Every fall, people with Medicare get a window to review their coverage and make changes for the coming year. For 2027 coverage, the Medicare Annual Enrollment Period (AEP) runs from October 15 through December 7, 2026, and any change you make takes effect January 1, 2027. This guide covers what you can change, the 2027 numbers that are already official, and how to review your plan without the stress.
AEP 2027 at a Glance
- Starts: Thursday, October 15, 2026
- Ends: Monday, December 7, 2026
- New coverage begins: January 1, 2027
- Plan details online: 2027 plans are on the Medicare.gov Plan Finder starting in October
- If you make more than one change: the last one your plan receives by December 7 is the one that counts
What You Can Do During AEP
- Switch from Original Medicare to a Medicare Advantage plan
- Switch from a Medicare Advantage plan back to Original Medicare
- Change from one Medicare Advantage plan to another
- Join, switch, or drop a Part D prescription drug plan
What AEP does not cover: Medicare Supplement (Medigap) plans have no annual enrollment window. North Carolina has no Medigap "birthday rule," so outside your initial Medigap open enrollment and certain guaranteed-issue situations, switching Medigap plans usually means answering health questions.
What's Different for 2027
- Part D out-of-pocket cap rises to $2,400 (from $2,100). After you reach it, covered drugs cost $0 for the rest of 2027.
- Part D deductible can be up to $700 (from $615). Many plans charge less, so compare.
- Negotiated prices for 15 more drugs take effect January 1, 2027, including Ozempic, Wegovy, and Rybelsus. See the full list.
- Medicare Advantage out-of-pocket limits: the highest in-network limit a plan can set is $9,850 (from $9,250).
- Plan line-ups changed. In North Carolina, the number of Medicare Advantage plans in many counties went down for 2027, including Wake County (47 plans in 2026, 35 in 2027, not counting Special Needs Plans). See the numbers by county.
2027 Medicare Costs to Know
| Medicare cost | 2027 | 2026 |
|---|
| Part D deductible (most a plan can charge) | Up to $700 | Up to $615 |
| Part D out-of-pocket cap on covered drugs | $2,400 | $2,100 |
| Covered insulin | $35 per month supply, no deductible | $35 |
| Part D base beneficiary premium (used for the late penalty) | $41.33 | $38.99 |
| Medicare Advantage in-network out-of-pocket limit (highest allowed) | $9,850 | $9,250 |
| Medicare Advantage combined in- and out-of-network limit (PPOs) | $14,800 | $13,900 |
| Part B standard monthly premium | Not yet announced | $202.90 |
| Part B annual deductible | Not yet announced | $283 |
| Part A inpatient deductible (per benefit period) | Not yet announced | $1,736 |
Sources: CMS CY 2027 Rate Announcement (Part D deductible and out-of-pocket threshold); CMS CY 2027 Part D national average bid release (base beneficiary premium); CMS CY 2027 MOOP limits; CMS "2026 Medicare Costs." 2027 Part A and Part B amounts had not been announced as of October 1, 2026.
About Part B: CMS usually announces next year's Part B premium and deductible in the fall. Until it does, any 2027 Part B number you see is an estimate. We'll update this page when CMS releases the official figures.
Medicare Advantage and Part D plans set their own premiums, copays, and drug lists within these federal rules, so two plans in the same county can cost very different amounts for the same person.
A Quick Refresher on the Parts of Medicare
- Part A (hospital insurance): inpatient hospital stays, skilled nursing facility care, hospice, and some home health care.
- Part B (medical insurance): doctor visits, outpatient care, preventive services, and medical equipment.
- Part C (Medicare Advantage): private plans approved by Medicare that cover everything in Parts A and B, and often include drug coverage and extras such as dental or vision.
- Part D (prescription drug coverage): offered by private insurers, either as a standalone plan or built into a Medicare Advantage plan.
Your AEP Checklist
- Read your Annual Notice of Change (ANOC). Your plan had to send it by September 30. It lists every change to premiums, copays, networks, and covered drugs for 2027. If your plan is ending, you'll get a non-renewal letter instead, and you'll want to pick a new plan.
- Confirm your doctors and hospitals. Networks change. Check that your providers will still be in-network in 2027.
- List every prescription. Include the dose and how often you take it, then check each plan's 2027 drug list and tier.
- Check your pharmacy. Preferred pharmacies can mean lower copays.
- Compare total yearly cost, not only the premium. Add premiums, deductibles, copays, and expected drug costs.
- Think about the year ahead. Planned surgeries, new diagnoses, travel, or a move can all change which plan fits best.
Other Medicare Enrollment Periods
- Initial Enrollment Period: a 7-month window around your 65th birthday (3 months before, your birthday month, and 3 months after).
- Medicare Advantage Open Enrollment (January 1 – March 31, 2027): if you're in a Medicare Advantage plan, you can make one change, either to another Medicare Advantage plan or back to Original Medicare. Here's how it works.
- General Enrollment Period (January 1 – March 31): for people who didn't sign up for Part B (or premium Part A) when first eligible and don't qualify for a Special Enrollment Period.
- Special Enrollment Periods: triggered by events such as moving, losing employer coverage, or qualifying for Extra Help or Medicaid.
Frequently Asked Questions
When is Medicare open enrollment for 2027?
The Medicare Annual Enrollment Period for 2027 coverage runs from October 15 through December 7, 2026. Changes take effect January 1, 2027.
What happens if I miss the December 7 deadline?
Your current coverage generally continues into 2027. If you're in a Medicare Advantage plan, you can still make one change from January 1 to March 31, 2027. Otherwise you'll usually need a Special Enrollment Period to change plans.
What is the Part D out-of-pocket cap for 2027?
$2,400. Once your out-of-pocket spending on covered Part D drugs reaches $2,400 in 2027, you pay $0 for covered drugs for the rest of the year.
What is the 2027 Part B premium?
It hasn't been announced yet. CMS usually releases the next year's Part B premium and deductible in the fall. The 2026 standard premium is $202.90 a month.
Can I switch Medigap plans during AEP?
AEP doesn't apply to Medigap. In North Carolina, switching Medigap plans outside your initial open enrollment or a guaranteed-issue situation usually requires answering health questions.
Talk It Through With a Local Agent
Triangle Life and Health is an independent agency in Raleigh, licensed since 2013. Our help is free to you. We compare plans from several carriers against your doctors, prescriptions, and budget. Book a free review or call 919-689-6565.
Michael Cubell : Oct 19, 2024, 9:22:38 AM
