What you need to know about Medicare this year

Medicare annual enrollment has begun. Between now and December 7, you can make changes to your coverage for 2027, and those changes take effect January 1.¹

If your first thought is “Wait, is it that time again?”, you’re not alone. Most people don’t think about their Medicare coverage once they’ve signed up. But plans change every year, whether you hear about it or not, and annual enrollment is the time when you can do something about it. A few minutes now can save you a surprise in January. Here’s what you need to know this year.

Did your plan change?

Medicare Advantage and Part D plans can change their costs, benefits, drug lists and provider networks every year. Your plan has to tell you, so look for your Annual Notice of Change, which should have arrived by September 30.² If it’s sitting in a pile of mail, now’s the time to open it.

When you read it, look for the things that touch your wallet and your routine: what you’ll pay each month, what your doctors and pharmacy will cost, whether your medications are still on the plan’s drug list, and whether extras like dental, vision and hearing coverage are changing.

It’s also worth checking your plan’s star rating. Medicare released the updated 2027 ratings in October, and they’re on Medicare Plan Finder for annual enrollment.³ A star rating won’t tell you everything, but it’s a useful place to start when you’re comparing plans.

Are your prescriptions still covered?

Part D has new limits for 2027. The most any drug plan can charge for a yearly deductible goes from $615 to $700. And once your out-of-pocket spending on covered drugs reaches $2,400 (up from $2,100), catastrophic coverage kicks in.⁴ Your plan’s drug list can change too, so check that your medications are still covered and what they’ll cost, even if you’ve been happy with the plan.

There’s also a temporary program for some people. The Medicare GLP-1 Bridge, which began July 1, runs through December 31, 2027. Eligibility rules apply, so talk with your prescriber and pharmacist and check Medicare.gov/glp1bridge to see how it works with your coverage.⁵

Thinking about a Medicare Supplement?

Medicare Supplement (Medigap) premiums can change from year to year, and policyholders don’t get an Annual Notice of Change, so your renewal notice is where to look.2 Medigap also works differently from annual enrollment. Outside your first six-month window, you generally don’t have a federal right to switch policies, but your situation may vary depending on your state.6 That’s worth talking through with an agent if you have questions.

What annual enrollment means

From October 15 to December 7, you can:

• Switch from Original Medicare to a Medicare Advantage plan, or from Medicare Advantage back to Original Medicare
• Join, drop or switch Medicare Advantage plans, with or without drug coverage
• Join, drop or switch a Part D drug plan if you have Original Medicare

Your request has to reach the plan by December 7.¹ You can also choose not to change anything. If your plan still works for you, staying put can be a fine choice, as long as you’ve checked the details. (If you’re turning 65, annual enrollment isn’t your enrollment window. Generally, your Medicare coverage starts the first day of the month before you turn 65, and your initial sign-up period runs a few months before to a few months after that birthday.⁷ )

A quick checklist before December 7

• Read your Annual Notice of Change
• Check your medications and what they’ll cost
• Make sure your doctors and pharmacy are still in your plan
• Look at the extras your plan includes
• Decide whether to stay, switch or ask for help

You don’t have to sort this out alone

That’s a lot to compare, and it’s exactly what we’re here for. A local Highstreet agent can go through your Annual Notice of Change with you, check your medications and doctors, and compare your options, with nationwide resources behind them. You’ll get a straight answer from someone who listens first.

December 7 comes quickly. Talk to a local Highstreet agent before it’s here.

Highstreet is licensed to sell Medicare Advantage, Medicare Supplement and Part D plans but does not offer every plan available in your area. Highstreet is not affiliated with or endorsed by the federal Medicare program. For plan information, call 1-800-MEDICARE or visit Medicare.gov.

1. Medicare.gov (n.d.). Open enrollment. https://www.medicare.gov/healthdrug-plans/open-enrollment
2. National Council on Aging (n.d.). What is a Medicare Annual Notice of Change (ANOC)? https://www.ncoa.org/article/what-is-a-medicare-annualnotice-of-change-anoc/
3. Centers for Medicare & Medicaid Services (2026). 2027 Medicare Advantage and Part D Star Ratings. https://www.cms.gov/newsroom/factsheets/2027-medicare-advantage-part-d-star-ratings
4. Medicare.gov (n.d.). Part D costs. https://www.medicare.gov/health-drugplans/part-d/basics/costs
5. Centers for Medicare & Medicaid Services (2026). Medicare GLP-1 Bridge. https://www.cms.gov/medicare/coverage/prescription-drug-coverage/medi care-glp-1-bridge.html
6. Medicare.gov (n.d.). Switching Medigap policies. https://www.medicare.gov/supplements-other-insurance/when-can-i-buymedigap/switching-medigap-policies
7. Medicare.gov (n.d.). When does Medicare coverage start? https://www.medicare.gov/basics/get-started-with-medicare/sign-up/whendoes-medicare-coverage-start