While you’re currently using your 2026 benefits, it’s already time to look ahead. The next Fall Open Enrollment—also known as the Annual Enrollment Period (AEP)—runs from October 15 to December 7, 2026. This is the window where you’ll choose your 2027 coverage. Here’s what you need to know to stay ahead and ensure your healthcare stays on track.
1. The 2027 Sign-Up Dates: Oct 15-Dec 7, 2026
This fall is your chance to change your Medicare plan for next year. Whether you want to switch from Original Medicare to Medicare Advantage, or swap one prescription drug plan for another, this is the time. Any choice you make during this window starts on January 1, 2027.
2. The $2,100 Drug Cap Continues
The $2,100 limit on out-of-pocket drug costs remains a vital part of your 2027 planning. Once you hit this limit on covered drugs, you won’t pay another penny for your prescriptions for the rest of the year. This cap provides peace of mind and protection for your retirement savings.
3. Current Part B Fee: $202.90
Right now, the standard monthly cost for is $202.90. While 2027 rates are officially set by CMS later this year, using this $202.90 benchmark helps you and your family plan your 2027 budget today.
4. The Doctor Deductible Baseline: $283
This is the "first dollar" amount you pay for doctor visits before your coverage kicks in. The current $283 deductible is the starting point for 2027 planning. When you review plans with a SelectQuote agent, we'll look at how different Medicare Supplement or Medicare Advantage options handle this cost.
5. Maximum Drug Deductible: $615
Some drug plans have a "starting cost" you must pay before the plan begins to cover your medicine. The current maximum a plan can charge for this deductible is $615. We can help you check if your specific medications are subject to this deductible on various 2027 plans.
6. The "Gap" (Donut Hole) Stays Closed
You no longer have to worry about the "donut hole" where drug prices suddenly spike. In 2027, you’ll continue to move directly toward the $2,100 safety net. This makes your monthly expenses much more predictable than in years past.
7. Monthly Payment Option
The Medicare Prescription Payment plan allows you to pay your out-of-pocket drug costs in capped monthly installments. This is a great tool for managing the $2,100 cap over all 12 months of 2027, rather than facing a large bill at the pharmacy counter all at once.
8. Review Your Doctor List for 2027
Provider networks can change, and doctors may leave a plan at the end of the year. During the Fall 2026 window, it’s essential to verify that your preferred doctors, specialists, and hospitals are still participating in your chosen plan for 2027.
9. Avoid Late Fees for 2027
If you’re new to Medicare and don’t pick a Part D prescription drug plan, you could face a permanent late enrollment penalty. Signing up during the Fall 2026 window protects you from these extra costs and ensures you have the coverage you need.
10. Get Your 2027 Plan Review Early
With recent changes to Medicare rules, a professional check-up is more important than ever. Our licensed insurance agents at SelectQuote are seasoned in navigating these shifts. We use proprietary technology to quickly compare your options—helping you find the right fit for your health and budget.
SelectQuote Can Help You Find the Right Medicare Advantage Coverage
The Medicare Annual Enrollment Period is one of the best times to review your Medicare Advantage coverage and see what plans are available to you. At SelectQuote, we can compare Medicare Advantage plans from some of the most trusted insurance companies in the nation in just minutes to help you find the right coverage with the right carrier at the right price. There’s no obligation to enroll.
