Medicare Open Enrollment Ends December 7: 5 Steps to Review Your Coverage Before It's Too Late

An older couple reviews Medicare plan paperwork together at their kitchen table in soft morning light.

Medicare coverage that worked well this year may not fit your needs, or your budget, next year. Premiums, prescription coverage, provider networks, and plan benefits can change. Reviewing your options now gives you time to understand those changes and make a confident decision.

The Medicare Open Enrollment period runs October 15 through December 7, 2026. If you want to change your coverage for 2027, your plan must receive your enrollment request by December 7. Changes generally take effect January 1, 2027. The deadline is firm, so it’s worth setting aside time to review your coverage before the window closes.

Here are five practical steps to help you prepare.

1. Mark the Dates and Know Your Enrollment Window

The October 15–December 7 period is Medicare Open Enrollment, also called the Annual Election Period. Depending on your current coverage, you may be able to:

  • Join, drop, or switch a Medicare Advantage plan.
  • Join, drop, or switch Medicare drug coverage (Part D).
  • Switch between Original Medicare and Medicare Advantage.

Not every change applies to every person, so check the options available for your situation. Medicare explains the choices on its Open Enrollment page.

There’s also a separate Medicare Advantage Open Enrollment Period from January 1 through March 31, 2027. It’s only for people who are already enrolled in a Medicare Advantage plan at the start of that period. If you qualify, you can make one change: switch to another Medicare Advantage plan or return to Original Medicare. If you return to Original Medicare, you can also join a separate Part D plan.

That later window is not a substitute for reviewing your options now. Mark December 7 on your calendar and allow time to compare plans before the deadline.

2. Read Your Annual Notice of Change

If you’re enrolled in a Medicare plan, look for your Annual Notice of Change (ANOC). Your plan sends it each fall, usually in September, to explain changes that will take effect in January.

Review it carefully. Check what’s changing in your plan’s costs, coverage, benefits, and other terms. A plan name may stay the same while the details that matter to you change.

If you can’t find the notice, contact your plan and ask for a copy. Medicare also describes what to look for in its guide to the Plan Annual Notice of Change.

An older adult takes time to review important paperwork at home.

3. Compare Costs Against Your Actual Prescriptions

A plan’s monthly premium is only one part of what you may pay. As you compare options, look at the full picture:

  • Monthly premium and annual deductible.
  • Copays or coinsurance for the medications you take.
  • Whether each prescription is covered, and any coverage rules that apply.
  • The cost of your medications at pharmacies you can conveniently use.

Make a current medication list before comparing. Include each drug’s name, dosage, and how often you take it. Then use Medicare’s Plan Compare tool to check plan options and drug costs. Plan details and prices can vary, so review the results for your own prescriptions rather than relying on a general estimate.

For 2027, Medicare says no Part D plan may have a deductible above $700, though some plans may charge less or have no deductible. Your total prescription costs will depend on the plan and medications you choose. You can read more about premiums, deductibles, and drug coverage stages on Medicare’s Part D costs page.

A couple organizes prescription information and plan paperwork at home.

4. Check Your Doctors and Pharmacies

Before choosing a plan, confirm that your doctors and other providers are still included in its network. If you have Medicare Advantage, check the current plan directory and contact your provider’s office if you’re unsure. Network information can change, and a doctor’s office may not have the latest details about every plan.

For prescription coverage, check whether your usual pharmacy is in the plan’s network and whether it is considered a preferred pharmacy. If it isn’t, your costs or convenience may be different. You can also check whether the plan includes other nearby pharmacies that would work for you.

This step is especially important if you and your spouse use different doctors or pharmacies. Make a short list for each person, then verify each one separately. A little checking now can help prevent an unwelcome surprise after your coverage changes.

5. Look Ahead at 2027 Changes

When reviewing next year’s drug coverage, pay attention to Medicare’s updated Part D costs. The annual out-of-pocket cap for covered Part D drugs will be $2,400 in 2027. After eligible out-of-pocket spending reaches that amount, you generally pay nothing for covered Part D drugs for the rest of the calendar year.

One detail that’s easy to miss: the $2,100 cap applies to 2026, not 2027. For plans taking effect in 2027, the published cap is $2,400. The cap applies to covered Part D drugs; it does not mean every medication or every healthcare expense is included. Review the plan’s own coverage information and Medicare’s current Part D cost details to understand how the rules apply to you.

Also look beyond the headline figures. A plan may change its premium, deductible, covered drug list, pharmacy network, or other benefits. Don’t assume a familiar plan will remain the best fit. Compare the 2027 information with your current needs and expected expenses.

Healthcare costs are part of your broader retirement budget. Whether you’re considering retirement income strategies, exploring how to plan for retirement, or doing pre-retirement financial planning, it helps to see healthcare costs alongside other expected expenses. Understanding those costs can also support more informed retirement tax planning. You don’t need to solve everything at once, start by reviewing the coverage you’ll use.

Make Your Review Easier

Set aside a little time to gather your ANOC, medication list, and preferred doctors and pharmacies. Compare the details, write down questions, and contact Medicare or your plan when something isn’t clear. Medicare’s Open Enrollment information and Plan Compare tool are useful places to begin.

If you’d like help understanding how healthcare planning fits into your larger transition to retirement, we’d be pleased to guide you. Retirement Training Centers of America offers a free, no-obligation 1-Day Retirement Workshop in North Olmsted, Ohio, with a healthcare planning module and a collaborative setting where you can learn at your own pace.

There’s no pressure to attend and no prior financial knowledge required. Join us to build a clearer picture of the decisions ahead. Contact us to learn more or call 440-455-1566.

This article is for educational purposes only and is not individualized Medicare, tax, or financial advice. Confirm plan details and enrollment eligibility directly with Medicare and your plan.