Medicare Annual Enrollment Period (AEP) 2027: Everything You Need to Know
What Is the Medicare Annual Enrollment Period?
Every year from October 15 through December 7, Medicare beneficiaries get a chance to review and change their coverage. This window is called the Annual Enrollment Period (AEP), and it’s the most important date on every Medicare enrollee’s calendar.
Changes made during AEP take effect January 1 of the following year.
What's New for 2027
For 2027 coverage, AEP runs October 15 – December 7, 2026, and changes take effect January 1, 2027. Here are the 2027 numbers CMS has already confirmed:
| 2027 Medicare change | 2027 | 2026 |
|---|---|---|
| Part D out-of-pocket cap on covered drugs | $2,400 | $2,100 |
| Part D deductible (most a plan can charge) | Up to $700 | Up to $615 |
| Medicare Advantage in-network out-of-pocket limit (highest allowed) | $9,850 | $9,250 |
| Covered insulin | $35 per month supply | $35 |
| Part B premium / deductible | Not yet announced | $202.90 / $283 |
Sources: CMS CY 2027 Rate Announcement and CY 2027 MOOP limits; CMS “2026 Medicare Costs.” CMS usually announces Part B amounts in the fall; we’ll update this page when it does.
- 💊 Negotiated prices for 15 more drugs start January 1, 2027, including Ozempic, Wegovy, Rybelsus, Trelegy Ellipta, and Xtandi
- 📉 Plan line-ups changed: some Medicare Advantage plans and carriers left certain counties for 2027. If your plan is ending, you’ll get a non-renewal letter, so watch your mail
- 📋 Standalone Part D premiums: a temporary federal program that held down standalone Part D premiums (the Part D Premium Stabilization Demonstration) ends after 2026, so check your plan’s 2027 premium in your Annual Notice of Change
What Can You Change During AEP?
During the Annual Enrollment Period, you can make any of the following changes:
- ✅ Switch from Original Medicare to a Medicare Advantage plan
- ✅ Switch from Medicare Advantage back to Original Medicare
- ✅ Change from one Medicare Advantage plan to another MA plan
- ✅ Join a Medicare Part D prescription drug plan
- ✅ Switch from one Part D plan to another Part D plan
- ✅ Drop your Part D coverage entirely (not usually recommended)
Why You Should Review Your Plan Every Year
Even if you’re happy with your current plan, you should review it every year. Here’s why:
- 💊 Formularies change — your medication might cost more (or not be covered) next year
- 🏥 Provider networks shift — your doctor might leave the network
- 💰 Premiums and copays change — plan costs are updated annually
- ⭐ New plans become available — better options may exist in your area
- 📋 Your health needs evolve — what worked last year might not fit now
5 Common AEP Mistakes to Avoid
AEP vs. OEP: What's the Difference?
Medicare has two enrollment periods at the start of each year that are often confused:
The OEP (January 1 – March 31) is a safety net for people who enrolled in a Medicare Advantage plan during AEP and want to make one more change. It’s not a full redo — it’s more limited.
How Senior Benefits Hub Helps During AEP
Reviewing your Medicare plan doesn’t have to be stressful. Here’s how we make AEP simple:
- Free Plan Review — We compare your current plan against the plans we offer in your ZIP code
- Medication Analysis — We check your exact prescriptions against each plan’s formulary
- Doctor Verification — We confirm your providers are in-network before you switch
- Cost Comparison — We estimate your total annual cost, not just premiums
- Enrollment Assistance — We handle the paperwork and confirm everything is set
And it’s 100% free — we’re paid by the insurance carriers, never by you.
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