If you have Medicare—or help care for someone who does—an important time of year is approaching.

The Medicare Annual Enrollment Period, commonly called AEP, takes place every year from October 15 through December 7. During this period, eligible Medicare beneficiaries can review their current coverage and decide whether it continues to meet their healthcare and prescription needs for the upcoming year.

Changes selected during AEP generally take effect on January 1, 2027.
 

Why is an annual Medicare review important?

Medicare Advantage and Medicare prescription drug plans can change from year to year. Even if you are satisfied with your current coverage, it is important to understand what may be different in 2027.

Possible changes may include:

• Monthly plan premiums
• Medical copayments and other out-of-pocket costs
• Prescription drug formularies and costs
• Pharmacy networks
• Doctor and hospital networks
• Referral or prior-authorization requirements
• Additional plan benefits
• Maximum out-of-pocket limits

Reviewing these details does not mean you must change plans. It simply helps you make an informed decision about whether to keep your current coverage or consider other available options.
 

Start with your Annual Notice of Change

If you are enrolled in a Medicare Advantage or Medicare prescription drug plan, your plan will send you an Annual Notice of Change, often called an ANOC.

This document explains important changes to your coverage for the upcoming year. When reviewing your ANOC, pay particular attention to:

• Premium and copayment changes
• Prescription drug coverage
• Changes to the plan’s provider network
• Changes to pharmacies or pharmacy pricing
• Benefits that may be added, reduced or removed
• Prior-authorization requirements

Keep the document in a safe place and bring it with you if you request help reviewing your Medicare coverage.

What can you do during AEP?

Depending on your eligibility and current coverage, you may be able to:

• Change from one Medicare Advantage plan to another
• Change from Original Medicare to a Medicare Advantage plan
• Leave a Medicare Advantage plan and return to Original Medicare
• Join, change or drop a Medicare prescription drug plan

Before making a change, consider more than just the monthly premium. A plan should be evaluated based on your individual healthcare needs, medications, preferred doctors, pharmacies and expected out-of-pocket costs.

Questions to ask during your Medicare review

Before comparing coverage, prepare the following information:

1. Are your doctors and preferred hospitals included in the plan’s network?
2. Are your prescription medications covered?
3. What are the expected copayments and other costs?
4. Is your preferred pharmacy included in the plan’s network?
5. Are referrals or prior authorizations required?
6. Will any benefits you currently use change next year?
7. Are you comfortable with the plan’s service area and network rules?

Having an updated list of your doctors, prescriptions and preferred pharmacies can make the review more accurate and productive.

Turning 65 or new to Medicare?

AEP is primarily for people who already have Medicare and want to review or change their coverage for the upcoming year.

If you are turning 65, retiring, losing employer coverage, moving or experiencing another qualifying event, you may have a different Medicare enrollment period. You do not necessarily need to wait until October 15 to learn about your options or take action.

Medicare enrollment periods depend on your individual circumstances, so it is important to understand the dates that apply specifically to you.

Get help understanding your Medicare options

Medicare coverage can feel complicated, but you do not have to review it alone.

I’m Yadira Son, a Licensed Health Insurance Broker with SolCare Health, LLC. I help Medicare beneficiaries understand their current coverage and review Medicare plan options available from multiple insurance companies.

My goal is to provide clear, personalized information so you can make an informed decision about your healthcare coverage.

Medicare Annual Enrollment Period:
October 15–December 7