Medicare Open Enrollment for 2027: What's Changing
Medicare open enrollment runs through December 7, 2026. For 2027 the Part D out-of-pocket cap rises to $2,400 and the highest deductible to $700, while CMS projects lower average Medicare Advantage premiums. Here's what changes and what to check before you pick a plan.
Medicare open enrollment runs through December 7, 2026, and the plan you pick takes effect January 1, 2027. For 2027 the most a Part D plan can make you pay out of pocket for covered drugs rises to $2,400, from $2,100, and the highest allowed deductible rises to $700, from $615. Average premiums are mixed. CMS projects Medicare Advantage premiums will fall, while stand-alone drug plans tick up slightly on average and lose a subsidy program that held their prices down.
What you can change before December 7
During open enrollment (October 15 through December 7), you can:
- join, drop or switch a Medicare Advantage plan, with or without drug coverage
- move between Original Medicare and Medicare Advantage
- switch stand-alone Part D drug plans if you have Original Medicare
The plan has to receive your request by December 7 for coverage to start January 1. If you do nothing, you generally stay in your current plan, with whatever premiums, drug lists and networks it has for 2027. Plans send an Annual Notice of Change each fall, and that letter is the quickest way to see what moved.
The 2027 numbers
| 2026 | 2027 | |
|---|---|---|
| Part D out-of-pocket cap | $2,100 | $2,400 |
| Highest standard Part D deductible | $615 | $700 |
| Average Medicare Advantage premium | $14.37 | $12.00 |
| Average stand-alone drug plan premium | $35.09 | $36 |
| Medicare Advantage plans offered nationally | 5,553 | about 5,532 |
Sources: CMS's 2027 rate announcement (April 6, 2026) for the drug-benefit limits, and CMS's September 28, 2026 release for premiums and plan counts.
Averages hide a lot. CMS is ending, after 2026, a temporary demonstration meant to keep stand-alone Part D premiums stable, so an individual plan's premium can move much more than the $1 average. CMS says 97% of people with Medicare can choose from 10 or more Medicare Advantage plans, and it projects 34 million people, about 47% of everyone on Medicare, will be in one in 2027.
How this ties to your Social Security check
Most people have their Part B premium taken straight out of their Social Security payment, so a higher premium shrinks the 3.6% raise that starts in January. The official 2027 Part B premium usually comes out in mid-November. We break down the projection in will your 2027 COLA cover the Medicare hike.
If you're on SSDI, Medicare starts after 24 months of disability benefits, and the same open-enrollment rules apply once you have it. See how the 24-month wait works.
A second chance in January
If you're in a Medicare Advantage plan on January 1, you get another window from January 1 through March 31. You can switch to a different Advantage plan, or drop it for Original Medicare and add a separate drug plan. Changes take effect the first of the month after the plan gets your request. People with Original Medicare don't get this second window.
What to do
- Read your Annual Notice of Change and check that your drugs, doctors and pharmacies are still covered.
- Compare plans in Medicare Plan Finder at Medicare.gov, entering your actual prescriptions so the out-of-pocket estimates are real.
- Get free help from your State Health Insurance Assistance Program (SHIP) if the choices are confusing.
- Budget for January. See this year's figures on our cheat sheet, and read how Social Security and Medicare work together.
This article is general educational information, not insurance advice. Figures are from CMS (CY 2027 Rate Announcement, April 6, 2026; Part D bid information, July 28, 2026; Medicare Advantage and Part D release, September 28, 2026) and Medicare.gov. Plan premiums and coverage vary by plan and location. SocialSecurityNews.com is not affiliated with or endorsed by CMS, Medicare or the Social Security Administration.
Frequently asked questions
- When is Medicare open enrollment for 2027 coverage?
- October 15 through December 7, 2026. The plan must receive your request by December 7, and the new coverage starts January 1, 2027.
- What is the Part D out-of-pocket cap for 2027?
- $2,400, up from $2,100 in 2026, according to CMS's 2027 rate announcement. Once your out-of-pocket spending on covered drugs reaches the cap, you pay nothing more for covered drugs that year. The highest standard deductible rises to $700 from $615.
- Are Medicare Advantage premiums going up in 2027?
- On average, no. CMS projects the average Medicare Advantage premium will fall from $14.37 to $12.00 a month. Stand-alone drug plan premiums average $36, up from $35.09, but individual plans can change much more than the average.
- What happens if I don't do anything during open enrollment?
- You generally stay in your current plan with its 2027 premiums, drug list and network. Check your plan's Annual Notice of Change to see what's different.
- Can I change plans after December 7?
- If you're in a Medicare Advantage plan, you can switch Advantage plans or move to Original Medicare from January 1 through March 31. People with Original Medicare don't get that second window.
Reference: SocialSecurityNews