certain out-of-pocket costs.

Prescription drug coverage is generally obtained separately through a Part D plan unless the beneficiary has other qualifying coverage.

Medicare Advantage

Medicare Advantage, also called Part C, is offered through Medicare-approved private insurers.

These plans provide Medicare Part A and Part B benefits, subject to applicable rules, and most include prescription drug coverage.

They may offer additional benefits, but networks, prior authorization requirements, and cost-sharing arrangements can differ.

Medicare Advantage plans have annual out-of-pocket limits for covered Part A and Part B services, although the limits and applicable costs vary by plan.

An Important Medigap Consideration

If you're considering leaving Medicare Advantage and returning to Original Medicare, don't assume you'll automatically qualify to purchase a Medigap policy at the price or coverage level you want.

Federal and state Medigap enrollment protections depend on timing and circumstances. Outside protected enrollment situations, medical underwriting may apply in some states.

Before switching coverage, confirm the availability and terms of any supplemental insurance you expect to use.

6. Don't Overlook Changes in Your Health

Your health needs may be different from what they were when you selected your current plan.

Perhaps you've started seeing a specialist.

Maybe you now take additional medications.

You may be planning a procedure or receiving ongoing treatment.

Or you may simply want more flexibility in choosing healthcare providers.

These changes can affect which Medicare arrangement best fits your circumstances.

For example, a plan with lower premiums may not be ideal if your preferred specialists aren't in its network.

Another plan might offer more suitable coverage for certain medications but have different medical cost-sharing requirements.

The important thing is to compare plans based on your expected needs—not just your experience from several years ago.

What to ask: If I were selecting Medicare coverage for the first time today, would I still choose my current arrangement?

7. Understand What Happens if You Do Nothing Before December 7

Not everyone needs to change Medicare plans during Open Enrollment.

If your current coverage continues to be available and you remain eligible, it will generally renew under the applicable 2027 terms.

But automatic renewal doesn't mean every benefit and cost stays the same.

If your plan is terminating, changing its service area, or otherwise affecting your eligibility, different notices and enrollment rights may apply.

That's why reviewing the information your plan sends you matters.

What If You Miss the Deadline?

The October 15–December 7 Annual Open Enrollment Period is an important opportunity to make changes to Medicare Advantage and prescription drug coverage.

Some beneficiaries may qualify for Special Enrollment Periods under specific circumstances.

There is also a separate Medicare Advantage Open Enrollment Period from January 1 through March 31 for people already enrolled in Medicare Advantage, with particular permitted changes.

However, that period isn't a general second opportunity for everyone with Medicare to make any change they want.

Don't assume you can make the same changes after December 7.

How Medicare Decisions Affect Your Retirement Budget

Healthcare is a major part of retirement financial planning.

And Medicare decisions can affect how much of your retirement income remains available for other expenses.

Consider a hypothetical retiree who budgets $450 per month for Medicare premiums, prescriptions, and other routine healthcare expenses.

If those expenses increase to $575 per month, that's an additional $125 each month.

Over a year, the difference is $1,500.

That money may need to come from Social Security, pension income, savings, or investment withdrawals.

For retirees living on a fixed or carefully managed income, these changes matter.

Reviewing Medicare coverage is therefore about more than insurance.

It's also about understanding how healthcare costs fit into your retirement lifestyle.

Your November Medicare Review Checklist

Before December 7, work through the following questions:

• Have I reviewed my 2027 Annual Notice of Change?
• Do I understand my plan's 2027 premiums and deductibles?
• Have I checked my doctors, specialists, and hospitals?
• Have I entered all my prescriptions into Medicare Plan Finder?
• Have I compared my preferred pharmacies?
• Do I understand the plan's out-of-pocket costs and limits?
• Have I reviewed coverage restrictions and prior authorization requirements?
• If considering a change, have I checked the implications for Medigap and other coverage?
• Have I compared total expected annual costs rather than premiums alone?
• Have I confirmed whether any change I want must be made by December 7?

You don't need to switch plans simply because Open Enrollment is happening.

You do need to make sure you're comfortable with the coverage and costs you may have in 2027.

Where to Compare Medicare Plans and Get Help

Start with official Medicare resources.

Medicare Plan Finder: https://www.medicare.gov/plan-compare/

You can use this tool to compare Medicare Advantage and prescription drug plans available in your area, including coverage and estimated costs.

Medicare: https://www.medicare.gov/

Call Medicare: 1-800-MEDICARE (1-800-633-4227).

You can also contact your State Health Insurance Assistance Program (SHIP) for free, personalized Medicare counseling.

SHIP locator: https://www.shiphelp.org/

Licensed insurance professionals may also help explain Medicare plan options, but their product availability and compensation arrangements may differ.

Ask which plans they represent and whether they can help you compare alternatives outside their offerings.

Frequently Asked Questions About Medicare Open Enrollment 2026

When does Medicare Open Enrollment end in 2026?

Medicare's Annual Open Enrollment Period ends December 7, 2026. Changes made during this period generally take effect January 1, 2027.

Do I have to change my Medicare plan every year?

No. If your current coverage remains available and meets your needs, you may be able to keep it. However, you should review its annual changes because costs, networks, and benefits may differ in 2027.

Can I change from Medicare Advantage to Original Medicare during Open Enrollment?

Yes. During the Annual Open Enrollment Period, eligible beneficiaries can generally switch from Medicare Advantage to Original Medicare. However, obtaining Medigap supplemental coverage may involve separate enrollment rights, availability, and underwriting considerations.

Can I change my Medicare prescription drug plan?

Yes. Eligible beneficiaries can generally join, switch, or drop Part D prescription drug coverage during the Annual Open Enrollment Period, subject to applicable rules. Consider how any change may affect your prescription costs and creditable drug coverage.

Will my Medicare premiums increase in 2027?

Premiums depend on the type of coverage and the specific plan. Official Medicare premiums and private-plan costs should be checked using current 2027 information. Don't assume your 2026 premiums will remain unchanged.

What if my doctor is no longer in my Medicare Advantage network?

Your costs or access to care may change depending on the plan and service. Contact the plan and your healthcare provider to confirm 2027 participation, then compare available alternatives before deciding whether to switch.

Is a $0-premium Medicare Advantage plan really free?

No. A $0 additional plan premium doesn't mean all healthcare is free. You generally still need to pay your Part B premium, and deductibles, copayments, coinsurance, and other costs may apply.

What happens if I miss the December 7 deadline?

You may need to wait for another eligible enrollment period unless you qualify for a Special Enrollment Period. People already enrolled in Medicare Advantage may have certain options during the January 1–March 31 Medicare Advantage Open Enrollment Period, but those options are limited.

Make Your Medicare Review Part of Your Year-End Retirement Checkup

November is a good time to review more than holiday plans and year-end expenses.

It's also an opportunity to make sure your healthcare coverage still fits your needs.

Your doctors may change.

Your prescriptions may change.

Your plan may change.

And your retirement budget may need to change along with them.

The best Medicare plan isn't necessarily the one with the lowest premium or the most advertised benefits. It's the coverage that appropriately fits your healthcare needs, financial circumstances, and preferences.

You don't need to change plans just to make a change.

But taking time to review your options before December 7 can help you enter 2027 with a clearer understanding of your healthcare coverage and potential costs.

Continue Your Retirement Planning With SafeMoney.com

Medicare is only one part of retirement planning.

SafeMoney.com provides educational articles, retirement calculators, and retirement-readiness resources to help you understand how healthcare expenses, income, savings, and other financial considerations may affect your retirement.

You can also explore the SafeMoney.com independent advisor directory to learn about financial professionals and the services they offer.

Not every financial professional provides Medicare insurance services. Licensing, product availability, affiliations, and compensation arrangements vary. Directory inclusion doesn't constitute independent verification or endorsement of an advisor's qualifications or suitability.

A little time spent reviewing your coverage today may help you avoid financial surprises tomorrow.

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Important Consumer Disclosure

This article is for general educational and informational purposes only. It does not constitute individualized Medicare plan advice, insurance recommendations, investment advice, tax advice, legal advice, or a recommendation to enroll in, switch, or terminate any specific insurance plan.

Medicare plan availability, benefits, premiums, deductibles, provider networks, formularies, cost-sharing requirements, and enrollment rights vary based on location, eligibility, coverage type, and plan. They may change annually or under applicable rules.

All numerical examples are hypothetical and are not actual Medicare plan quotes, premium estimates, or representations of 2027 coverage.

Information about Medicare enrollment periods and coverage is based on general federal program rules. Special circumstances, state protections, and individual eligibility may affect available options.

Consumers should verify current coverage details and enrollment rights through Medicare.gov, their insurance plans, and qualified Medicare counselors or licensed insurance professionals.

SafeMoney.com is an independent educational platform and is not Medicare, the Centers for Medicare & Medicaid Services, or a federal government agency. SafeMoney.com does not endorse any particular Medicare plan through this article.

SafeMoney.com also provides an independent financial advisor directory. Directory inclusion doesn't constitute independent verification, endorsement, or a guarantee of any advisor's qualifications, services, recommendations, or results.

The hypothetical-example disclosure above refers to the illustrative plan comparison and retirement budget example. The Section 3 Part D benefit parameters are official federal figures, not hypothetical examples or plan quotes.

Official Educational References

• Medicare — Official Website: https://www.medicare.gov/
• Medicare — Compare Plans: https://www.medicare.gov/plan-compare/
• Medicare — Joining a Health or Drug Plan: https://www.medicare.gov/basics/get-started-with-medicare/get-more-coverage/joining-a-plan
• Medicare — Medicare Advantage Plans: https://www.medicare.gov/publications/12026-understanding-medicare-advantage-plans.pdf
• Medicare — Medigap Coverage: https://www.medicare.gov/health-drug-plans/medigap
• State Health Insurance Assistance Programs: https://www.shiphelp.org/

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