Medicare Annual Enrollment Period 2027 — Everything You Need to Know

The Medicare Annual Enrollment Period — also known as AEP or Medicare Open Enrollment — is the most important time of year for Medicare beneficiaries. Running from October 15 through December 7 every year, AEP is your opportunity to review your current Medicare coverage and make changes that take effect January 1, 2027. If you are on Medicare or will be turning 65 soon, understanding the Annual Enrollment Period could save you significant money and ensure you have the right coverage for the year ahead.

What Is the Medicare Annual Enrollment Period?

The Medicare Annual Enrollment Period is a 54-day window each fall during which Medicare beneficiaries can make changes to their Medicare coverage. It runs from October 15 to December 7 every year, and any changes made during this period take effect on January 1 of the following year.

AEP applies to both Medicare Advantage plans and Medicare Part D prescription drug plans. It does not apply to Medicare Supplement (Medigap) plans — those have their own enrollment rules.

What Changes Can You Make During AEP?

During the Annual Enrollment Period, you can make any of the following changes:

• ✅ Switch from Original Medicare to Medicare Advantage
• ✅ Switch from Medicare Advantage back to Original Medicare
• ✅ Switch from one Medicare Advantage plan to another
• ✅ Switch from one Part D drug plan to another
• ✅ Add a Part D drug plan if you don’t currently have one
• ✅ Drop a Part D drug plan and return to Original Medicare only
• ✅ Switch from an HMO to a PPO or vice versa

Why You Should Review Your Coverage Every Year

Many Medicare beneficiaries make the mistake of staying on the same plan year after year without reviewing whether it still meets their needs. This can be a costly mistake because Medicare plans change every year — and so do your healthcare needs. Here’s what can change between plan years:

• Plan premiums — your monthly premium may increase
• Drug formularies — your medications may move to a higher tier or be dropped
• Provider networks — your doctors may leave the plan’s network
• Extra benefits — dental, vision, and hearing allowances may change
• Copays and coinsurance — your cost-sharing may increase
• Out-of-pocket maximum — your maximum exposure may change

Every fall, Medicare plans are required to send you an Annual Notice of Change (ANOC) letter explaining what is changing in your plan for the upcoming year. Read this letter carefully; it may contain important changes that affect your coverage and costs.

2027 AEP Key Dates

Medicare Advantage Open Enrollment Period — January 1 to March 31

If you miss the Annual Enrollment Period or want to make a change after January 1, there is a second opportunity called the Medicare Advantage Open Enrollment Period (OEP), which runs from January 1 to March 31 each year. During OEP, you can:

• Switch from one Medicare Advantage plan to another
• Switch from Medicare Advantage back to Original Medicare and join a Part D plan

You cannot use OEP to switch from Original Medicare to Medicare Advantage — that can only be done during AEP.

What About Medicare Supplement Plans During AEP?

The Annual Enrollment Period does not apply to Medicare Supplement (Medigap) plans. You can apply for a Medigap plan at any time during the year; however, outside of your initial enrollment period, you may be subject to medical underwriting in most states.

New York is one of the few states with guaranteed issue protections year-round — meaning you can switch Medigap plans at any time without being denied based on health history. This is a significant advantage for New York Medicare beneficiaries.

How to Prepare for AEP 2026

Don’t wait until October 15 to start preparing. Here’s what you should do now:

• Review your current plan — are you happy with your coverage and costs?
• Make a list of your medications — check if they are still covered on your plan’s formulary
• Confirm your doctors are still in network — provider networks change every year
• Read your Annual Notice of Change letter — arrives in late September
• Schedule a Medicare review — work with an independent broker to compare all available plans

Common AEP Mistakes to Avoid

• ❌ Staying on autopilot — assuming your plan is still the best option without reviewing
• ❌ Missing the December 7 deadline — changes cannot be made after this date
• ❌ Choosing based on premium alone — the lowest premium plan is not always the lowest total cost
• ❌ Not checking your drug formulary — your medications may cost more on your current plan
• ❌ Working with a captive agent — they can only show you one carrier’s plans

Frequently Asked Questions About Medicare AEP

Do I have to make changes during AEP?

No — if you are happy with your current coverage, you don’t need to do anything. Your plan will automatically renew for the following year. However, we strongly recommend reviewing your plan every year, even if you plan to stay.

When does my new coverage start if I make a change during AEP?

Any changes made during AEP take effect on January 1 of the following year — regardless of when during AEP you make the change.

Can I switch from Medicare Advantage to a Medigap plan during AEP?

You can switch from Medicare Advantage back to Original Medicare during AEP — but enrolling in a Medigap plan may require medical underwriting outside of your initial enrollment period in most states. New York residents have guaranteed issue protections year-round, making this transition easier.

What is the difference between AEP and the Initial Enrollment Period?

The Initial Enrollment Period (IEP) is a one-time 7-month window when you first become eligible for Medicare at age 65. AEP is an annual window available to all Medicare beneficiaries to review and change their existing coverage.

How do I compare Medicare plans during AEP?

The best way is to work with an independent Medicare broker who can compare all available plans in your area — not just one carrier’s options. As an independent broker, I compare every plan available in your zip code to find the best fit for your doctors, medications, and budget — completely free of charge.

Get a Free Medicare Review Before AEP 2026

Don’t wait until October 15 to start thinking about your Medicare coverage. The best time to review your options is now — before the AEP rush begins. As an independent Medicare broker, I help seniors across New York, New Jersey, and nationwide compare all available Medicare plans and make confident enrollment decisions.

📞 Call (917) 740-1895 or schedule a free Medicare review today.

We are not connected with or endorsed by the United States Government or the federal Medicare program. For official Medicare information, visit Medicare.gov or call 1-800-MEDICARE.

Craig Smith

Independent Medicare Insurance Broker | AHIP Certified

Craig Smith is the founder of Craig Smith Insurance Group, an independent Medicare brokerage serving seniors across New York, New Jersey, and nationwide since 2013. With over 25 years of financial services experience and 317+ five-star Google reviews, Craig helps clients compare Medicare Advantage, Medicare Supplement, and Part D plans — always free of charge.

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