Medicare open enrollment ends Dec. 7: 5 changes to check before 2027
Who qualifies, when to sign up, why it matters, and five changes to check for 2027. A guide for you or the parent you help.
Deadline: Medicare open enrollment runs through Dec. 7. Changes take effect Jan. 1, 2027. Even if you are not on Medicare yet, odds are you help a parent who is, and your own turn is closer than you think.
Who qualifies: Most people become eligible at 65. You can qualify earlier if you have received Social Security disability benefits for 24 months, or if you have end-stage kidney disease or ALS.
When to start paying attention: Your Initial Enrollment Period is a seven-month window that opens three months before the month you turn 65 and closes three months after. If you already collect Social Security, you are enrolled in Parts A and B automatically. If not, you must sign up yourself. Put a reminder in your calendar for your 64th birthday so you can learn your options without a deadline breathing down your neck.
The trap to avoid: Miss your window without other qualifying coverage and the Part B late penalty adds 10% to your premium for every full 12 months you could have enrolled but didn’t, usually for as long as you have Part B. The exception: If you or your spouse are still working and covered by that employer’s group health plan, you can generally wait and sign up within eight months after the job or coverage ends, without a penalty. Check with your employer and Social Security before you skip enrollment.
Why it matters: Medicare is the health coverage for almost everyone 65 and older, and gaps are expensive. Employer and marketplace plans generally end or change at 65, and going without coverage at an age when hospital stays and prescriptions climb can drain savings fast. Women, who on average live longer than men, will rely on Medicare for more years.
Now, five changes for 2027:
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Drug costs are going up. The annual cap on out-of-pocket Part D drug costs rises to $2,400 from $2,100, and the standard deductible climbs to $700 from $615. A temporary federal subsidy that helped hold down Part D premiums is ending.
Put a reminder in your calendar for your 64th birthday.
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Some popular drugs get cheaper. Medicare-negotiated prices take effect for 15 drugs, including Ozempic, Wegovy and Rybelsus, as well as Trelegy Ellipta and the breast cancer drug Ibrance.
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Your plan may be leaving. Some Medicare Advantage plans are pulling out of certain areas or trimming extras such as dental coverage. Read your Annual Notice of Change letter, not just the premium.
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Social Security is rising. The cost-of-living adjustment for 2027 is 3.6%, which can help offset higher premiums.
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Speak up about your care. A Gallup-Pivotal survey this year found 34% of U.S. women said a health care provider minimized or dismissed their symptoms in the past five years. If your doctors are not in a new plan’s network, that is a reason to switch, or to stay.
Your checklist: List every prescription and dose. Enter them in the Medicare Plan Finder at medicare.gov to compare total yearly cost, not just premiums. Confirm your doctors and pharmacy are in network. Free, unbiased help is available from your State Health Insurance Assistance Program, or SHIP. Veterans: VA health care does not replace Medicare Part B for care outside the VA, so talk with a benefits counselor before you decide to skip it.
