Medicare Annual Enrollment Period Is Here: 6 Things to Check Before You Make a Decision
Medicare’s Annual Enrollment Period (AEP) runs from October 15 through December 7. If you have a Medicare Advantage plan or a standalone Medicare Part D prescription drug plan, this is your opportunity to review your coverage and consider changes for 2027.
Before you make a decision, here are six important things worth checking:
1. Your Annual Notice of Change (ANOC)
If you’re enrolled in a Medicare Advantage or Part D prescription drug plan, your insurance company should have sent you an Annual Notice of Change (ANOC) by September 30.
This document outlines important changes to your coverage and costs for 2027. It’s a good starting point for reviewing your current plan before comparing other options. If you haven’t received yours, contact your insurance company.
2. Your doctors and hospitals
If you have a Medicare Advantage plan, confirm that the doctors, specialists, and hospitals you prefer are still in the plan’s network. Networks can change, and using an out-of-network provider may cost more or may not be covered, depending on the plan.
3. Your prescription medications
Review whether your medications are covered for 2027, which pharmacies are preferred, and whether copays, drug tiers, or coverage requirements have changed. This is important whether your drug coverage comes through a standalone Part D plan or a Medicare Advantage plan that includes prescription coverage.
4. Your total healthcare costs
A monthly premium tells only part of the story. Look at deductibles, copays, coinsurance, and other potential out-of-pocket expenses. Medicare Advantage plans have annual out-of-pocket limits for covered Part A and Part B services; Part D coverage has separate prescription drug cost rules.
5. Your healthcare needs
Think about any changes in your health, prescriptions, providers, or anticipated care. A plan that worked well last year may still be a good fit—or your needs may have changed.
6. Whether changing plans actually makes sense
Compare your current coverage with available alternatives, including benefits, costs, and restrictions. You do not have to change plans just because AEP has arrived. Sometimes keeping the coverage you already have is the right decision.
A quick word about Medicare Supplement plans
Medicare Supplement (Medigap) policies work differently. The October 15–December 7 AEP is not a special annual enrollment period for switching Medigap policies, and it does not generally give you a guaranteed right to purchase one without medical underwriting.
If you have Original Medicare with a Medigap policy and a standalone Part D plan, AEP is still an important time to review your Part D coverage. Rules for changing Medigap coverage are separate and depend on your circumstances and applicable protections.
Take time to review—without feeling pressured
Changes made during AEP generally take effect January 1, 2027. Reviewing your options now can help you decide with greater confidence, whether that means making a change or staying with your current coverage.
Have questions about your Medicare coverage? BeneCentric helps Michigan residents understand their options and make informed decisions, without pressure and at no cost for our assistance.
Visit BeneCentric.com to learn more about us or get in touch.
Helping You Navigate Medicare with Confidence
