Medicare Open Enrollment Ends December 7: 7 Changes to Check Before 2027

Medicare's annual open enrollment period runs from October 15 through December 7, 2026, and any change you make takes effect January 1, 2027. If you do nothing, most plans renew automatically, but they renew with next year's premiums, drug lists and doctor networks, not this year's. These are the seven changes most worth checking before the deadline.

What you can do during open enrollment

• Switch from Original Medicare to a Medicare Advantage plan, or back.
• Switch from one Medicare Advantage plan to another.
• Join, drop or switch a Part D prescription drug plan.

If you miss December 7, people already in a Medicare Advantage plan get one more chance: from January 1 to March 31, they can switch to another Advantage plan or return to Original Medicare. People in Original Medicare with a stand-alone drug plan generally do not get that second window.

1. The Part D out-of-pocket cap rises to $2,400

Since 2025, Medicare drug coverage has had a hard annual cap on what you pay for covered drugs. The cap is $2,100 in 2026 and rises to $2,400 in 2027. Once you hit it, you pay nothing more for covered Part D drugs for the rest of the year. If you take expensive brand-name or specialty drugs, budget for reaching the cap earlier in the year, and remember it only counts drugs on your plan's formulary.

2. The maximum Part D deductible rises to $700

Plans can charge a deductible of up to $700 in 2027, up from $615 in 2026. Many plans charge less, or waive the deductible for low-cost generics, so this is a real point of comparison between plans. A plan with a slightly higher premium but no deductible on your drugs can come out cheaper over the year.

3. Lower negotiated prices on 15 more drugs

Starting January 1, 2027, Medicare's negotiated prices take effect for 15 more drugs, including Ozempic, Rybelsus and Wegovy, the inhalers Trelegy Ellipta and Breo Ellipta, and the diabetes drugs Janumet and Tradjenta. They join the 10 drugs, such as Eliquis, Jardiance and Xarelto, whose negotiated prices began in 2026. These are the prices Medicare pays manufacturers, not your copay, but they can lower what you pay in coinsurance. Our full rundown of the 15 drugs with 2027 negotiated prices lists each drug and the discount.

4. A Part D premium subsidy is ending

A temporary federal program that held down stand-alone Part D premiums ends at the close of 2026. CMS has projected only modest price increases for most people, but premiums vary widely by plan and region, and some plans will rise more than others. Do not assume your 2026 premium carries over; check the 2027 figure on your plan's Annual Notice of Change.

5. The 2027 Part B premium is still pending

The standard Part B premium is $202.90 a month in 2026. As of mid-October, CMS had not announced the 2027 amount; it usually does so in the fall. The 2026 Medicare Trustees Report projected roughly $209.50 a month, with a deductible near $292. Since the premium is usually deducted from Social Security, it directly affects how much of the 3.6% 2027 COLA actually reaches you.

6. Your plan's drug list and pharmacy network may change

Every plan was required to send members an Annual Notice of Change by September 30. It lists next year's premium, deductible, copays and any changes to the formulary (the list of covered drugs) and preferred pharmacies. Look specifically for:

• Drugs moved to a higher cost-sharing tier, or dropped.
• New prior authorization or "step therapy" requirements.
• Changes to which pharmacies are "preferred."

Insulin remains capped at $35 for a month's supply of each covered insulin product, in every Part D and Medicare Advantage plan.

7. Medicare Advantage networks and extras can shift

Medicare Advantage plans can drop doctors and hospitals from their networks, change copays and trim supplemental benefits such as dental, vision, hearing and over-the-counter allowances. Some plans also exit a county entirely, and if yours is leaving you will get a separate notice and a special enrollment period. Before you renew, confirm that your doctors and the hospitals you would use are in the plan's 2027 network, and compare the plan's maximum out-of-pocket limit for medical care.

A 20-minute checklist before December 7

1. Gather your prescriptions: name, dose and how often you take each one.
2. Read your Annual Notice of Change, or call the plan to request it.
3. Enter your drugs into Medicare's Plan Finder and sort by total estimated yearly cost, not just premium.
4. Confirm your doctors, hospitals and pharmacy are in-network for 2027.
5. If your income is limited, ask about Extra Help with drug costs and your state's Medicare Savings Programs.
6. Enroll before December 7 and keep the confirmation number.

Free, unbiased help is available from your State Health Insurance Assistance Program (SHIP). Be wary of unsolicited calls promising "new benefits"; Medicare will not call you to sell a plan.

You can compare every plan available in your ZIP code with Medicare's official Plan Finder.

Figures are current as of October 18, 2026. This article is for general information and is not insurance, medical or legal advice.