Navigating Medicare rules can feel like trying to hit a moving target. Every year brings changing costs, plan updates, network changes, and new rules, making it difficult to know what you need to pay attention to and what you can safely ignore.
Recently, one of our volunteers suggested we research the upcoming Medicare changes for 2027 and share what we learned with our community. With that in mind, we reviewed two educational videos that discuss potential changes and things Medicare beneficiaries may want to watch for in the coming year.
Video 1: BIG Medicare Changes Coming in 2027 — What You Need to Know
Stephanie Abt is a licensed independent Medicare broker with more than 12 years of experience in the Medicare insurance industry. In this video, she discusses several Medicare topics related to 2027 and offers suggestions for what beneficiaries may want to review.
Among the topics she covers:
- The video covers:
- Part D premiums: She discusses the possibility of changes to premiums, deductibles, formularies, and available prescription drug plans.
- Prescription drug out-of-pocket costs: She discusses the expected 2027 Part D out-of-pocket limit of $2,400.
- Medicare Advantage plans: She talks about possible changes to provider networks, copays, benefits, and plan availability.
- Plans that change or end: She explains what options may be available if a Medicare Advantage plan is changed or discontinued.
- High-Deductible Plan G: She discusses High-Deductible Medigap Plan G and how some people are considering it alongside other types of supplemental coverage.
- Preparing for 2027: She recommends paying attention to your Annual Notice of Change and having an updated list of your medications and doctors when reviewing your coverage.
Video 2: Shocking Medicare Plan Changes Coming for 2027
The Retirement Nerds is an independent insurance education channel that focuses on explaining Medicare and insurance topics to consumers.
This video focuses on the Annual Notice of Change, or ANOC, which is sent to people enrolled in Medicare Advantage and standalone Part D plans. The video explains that the document outlines changes to a plan for the upcoming year.
The video discusses four possible situations:
1. Your plan has little or no meaningful change.
If your premiums, provider network, prescription coverage, deductibles, copays, and other important costs remain suitable for your needs, the plan may automatically renew.
2. Your plan has meaningful changes.
The Retirement Nerds recommend carefully reviewing changes to premiums, hospital and pharmacy networks, drug formularies, dental, vision and hearing benefits, and costs for services you expect to use.
3. Your plan has major negative changes.
Their message is simple: don’t panic. A significant change to one plan does not necessarily mean every plan in your area has changed in the same way. Your current coverage remains in place through December 31, giving you time to evaluate your options.
4. Your plan is being terminated.
If you receive notice that your plan will not be available in 2027, action is required. The video explains the enrollment opportunities that may become available, including a Special Enrollment Period and, in certain circumstances, guaranteed-issue rights for Medigap coverage.
The Dos and Don’ts
Both videos offer suggestions for things Medicare beneficiaries may want to consider during the enrollment period.
DO:
- Read your Annual Notice of Change.
- Review your plan for 2027.
- Check whether your doctors and healthcare providers are still in your network.
- Review your prescription medications and coverage.
- Look at premiums, deductibles, copays, and other costs.
- Compare available plans if you decide to make a change.
- Review new plan information beginning October 1.
- Keep the Medicare Annual Enrollment Period, October 15 through December 7, in mind.
- Ask questions and seek help from Medicare.gov or a licensed Medicare professional if needed.
DON’T:
- Assume your plan will remain exactly the same from one year to the next.
- Throw away your Annual Notice of Change without reviewing it.
- Make a Medicare decision based only on an advertisement or mailer.
- Assume that changes to one plan apply to every plan.
- Wait until the last minute to review your information.
- Focus only on the monthly premium. Other costs and coverage details may also be important.
- Let advertising or sales messages pressure you into making a decision.
A Few Things to Keep in Mind
The two videos cover a lot of information, but the main message is simple: pay attention to your own Medicare plan and the information you receive about it.
Your Annual Notice of Change is one place to start if you have Medicare Advantage or a standalone Part D plan. Take a look at what’s changing, make note of anything that may affect you, and ask questions if you aren’t sure what something means.
Medicare coverage is personal, and what applies to one person may not apply to another.
These takeaways are a great starting point, but watching the full videos ensures you don’t miss details that may be important to your personal situation. You can also explore Medicare.gov or speak with your Medicare specialist for additional guidance.
This information is provided for educational purposes only and is not intended to provide individual Medicare or insurance advice.