Medicare Open Enrollment for 2027: What You Need to Know

A Practical Guide to Upcoming Medicare Changes, Choosing the Right Plan, and Avoiding Costly Mistakes

As Medicare open enrollment begins October 1, 2026 and ends December 7, 2026, understanding your options and the latest changes is more important than ever. Benefits advisor Josh Kinzel from Seniority Benefit Group joins us again to break down the big shifts coming for 2027. We know this will help you decode confusing plan choices, and get some great advice to ensure you get the coverage you need, without the anxiety or unexpected costs.

Medicare Basics: Know Your Options

Before diving into 2027’s updates, let’s revisit the main Medicare choices. Because knowing what each plan covers (and what it doesn’t) is essential. As Josh Kinzel explains, original Medicare includes:

• Part A (hospitalization, no premium for most)
• Part B (outpatient care, with a monthly premium—currently about $202.90, but expect increases)

Together, A and B cover about 80% of your medical bills, but the other 20% is your responsibility—potentially forever, unless you take additional action. This is where supplementary options step in:

• Medigap/Supplement Plans: These cover the 20% gap. You pay an extra premium for predictable costs and nationwide doctor access. You’ll also need a separate Part D drug plan.
• Medicare Advantage (Part C): Advantage plans bundle hospital, outpatient, and often drugs. They work more like employer network plans, usually with lower (sometimes $0) premiums but potentially higher out-of-pocket costs and provider restrictions.

It’s vital to do your homework. Plans can be confusing, and emergencies can lead to unpleasant surprises if you don’t know your coverage (08:10).

2027 Medicare Changes on the Horizon

This coming year brings some significant shifts. Some positive, some concerning. Here are the highlights:

• Rising Rates: Premiums for both basic Medicare and prescription plans are likely increasing (09:55).
• Shrinking Plan Choices: The number of available Part D drug plans is dropping—some counties may only have 10 or fewer options, which can limit your flexibility and coverage.
• Decreased Advantage Plan Coverage: Networks are getting narrower, and some insurers have even removed members (10:21).
• Phasing Out Part D Subsidies: With federal subsidies ending, expect higher premiums or reduced benefits in some drug plans (10:30).

On the upside, drug cost negotiations mean that prices for 19 popular medications (like Eliquis) are coming down. And the annual maximum out-of-pocket for prescriptions is capped at $2,400 in 2027 (12:07). Keep in mind, though, insurance companies may respond to subsidy losses with higher costs or fewer benefits (12:50).

Choosing the Right Plan: It’s Personal

Picking between Medigap and an Advantage plan is not just about numbers. Your health, provider preferences, and risk tolerance all matter. As Josh Kinzel describes, even people in the same family can make different choices and be happy. For example, Josh’s mom prefers the low-cost Advantage plan (even if it’s more work to navigate), while his dad pays more monthly for a Medigap plan just for convenience (21:03).

Key questions to ask yourself:

• Are you comfortable navigating provider networks, or is nationwide access important?
• Can you handle surprise costs, or do you prefer predictable premiums?
• What’s your risk tolerance for denied services or network changes mid-year?

Don’t assume the employer or retiree plan is always best. Sometimes Medicare and supplement options are actually more cost-effective (28:03).

Watch Out for Mistakes and Medicare Scams!

The most common (and costly) errors? Missing enrollment windows, assuming a spouse’s plan works for you, misunderstanding COBRA insurance coverage (it may not protect you from Medicare penalties), or failing to re-evaluate annually (26:06). When in doubt, always speak with an advisor before making changes.

Scams are also rampant, especially around open enrollment. Remember: Medicare never calls you or charges for new cards. If you get unsolicited calls offering “flex cards” or gifts, hang up, and never share your Medicare number (30:19). Verify phone numbers and go directly to trusted sources or your local Area Agency on Aging (33:01).

Ask, Research, and Stay Proactive

Don’t go it alone. As Josh Kinzel reminds us, ask questions, and use local workshops, libraries, or reputable agents as resources (38:25). Your healthcare needs aren’t the same as your neighbor’s or even your spouse’s. Personalized advice is key.

5 Frequently Asked Questions About Medicare Open Enrollment

1. When is Medicare open enrollment for 2027?
   Open enrollment runs from October 15th to December 7th for Medicare plans covering 2027.
2. What are the biggest changes to Medicare Advantage and Part D plans for 2027?
   According to Josh Kinzel, fewer plans will be available, premiums and Part D costs may rise, some extra benefits are being reduced, and more drugs have negotiated prices.
3. How can I avoid Medicare scams during open enrollment?
   Remember, Medicare will not call you unsolicited. Never give out your Medicare number over the phone, verify all sources, and beware of “flex card” offers or calls requesting payment for new cards.
4. Should my spouse and I enroll in the same Medicare plan?
   Not necessarily. Josh Kinzel notes that spouses may have different healthcare needs, risk tolerances, or provider preferences, so evaluate plans individually.
5. Is COBRA considered credible coverage to delay Medicare enrollment?
   No, COBRA is not recognized as credible coverage by Medicare, so relying on COBRA can result in penalties if you delay Medicare enrollment past eligibility.