⏰ AEP 2027 · Oct 15 – Dec 7, 2026
Medicare AEP 2027 — your prep guide.
Annual Enrollment Period for 2027 Medicare plans runs October 15 through December 7, 2026. Changes take effect January 1, 2027. The 2026 Part D $2,000 cap continues. Medicare price negotiation kicks in for 10 high-cost drugs. Carriers are renegotiating networks. Most members who actively review save $1,000+ per year. Get matched with a licensed advisor now so you're ready Day 1.
What is AEP and why does it matter?
The Medicare Annual Enrollment Period (AEP) is the once-a-year window when every Medicare beneficiary can change their Medicare Advantage or Part D prescription drug plan. AEP runs October 15 through December 7 every year. Changes take effect January 1 of the following year. AEP for 2027 plans runs October 15, 2026 – December 7, 2026.
During AEP, you can:
- Switch from Original Medicare to a Medicare Advantage plan, or vice versa
- Switch from one Medicare Advantage plan to another
- Switch from one Part D drug plan to another, or add Part D for the first time
- Drop Part D entirely (rarely a good idea — permanent late-enrollment penalty if you go 63+ days without creditable coverage)
If you make multiple changes during AEP, only the last change you make sticks.
The hidden cost of NOT reviewing: Carriers can change premiums, drug formularies, provider networks, dental allowances, and benefits each year. The plan that was best for you in 2026 may not be best in 2027. Members who passively renew often pay $500-$2,500 more per year than they could.
What's changing for 2027 Medicare plans?
The 2027 plan year continues several major shifts and introduces some new ones:
Continuing from 2026:
- $2,000 Part D out-of-pocket cap. Once you spend $2,000 on covered Part D drugs in 2027, you pay $0 for the rest of the year. Massive protection for members on expensive specialty drugs.
- $35/month insulin cap. Continues for covered insulins on Part D and MA-PD formularies.
- Medicare Prescription Payment Plan (M3P). Spread your $2,000 OOP across 12 monthly payments instead of paying upfront at the pharmacy.
New for 2027:
- Medicare price negotiation effective for first 10 negotiated drugs: Eliquis, Jardiance, Xarelto, Januvia, Farxiga, Entresto, Enbrel, Imbruvica, Stelara, Fiasp/NovoLog. Carriers will adjust formulary placement and prior authorization to reflect new economics. Watch your specific drugs in your plan's 2027 formulary.
- Star Rating shifts. Many plans saw Star Rating changes in the 2026 release; 2027 ratings will be released in October 2026. 4+ star plans get bonus payments → richer benefits.
- Carrier exits and consolidations. Several carriers reduced market footprint in 2026. Watch for non-renewal notices in early October.
Watch list (could change):
- ACA subsidy cliff (parallel concern, not Medicare): If enhanced ACA subsidies expire 12/31/2025 without Congressional extension, this affects pre-Medicare retirees and the household members of Medicare beneficiaries.
- IRMAA brackets adjust annually. Higher-income beneficiaries should project 2024 income (basis for 2027 IRMAA) carefully.
Your AEP 2027 prep checklist
- September 2026 — wait for ANOC + EOC. Carriers must mail Annual Notice of Change (ANOC) by Sept 30. Read it. Specifically check: premium changes, formulary changes affecting YOUR drugs, network changes affecting YOUR doctors, OOP max changes.
- Verify your drug list. Have your current prescriptions written down (drug name, dose, monthly quantity). Use Medicare.gov Plan Finder to compare total annual drug cost across plans.
- Verify your providers. List your PCP, all specialists, and any planned procedures. Check each plan's network for your specific providers.
- Check your Star Rating. Plans below 4 stars often have weaker benefits and customer service. Use the 5-star SEP if a 5-star plan is available in your area.
- Project 2024 income for IRMAA. If above $106k single / $212k joint, you'll pay an IRMAA surcharge in 2027 based on 2024 tax return.
- Use the trial right if applicable. If you joined Medicare Advantage at age 65 within the last 12 months and want to return to Original Medicare + Medigap, you have guaranteed-issue Medigap rights.
- Use state-specific Medigap protections. If you're in CA/OR/ID/IL/NV/LA/OK/MD with birthday rules, MO with anniversary rule, NY/CT/MA with year-round protections — re-shop carriers strategically.
- Schedule your free AEP review. SilverEdge appointments fill up fast in November. Book early — call (866) 534-1886.
The AEP 2027 calendar
| Date | What happens |
|---|---|
| September 30, 2026 | Carriers must mail Annual Notice of Change (ANOC) and Evidence of Coverage (EOC) for 2027 plan changes |
| October 1, 2026 | Plan marketing for 2027 plans begins. Medicare.gov Plan Finder updated with 2027 plan data. |
| October 15, 2026 | AEP opens — you can start changing your Medicare Advantage or Part D plan |
| December 7, 2026 | AEP closes at 11:59pm in your time zone. Last day to make changes for 2027 coverage. |
| January 1, 2027 | Your AEP-elected 2027 Medicare plan takes effect |
| January 1 – March 31, 2027 | OEP — Medicare Advantage members can switch MA plans once OR return to Original Medicare |
Common AEP mistakes to avoid
- Auto-renewing without reading the ANOC. Most members renew without reading. Hidden formulary changes can cost thousands.
- Picking by premium alone. A $0 premium plan with a $200/mo specialty drug copay costs you more than a $20/mo premium plan with $40/mo copays. Calculate total annual cost.
- Ignoring Star Ratings. 5-star plans get year-round switching SEP. 3-star or lower plans face termination after 3 consecutive years.
- Missing the AEP window. If you wake up December 8 and want to switch, you can't (with rare exceptions). Mark your calendar for October.
- Not verifying provider networks. Carriers renegotiate hospital and specialist contracts annually. Your in-network doctor in 2026 may be out-of-network in 2027.
- Dropping Part D thinking you don't need it. The permanent late-enrollment penalty is 1% per uncovered month, for life. Skipping a year you don't take meds, then signing up later, costs you for life.
- Not using state-specific Medigap protections. Most members on Medigap don't know their state's switching rules.
Free AEP 2027 review — 14 minutes, no obligation.
A licensed SilverEdge advisor pulls your current plan, your prescriptions, your providers, and compares against every Medicare option in your ZIP for 2027. If a better plan exists, we switch you. If your current plan is still best, we leave you alone. Either way, free.
During AEP (Oct 15 – Dec 7), we extend hours into evenings and weekends. Same-business-day callback typical.