If your plan continues to be offered in your service area and you remain eligible for it, your enrollment generally continues into 2027 automatically. But reviewing your coverage once a year is worth your time, because what you pay and what's covered can shift.
What Changes Every Year
Several things can change when the calendar rolls over.
Your costs can go up or down. Your plan's premiums, deductibles, and copays might move in either direction. If you take prescription medications regularly, knowing these details matters.
Your drug coverage can change. A plan's drug formulary can change from year to year. A formulary is the list of medicines the plan covers. The drugs you take, what tier they're on, and whether there are any usage restrictions can all shift.
Your provider and pharmacy network might shift. A doctor or hospital you've used might leave your plan's network, or a new one might join. The same can happen with pharmacies. If you have a preferred provider or pharmacy, it's worth checking whether they're in your 2027 network.
Your benefits can be added or dropped. Plans may add or remove supplemental benefits. These can include extras like dental, vision, hearing, fitness programs, or transportation services.
The Annual Notice of Change
If you're in a Medicare Advantage (MA) plan or a stand-alone Part D prescription drug plan, your plan sends you a document called the Annual Notice of Change (ANOC). The ANOC outlines important changes to your plan's costs, coverage, benefits, and service area for 2027.
Watch your mail for the ANOC from your plan. If you take prescription medications, pay close attention to what the ANOC says about drug coverage changes. You'll also want to review your plan's 2027 formulary on your plan's website or by phone. The formulary shows you what drugs are covered and what tier each is on.
What to Review for 2027
1. Pull out your current plan documents. Your plan identification (ID) card and your ANOC are good starting points. You might also have the Evidence of Coverage document. These documents provide information about what's covered and what you pay.
2. Check your prescriptions against the 2027 formulary. Log into your plan's website or call the plan's pharmacy team. Ask these questions:
- Are my medications on the 2027 formulary?
- If yes, what tier are they on?
- Are there any usage restrictions or prior authorization requirements?
Then check your plan's 2027 cost-sharing information to see what your copayment or coinsurance will be for that tier.
3. Verify your doctors and hospitals are in-network. Use your plan's provider directory online or by phone to check the doctors you see regularly. Then contact those doctors' offices directly. Confirm that each provider expects to participate in your plan for 2027. If your primary care physician or a specialist you depend on is no longer participating, that's important information.
4. Check your pharmacies. If you use a specific pharmacy or chain, confirm it's in your plan's 2027 network. Check whether the pharmacy is part of the preferred network or standard network if that distinction applies to your plan. This is separate from whether your medications are covered, so verify both.
5. Compare your plan's cost structure. Look at your plan's 2026 and 2027 premiums, deductibles, copayments, coinsurance, and other cost-sharing amounts. The ANOC and your plan's website will have this information. Comparing these side by side can help you identify which costs are changing and by how much.
When It May Be Worth Comparing Your Options
Your review may turn up changes that matter to you. Examples include:
- A medication no longer covered
- A key doctor out of network
- Changes in premiums, deductibles, copayments, coinsurance, or other cost-sharing amounts
If you find something that affects your care or costs, you can look at other options during the Annual Enrollment Period (AEP). The AEP runs from October 15 through December 7 each year. This is when you can make changes to your coverage. Plan changes you make during AEP generally take effect January 1 of the next year. Your plan must get your enrollment request by December 7.
Staying Informed
The point of an annual review is to understand what's changing in your coverage before the new year begins. Checking your ANOC, verifying your doctors and pharmacies, and understanding your plan's 2027 costs can help you make an informed decision about your coverage for the coming year.