Medicare Open Enrollment 2027: What to Review by Dec. 7

$2,400. That's the new 2027 cap on what you pay out of pocket for covered Part D drugs, up from $2,100. It's one of several Medicare numbers changing this year. Medicare open enrollment 2027 runs from October 15 to December 7, 2026, and anything you choose takes effect January 1, 2027. If your current plan is still offered and you do nothing, it usually renews with whatever changes your insurer has made. Those changes are the reason to look before the window closes.

Here's the short version. Drug costs are going up at the top end. You'll have fewer standalone Part D plans to pick from. Some Medicare Advantage plans are leaving certain areas. And the 2027 Part B premium is still only a projection. Below is what's official, what isn't yet, and how to check your own plan.

Key dates for Medicare open enrollment 2027

Medicare has three different windows. People mix them up all the time.

December 7 is the usual end date for the annual window. Check it on Medicare.gov anyway, and don't wait until the last day. Plan Finder lookups, pharmacy checks, and calls to the insurer all take longer than you'd expect in early December.

What's official and what's still a projection

A lot of 2027 coverage online blends confirmed numbers with estimates. Here they are separated.

Sources: CMS, Medicare Advantage and Medicare Prescription Drug Programs Expected to Remain Stable in 2027; Medicare Rights Center, New Insights on 2027 Medicare Advantage and Part D Offerings, Oct 2026; Kiplinger, Medicare 2027 Projections; Forbes, 2027 Social Security: What the 3.6% Raise Means for Medicare Patients, Oct 2026.

CMS usually releases the official Part B premium and the income-based surcharges in November. Until then, treat $209.50 as an estimate. We'll update this page when the official figures are out.

What's changing in 2027

Part D: higher cap, higher deductible

The out-of-pocket cap goes up to $2,400 and the standard deductible to $700 (GoodRx). Premiums don't count toward the cap. If you take expensive medications, you'll reach the cap sooner in the year, but the ceiling itself is $300 higher.

The Part D premium subsidy is ending

For the past few years, a temporary CMS program called the premium stabilization demonstration held down standalone Part D premiums. It ends for 2027 (AP via WLOX). The projected average premium barely moves. But an average can hide big swings. Your plan's premium could rise much more than $1, or much less. The only way to know is to check your plan's actual 2027 price.

Fewer plans to choose from

The average beneficiary will have 9 standalone Part D plans in 2027, down from 11. That's the fourth straight year the number has fallen (Medicare Rights Center). Medicare Advantage plans are also leaving some areas (AP via Fox19).

Lower negotiated prices on 15 drugs

On January 1, 2027, new Medicare-negotiated prices take effect for 15 drugs, including Ozempic, Wegovy, and Rybelsus (AP via WCAX). If you take one of them, compare plans using your exact prescription list. Plans can still differ on how they cover a drug.

The math, in dollars

Numbers make more sense when you add them up for one person.

Highest Part D spending for someone who hits the cap:

• Out-of-pocket cap: $2,400. The $700 deductible is part of this total, not an extra charge on top of it.
• Premiums, which don't count toward the cap. At the projected $36 average: 12 × $36 = $432.
• Total: about $2,832 for the year, before any Part B or supplemental costs.

Your premium may be higher or lower than the average. Use your plan's real number.

COLA vs. Part B:

• Projected Part B increase: $209.50 − $202.90 = $6.60 a month.
• A 3.6% COLA on a hypothetical $2,000 monthly Social Security benefit: $72 a month.

For most people, the projected Part B increase takes only a small part of the raise. Two caveats. The Part B figure is still a projection. And higher earners pay income-based surcharges (IRMAA) on top of the standard premium, which can change the math a lot.

Your open enrollment checklist

Do these in order. Most of them take only a few minutes.

1. Read your Annual Notice of Change (ANOC). Your plan sends it before open enrollment. It lists what's changing for 2027: premium, deductible, copays, the formulary (the plan's list of covered drugs), and the network. If you can't find yours, call the plan and ask for it.
2. Confirm your plan still exists. If it's being discontinued, the plan should have told you. Skip to the next section.
3. List every prescription. Include the exact drug name, dose, and how often you take it. Approximations give you approximate answers.
4. Run Medicare.gov's Plan Finder. Enter your drugs and your preferred pharmacies. Sort by total estimated annual cost, not by premium. A low-premium plan can cost more over the year.
5. Check the formulary and drug tiers. A drug can stay covered but move to a more expensive tier. Also look for new prior authorization or step therapy rules.
6. Check your doctors and hospitals if you're in or considering Medicare Advantage. Network changes are common. Call the doctor's office directly. Directories aren't always current.
7. Check your pharmacy. Preferred pharmacy status can change from year to year, and so can your price at the counter.
8. Decide before December 7. Write down which plan you chose, when you enrolled, and your confirmation number.

If your plan is leaving your area

Don't panic. If your Medicare Advantage or Part D plan won't be offered in 2027, you generally qualify for a special enrollment period to choose new coverage. Still, picking a plan during the regular window is the cleaner option. It gives you coverage starting January 1 with no gap.

You have two broad options:

• Choose another Medicare Advantage plan that covers your doctors and drugs.
• Return to Original Medicare and add a standalone Part D plan. A Medigap (Medicare Supplement) policy can be added too. Outside certain protected situations, Medigap insurers in many states can ask about your health. Find out what rules apply in your state before you count on getting one.

If you aren't sure which situation you're in, call the plan or a State Health Insurance Assistance Program (SHIP) counselor. SHIP counseling is free and unbiased.

Why this matters beyond one year

Open enrollment is a decision about one year. Health care costs run for the rest of your retirement.

Fidelity's 2025 estimate puts lifetime health care spending at $172,500 for one 65-year-old retiring this year. That covers Medicare premiums, deductibles, and prescriptions, and it doesn't include long-term care. (Source: Fidelity Investments, 2025 Retiree Health Care Cost Estimate, Jul 2025.)

How long you live changes that number. About one in three 65-year-olds may live to 90 or beyond, according to the Social Security Administration's planning guidance. (Source: SSA, Retirement Information for Medicare Beneficiaries, 2026.) A $6.60 monthly increase looks small for one year. Repeated over 25 or 30 years, with the increases compounding, it's a real budget item.

That's why the Monte Climb retirement planning engine adds Medicare premiums and income-based surcharges year by year instead of using one flat guess. It runs your savings through 1,000 simulated futures, which are different possible paths for market returns. Then it reports how often your money lasts to age 95. The answer is a probability, not a promise. And it's planning software, not advice.

Run your own numbers

Pick your 2027 plan with the checklist above. Then see how health care costs fit into the rest of your retirement. Enter your age, savings, and monthly spending in the three-number retirement calculator to get a success rate. Or ask William, our AI planner, whether rising premiums change your answer to "Am I on track?"

Show my answer →

Frequently asked questions

When is Medicare open enrollment for 2027?

The annual open enrollment period for 2027 coverage runs from October 15 to December 7, 2026. Changes take effect January 1, 2027. December 7 is the usual end date, so check it on Medicare.gov and don't wait until the last day.

What happens if I miss the December 7 deadline?

If your current plan is still offered, it generally renews for 2027 with any changes your insurer made. If you're in a Medicare Advantage plan, you can make one change from January 1 to March 31, 2027. Special enrollment periods cover certain events, such as a plan leaving your area.

What is the Part D out-of-pocket cap for 2027?

The cap is officially $2,400 for 2027, up from $2,100. The standard deductible rises to $700 from $615. The deductible counts toward the cap, but your monthly premiums don't.

Has the 2027 Part B premium been announced?

Not as of early November 2026. The 2026 Medicare Trustees Report projects $209.50 a month, up from $202.90, with a deductible of about $292. CMS usually releases the official figures and income-based surcharges in November.

Will the 3.6% Social Security COLA cover the Part B increase?

Based on the projections, the Part B premium would rise about $6.60 a month. A 3.6% raise on a $2,000 monthly benefit is about $72, so for most people the raise more than covers it. Higher earners who pay IRMAA surcharges should check their own numbers once the official figures come out.