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Everything You Need to Know About Medicare Open Enrollment

When it starts and ends, how to choose a Part D or Medicare Advantage plan, and what’s going on with stand-alone Part D coverage

8-minute read

Article 1 out of 8 in Changing Medicare Plans

Tony Pugh,

Updated October 08, 2026

AARP

Reviewed by

Cristina Boccuti, M.A., MPP

En español

Updated October 08, 2026

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AARP (Source: Getty Images (2))

Key takeaways

The chance to change your Medicare plans is Oct. 15 to Dec. 7.
Part D stand-alone plan rate hikes won’t hit all enrollees.
You can make several types of changes to your coverage.
Review each plan’s key features using Medicare Plan Finder.
Several resources can help you choose a Medicare plan.

Each year beginning in October, Medicare gives its nearly 71 million beneficiaries a chance to review coverage and make changes for the coming year.

While experts say too many enrollees overlook this opportunity, evaluating your coverage options during the Medicare Open Enrollment period is important because of annual changes in plan offerings and costs.

Even if you’re happy with your current Medicare Part D prescription drug plan or Medicare Advantage plan, you should still review your coverage. Out-of-pocket costs and provider networks for these private insurance plans can change significantly from year to year. And the companies offering the plans may leave certain coverage areas, newly enter others or stop providing coverage altogether.

So reviewing and comparing your coverage options is always a good idea, especially if your health has changed.

“The bottom line is that it will pay to shop around” during open enrollment “and look past the premium to assess other benefit changes,” says Juliette Cubanski, vice president and director of the Program on Medicare Policy at KFF, a nonprofit health care research organization.

About 51 percent of eligible Medicare beneficiaries are covered through Medicare Advantage plans. Roughly 81 percent of all Medicare enrollees have Part D coverage. Nearly all MA plans cover medical care and prescription drugs.

The average Medicare beneficiary can choose from 28 MA plans with drug coverage in 2027, down from 32 in 2026, KFF says. Among all MA plans with and without drug coverage, the average beneficiary can choose from 35 plans in 2027, down from 39 in 2026.

When is Medicare open enrollment?

Medicare open enrollment runs from Oct. 15 to Dec. 7 each year. Your coverage selections take effect on Jan. 1, 2027.

This year’s open enrollment for 2027 coverage is particularly important because of ongoing changes among Part D stand-alone drug plans for beneficiaries in original Medicare. Experts say fewer of these plans will be available next year, and premiums for some will rise significantly due to increased use of costly GLP-1 medications, rising drug prices and a more generous Part D benefit due to provisions of a 2022 prescription drug law that revamped coverage requirements. As of June, Part D stand-alone plans cover 25.3 million beneficiaries.

The average monthly premium for stand-alone plans will increase by less than $1, from $35.09 in 2026 to $36 in 2027, says the Centers for Medicare & Medicaid Services. But for the 83 percent of current stand-alone plan enrollees, who don’t receive financial assistance with their drug costs through the federal Extra Help program, the average premium for stand-alone coverage will rise 50 percent from $38.72 this year to $58.20 in 2027, says an analysis by Avalere Health, a health care consulting firm. In addition, the number of stand-alone plans available in the U.S. will fall 12 percent from 360 this year to 316 in 2027, according to Avalere and a KFF analysis.

For 2027, original Medicare beneficiaries will be able to choose from nine stand-alone Part D plans, on average. That includes 19 states and Washington, D.C., with a choice of nine stand-alone plans, 15 states with eight plans and eight states with 10 plans.

Not all stand-alone plan enrollees face rate hikes

Your actual 2027 premium for Part D stand-alone coverage, however, could be higher or lower than CMS and Avalere averages depending on your plan provider, where you live and the coverage options you choose.

“Definitely look at your current plan and what’s changing for 2027, and look at other plan options as well,” says Kylie Stengel, a principal at Avalere Health. Among the 83 percent of stand-alone plan enrollees who aren’t in Extra Help, 21 percent are in plans that will have a monthly premium increase of $30 or more next year, Avalere estimates. But 27 percent are in plans facing a premium change of less than $5 in 2027, and 14 percent are in plans that will see a premium decrease of $1 to $5 next year.

So average premiums don’t always tell the whole story, Stengel says.

“We do see some plans that are having more significant premium increases and then others that are remaining stable or even decreasing slightly,” Stengel says.

Medicare Advantage and stand-alone plan enrollees have a $2,400 annual out-of-pocket spending cap for Part D-covered prescriptions in 2027. That’s $300 more than in 2026.

Lost subsidies’ effect on premiums, plan availability

The decision by CMS to end a temporary program that would have provided federal subsidies to stand-alone plans next year “did not result in substantially higher across-the-board” premiums for the plans in 2027, “but still likely affected premium levels,” KFF says.

However, the nonprofit says the canceled subsidies are “possibly related” to the loss next year of all zero-premium Part D stand-alone plans available to people not enrolled in the Extra Help program. Four million such beneficiaries enrolled in these plans this year will face higher stand-alone Part D premiums next year, according to KFF.

The canceled subsidies could also be related to monthly hikes of $50 or more next year for some stand-alone plan enrollees who remain in their current plan, KFF says.

For the 32 million Medicare Advantage enrollees in plans that include prescription drug coverage, the average monthly Part D premium is projected to fall 38 percent, from $11.32 in 2026 to $7 in 2027, after applying MA rebates that can be used to lower or eliminate Part D premiums, CMS says.

While the average Medicare beneficiary can choose from 28 MA plans with drug coverage in 2027, plan availability varies by state and region. In 26 states and Puerto Rico, the average Medicare beneficiary will have at least 20 MA plans with drug coverage to choose from in 2027, KFF says. Beneficiaries in nine states and Washington, D.C, on average, will have fewer than 10 options to choose from.

But there will be no MA plans available in 181 U.S. counties next year, up from 67 in 2026, according to an analysis by Modern Healthcare magazine. That’s forcing at least 3.8 million people — a program record — to find new Medicare coverage next year due to MA plans leaving local markets, the magazine reports. In 2026, as many as 2.9 million MA enrollees were left without coverage due to plans pulling out of their areas, according to researchers at Johns Hopkins University.

What changes can I make during open enrollment?

Because insurers may make changes to their costs and coverage, you should investigate your options carefully. If you miss open enrollment, you may not have another chance to switch until next year, except in limited circumstances.

If you have original Medicare:

You can sign up for a Part D prescription plan or switch from one Part D plan to another.
You can leave original Medicare and choose a private Medicare Advantage plan.

If you have Medicare Advantage:

You can switch from one MA plan to another.
You can leave MA for original Medicare and choose a Part D prescription plan.

You can get a second chance to make changes during MA’s special open enrollment period Jan. 1 through March 31. That includes switching from one MA plan to another or returning to original Medicare and getting a stand-alone Part D prescription plan.

But switching from an MA plan to original Medicare can be risky if you intend to supplement that coverage with a Medigap policy that helps cover out-of-pocket expenses. Medigap insurers in most states can deny coverage because of your pre-existing health conditions or charge you more based on your health or age if you had Medicare Part B for more than six months or had MA for more than 12 months.

How do I prepare for open enrollment decisions?

If you have original Medicare, most people buy a separate Part D plan to cover prescription drugs. A review of your Part D options every year is important to make sure you have the best plan for the next year.

First, review your annual notice of change. If you have Part D, your plan must send you a notice by the end of September outlining revisions to your costs and coverage. Make sure your prescriptions remain covered, and find out if your premiums and other out-of-pocket costs will rise.

Next, review all Part D options in your area. Use the Medicare Plan Finder to compare them.

Confirm the plan includes all your medications. They can change their list of covered drugs, called a formulary, from year to year. If your drugs aren’t listed, they won’t be subject to 2027’s $2,400 spending cap.
Learn what you could pay in total — premiums plus out-of-pocket costs — for your Part D coverage. A plan with low premiums may have higher total expenses if the amount you have to pay for your prescriptions after you’ve met your deductible is high.
Make sure your preferred pharmacies are included.
Find out if your drugs have coverage requirements such as prior authorization or step therapy.

If you have Medicare Advantage, first, read your letter. Medicare Advantage plans send members an annual notice of change by the end of September each year. It explains revisions in benefits, costs, covered drugs and provider networks that take effect Jan. 1.

Next, compare Medicare Advantage plans in your area using the Medicare Plan Finder and its Medicare Advantage in-network provider directory. Learn details such as:

Premiums and out-of-pocket costs for your typical medical care.
A plan’s in-network list of providers.
Covered drugs and how much you’ll pay for them.
Doctors, facilities and other providers. Check the plan’s website or ask your doctors if they participate.
Extra charges for out-of-network providers or facilities. Some plans impose higher copayments if you don’t use participants on their list. Others don’t cover out-of-network providers except for emergencies.
A plan’s maximum limit on out-of-pocket health care costs. Medicare Advantage plans are required to limit your Part A and Part B expenses, different from the $2,400 ceiling for prescription drugs. For 2027, the maximum limit is $9,850 for in-network services and $14,800 for a combination of in- and out-of-network services. Plans can set a lower limit if they want.
Potential special provisions for chronic conditions.
The plan’s star ratings, which grade using several quality measures.
Whether the plan offers other supplemental coverage, such as dental, hearing and vision care.

Get help choosing a Medicare plan

The following resources can help when making open enrollment decisions.

State Health Insurance Assistance Programs (SHIPs) are available in each state for one-on-one assistance from trained counselors and group seminars during open enrollment season. They can educate you about state-specific rules and help you figure out whether you are eligible for financial help with premiums and out-of-pocket costs.

Medicare Plan Finder compares all Part D and Medicare Advantage plans in your area. And for the first time in 2026, the plan finder will list some MA plans’ in-network providers. You also can call 800-MEDICARE (800-633-4227) or use its live chat tool 24 hours a day, seven days a week, except for some federal holidays.

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Contributing: Kimberly Lankford

This story, originally published Sept. 22, 2022, was updated with information about the 2027 open enrollment season.

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About the author

Tony Pugh is an award-winning writer and editor covering Medicare for AARP. He has also covered Medicare for Bloomberg Law and as a national correspondent for Knight Ridder/McClatchy Newspapers.

About the reviewer

Cristina Boccuti, vice president of health security at the AARP Public Policy Institute, previously worked at West Health, the Kaiser Family Foundation, the U.S. Department of Health and Human Services, the Medicare Payment Advisory Commission, The Urban Institute and the U.S. Government Accountability Office. She earned her master’s degree in speech-language pathology from George Washington University and her master’s in public policy from Georgetown University.