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If you’ve been happy with your Medicare coverage this year, keeping the same plan for 2027 might seem like the easiest decision. After all, why change something that appears to be working? Unfortunately, Medicare plans can change their premiums, prescription drug coverage, provider networks, and out-of-pocket costs from one year to the next, even when you don’t make any changes yourself.
Medicare Open Enrollment begins October 15, 2026, and runs through December 7, giving beneficiaries an opportunity to compare coverage options for 2027. According to the Centers for Medicare & Medicaid Services (CMS), average Medicare Advantage premiums are projected to decrease 16.5% next year, but that doesn’t mean every plan will become less expensive. Before allowing your current coverage to renew automatically, here are seven important details worth reviewing.
1. Check Whether Your Monthly Premium Is Changing
Your monthly premium is probably one of the first numbers you look at when comparing Medicare plans, but it shouldn’t be the only one. CMS projects that the average Medicare Advantage premium will decrease from $14.37 in 2026 to $12 in 2027, although individual plans may have different changes.
According to the agency’s September 2026 announcement, average standalone Part D premiums are expected to rise slightly, from $35.09 to approximately $36 per month. For example, a $10 monthly premium increase would add $120 to your annual healthcare expenses before accounting for deductibles or copayments. Remember that most Medicare Advantage beneficiaries must continue paying their Medicare Part B premium, even if their Advantage plan advertises a $0 monthly premium.
2. Review Your Prescription Drug Coverage Carefully
Prescription drug coverage can be one of the biggest reasons to reconsider a Medicare plan during Medicare Open Enrollment. A medication covered affordably in 2026 might move to a different formulary tier, face new restrictions, or disappear from a particular plan’s covered drug list in 2027.
The Medicare Plan Finder allows beneficiaries to enter their medications and compare estimated annual drug costs across available plans. For instance, someone taking three maintenance prescriptions and one expensive specialty medication could discover substantial differences between plans with similar monthly premiums. Check your exact medication names, dosages, quantities, preferred pharmacies, and any prior authorization or step therapy requirements before deciding to stay.
3. Make Sure Your Doctors and Hospitals Are Still Covered
Keeping the same insurance card doesn’t necessarily mean you’ll have access to the same healthcare providers next year. Medicare Advantage plans can update their provider networks, potentially affecting relationships with primary care physicians, specialists, and hospitals. The Medicare Open Enrollment guidance encourages beneficiaries to compare coverage options rather than assuming their existing arrangements will remain unchanged.
If you regularly see a cardiologist, oncologist, or other specialist, confirm directly with both the provider and the insurance plan that the specific physician and facility will participate in 2027. Losing access to an established provider could mean changing doctors, obtaining new referrals, or facing additional out-of-network expenses depending on your plan.
4. Look Beyond Premiums at Your Total Out-of-Pocket Costs
A plan with a lower monthly premium can still cost more overall if its deductibles, copayments, or coinsurance increase. For 2027, the maximum permitted Part D deductible is $700, while the annual out-of-pocket cap for covered Part D prescription drugs increases to $2,400. These figures don’t mean every plan will charge the maximum deductible or that every beneficiary will spend $2,400 on medications. When reviewing plans, compare expected annual premiums, medical deductibles, specialist copays, hospital expenses, and prescription costs rather than focusing on one attractive number.
The Medicare Plan Finder can help estimate drug spending, while your plan’s Evidence of Coverage explains medical cost-sharing and other financial responsibilities. Another helpful resource is Chapter. It allows you to compare plans from every single Medicare insurance carrier across all plan types. You can get started here.
5. Review Dental, Vision, Hearing, and Other Extra Benefits
Extra benefits can make Medicare Advantage plans appealing, especially for retirees managing expenses on a fixed income. However, dental allowances, vision coverage, hearing aid benefits, transportation services, and over-the-counter allowances can change between coverage years. The CMS Medicare Open Enrollment resources emphasize reviewing the Annual Notice of Change and Evidence of Coverage to understand what will be different next year.
For example, a plan that previously offered a generous dental allowance might reduce that benefit or change which services and providers qualify. Before choosing a plan because of advertised extras, determine whether you’ll actually use those benefits and whether restrictions could limit their value.
Need some additional help pinpointing which plan is best for you? Let Chapter help. One beneficiary from Texas wrote, “I contacted Chapter. They were great. I did not have to change anything, but they took the worry out. Great customer support.”
6. Check Your Plan’s Updated Medicare Star Rating
Medicare recently released its updated quality ratings for 2027, giving beneficiaries another tool for comparing available plans. According to the CMS October 2026 Star Ratings announcement, approximately 37% of Medicare Advantage plans with prescription drug coverage earned an overall rating of four stars or higher. These ratings consider measures involving healthcare quality, customer service, medication management, and beneficiary experiences.
A plan’s rating can improve or decline over time, making it worth checking even if you’ve been enrolled with the same insurer for several years. Although star ratings shouldn’t replace comparisons of doctors, medications, and costs, they can provide useful context when two plans otherwise appear similar.
7. Read Your Annual Notice of Change Before December 7
One of the most important documents to review during Medicare Open Enrollment may already be sitting in your mailbox. Medicare Advantage and Part D plans send an Annual Notice of Change, commonly called an ANOC, explaining important changes scheduled for the following year.
According to Medicare.gov, beneficiaries should receive this notice in September and contact their plan if it hasn’t arrived. Place your notice beside your medication list, healthcare provider information, and current medical expenses so you can compare your existing coverage with available alternatives. If you decide to make a change, your enrollment request generally must be received by December 7, with new coverage taking effect January 1, 2027.
Keeping Your Plan Could Be the Right Choice
Medicare Open Enrollment doesn’t mean everyone needs to switch plans, and staying with familiar coverage may be the best decision for some beneficiaries. The important thing is making that choice after reviewing what your existing plan will actually cover and cost in 2027. Beneficiaries satisfied with a continuing plan generally don’t need to take action, but they should still review annual changes. Anyone needing assistance can compare plans through Medicare.gov, call 1-800-MEDICARE, or seek free, unbiased counseling through their State Health Insurance Assistance Program at SHIPHelp.org.
Chapter can also help you pinpoint which plan might be the best for you. Join more than 250,000 beneficiaries in allowing Chapter to help you find the best Medicare coverage by calling (864) 668-3280 or visiting their website.
Do you review your Medicare coverage every year, or do you usually keep the same plan unless something goes wrong? Share your experience in the comments.
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