Frequently Asked Questions
What changes in Medicare every year?
Every January 1, Medicare plans can change: monthly premiums, drug formularies (which drugs are covered and at what tier), provider and pharmacy networks, prior authorization requirements, cost-sharing amounts (copays and coinsurance), and extra benefits like dental, vision, and fitness. Even if you like your current plan, reviewing these changes annually during AEP (October 15–December 7) protects you from January surprises.
How do I find out what my Medicare plan is changing?
Your plan mails an Annual Notice of Change (ANOC) every September — before AEP opens. The ANOC details every change your plan is making for the upcoming year: premium changes, formulary changes, network changes, and benefit changes. Review it carefully. If your plan is making changes that affect your care or costs, AEP is your window to switch.
What is the Medicare Part B premium for 2027?
The 2027 Medicare Part B premium has not yet been officially announced as of this writing — CMS typically announces it in October or November. The 2026 standard Part B premium is $174.70/month. Watch cms.gov or Medicare.gov for the official 2027 announcement before AEP closes December 7.
Do I have to do anything during AEP if I'm happy with my plan?
If you reviewed your ANOC and your plan's changes are acceptable — premiums unchanged, your drugs still covered at the same tier, your doctors still in-network — you can keep your current plan without taking any action. Your plan automatically continues January 1. Action is only required if you want to make a change.
What happens if I miss the AEP deadline?
Missing AEP (December 7) means you generally cannot change Medicare plans until the next AEP the following year, unless you qualify for a Special Enrollment Period (moving, losing other coverage, plan contract termination, etc.). Being locked into a plan with higher costs or a changed formulary for an entire year can be expensive — reviewing during AEP is always worth 30 minutes.
Medicare plans change every January 1 — and the plan that was perfect for you this year may cost significantly more or cover your drugs differently next year. The Annual Enrollment Period (October 15–December 7) is your window to respond to these changes before they lock in. Here is exactly what to review.
Start With Your ANOC Letter
Your plan mails an Annual Notice of Change (ANOC) every September. If you haven't received it by October 1, call your plan and request one. The ANOC is a legal requirement — every Medicare plan must send it. It details every change for the upcoming year. Read it with four questions in mind:
- Is my monthly premium changing — and by how much?
- Are any of my medications moving to a higher tier or being removed from the formulary?
- Are my doctors and preferred pharmacy still in-network?
- Are any benefits I use (dental, vision, fitness) changing or being reduced?
Drug Formulary Changes — Most Common Problem
Formulary changes are the most frequent and most financially significant changes that seniors miss. A medication that cost you $10/month this year can move to a tier costing $80/month next year — a $840 annual increase on a single drug. Plans can also remove drugs from the formulary entirely, requiring you to get a formulary exception or switch plans.
How to check: log into your plan's website and look for "2027 Drug List" or "Formulary Changes" — plans are required to post this before AEP opens. Enter each of your medications and note any tier changes, new restrictions (prior authorization, step therapy), or removals.
Network Changes — Doctors and Pharmacies
Providers can leave Medicare Advantage networks with 30 days' notice. A specialist you see regularly might not be in your plan's network next year. Call your doctors' offices directly (rather than relying on the plan's online directory, which can be outdated) and ask: "Are you in-network with [plan name] for 2027?" Do the same with your preferred pharmacy — preferred pharmacy status affects your drug copays significantly.
The AEP Benchmark Comparison
Even if your ANOC shows minimal changes, spend 20 minutes on Medicare.gov Plan Finder comparing your total cost against alternatives. Plans in your area may have improved significantly. Seniors who comparison shop during every AEP consistently pay less than those who auto-renew annually.
The one number that matters: total estimated annual cost (premium × 12 + estimated drug costs for your specific medications). Use Medicare.gov Plan Finder to calculate this across all plans in your area. See our step-by-step Plan Finder guide.
When to Definitely Switch
- Any of your medications moved to a higher tier — calculate the annual cost difference
- A medication was removed from the formulary — you'd need an expensive exception process
- Your premium increased by $30+/month
- A doctor you see regularly left the network
- Plan Finder shows another plan saves $500+ annually on equivalent coverage
- Find and read your ANOC letter — arrives September, required reading before AEP
- Check every medication on the 2027 formulary for tier changes
- Call your doctors directly to confirm 2027 network status
- Run Plan Finder comparison even if you plan to stay — takes 20 minutes
- December 7 is the hard deadline — don't wait until the last week
→ How to Use Medicare Plan Finder
→ Complete AEP Action Plan
→ Signs It's Time to Switch Plans