If you have a Medicare Advantage plan, you may be perfectly happy with your coverage. Your doctors are in network, your prescriptions are covered, and your plan has worked well for you.
But here’s something important to remember:
Your Medicare Advantage plan can change from year to year.
That doesn’t necessarily mean you need to change plans. It does mean you should take a look at what’s changing before you automatically renew your coverage for 2027.
And this year, that review may be especially important. Medicare Advantage insurers are making changes to their plan offerings for 2027, and some enrollees will need to choose new coverage for 2027.
So, what should you be looking for?
Start With Your Annual Notice of Change
If you’re enrolled in Medicare Advantage, your plan should send you an Annual Notice of Change (ANOC) each fall.
This is one piece of mail you don’t want to throw away.
The ANOC explains how your plan is changing for the upcoming year. It can include changes to premiums, deductibles, copays, benefits, prescription coverage and other aspects of your plan.
Think of it as your annual reminder to ask:
“Is this still the right plan for me?”
You don’t necessarily need to change anything. But you should know what you’re agreeing to for another year.
Is Your Plan Still Available?
One of the first things to determine is whether your current Medicare Advantage plan will even be offered in 2027.
Insurance companies can decide not to renew certain Medicare Advantage plans or make changes to the areas where they offer coverage. Recent changes in the Medicare Advantage market mean some enrollees will need to choose new coverage for 2027.
If you receive a notice that your plan is ending, don’t ignore it.
You’ll have options, but you’ll want to understand those options before making a decision.
Check Your Doctors and Hospitals
This is one of the biggest reasons to review your plan every year.
If you have a Medicare Advantage plan, check to make sure your primary care doctor, specialists and preferred hospitals are still part of your plan’s network.
A plan can look great on paper, but if your favorite doctor or the hospital you typically use is no longer in network, that could make a big difference.
Your healthcare providers should be one of the first things you check when comparing plans.
Review Your Prescription Coverage
Your medications matter, too.
Look at the prescriptions you take regularly and make sure they will continue to be covered in 2027. Also check whether they have moved to a different drug tier or whether your costs are changing.
Your preferred pharmacy and the pharmacies included in the plan’s network can also affect what you pay.
A plan that was a good fit for your prescriptions in 2026 may not be the best fit in 2027.
Don’t Look Only at the Monthly Premium
It’s easy to look at a plan with a $0 or low monthly premium and think you’ve found a great deal.
But the premium is only one piece of the puzzle.
Also look at:
- Deductibles
- Copays
- Coinsurance
- Maximum out-of-pocket costs
- Prescription drug costs
- Specialist costs
- Hospital costs
- Costs for services you use regularly
A plan with a low monthly premium isn’t necessarily the least expensive plan for you.
The best plan is the one that fits your healthcare needs and your budget.
Take Another Look at the Extra Benefits
Medicare Advantage plans often offer benefits beyond Original Medicare, such as dental, vision, hearing or other supplemental benefits.
But these benefits can change from year to year.
If you use a particular benefit, make sure you understand exactly what will be available in 2027.
Don’t assume that because a benefit was included this year, it will be offered in exactly the same way next year.
What If You Like Your Current Plan?
You may look at everything and decide that your current plan is still the best choice.
That’s perfectly fine.
Reviewing your Medicare coverage doesn’t mean you have to change it.
The goal is simply to make an informed decision rather than automatically allowing your coverage to roll into another year without knowing what’s changed.
Medicare’s Annual Enrollment Period runs from October 15 through December 7, and changes made during this period generally take effect January 1. During Open Enrollment, you can switch Medicare Advantage plans, change between Medicare Advantage and Original Medicare, or make changes to your Part D prescription drug coverage.
Medicare Advantage Isn’t “Set It and Forget It”
Your health needs can change.
Your prescriptions can change.
Your doctors can change.
And your Medicare plan can change.
That’s why taking a little time each fall to review your coverage is so important.
Don’t wait until January to discover that your doctor is no longer in network or that your prescription costs have changed.
Start with your Annual Notice of Change. Make a list of the doctors and prescriptions that matter most to you. Then compare your options.
And remember—you don’t have to figure it all out on your own.
Have Questions About Your Medicare Coverage?
If you or someone you know is wondering whether your Medicare Advantage plan is still a good fit for 2027, let me know! I’m happy to help you review the changes, understand your options and make an informed decision about your coverage.
Medicare can be complicated. It doesn’t have to be confusing.
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