Five Things to Check Before Choosing Your 2027 Medicare Coverage

Even if you’re happy with your current Medicare coverage, taking time to review next year’s changes could help you avoid unexpected expenses.

1. Check your prescription drug coverage.

Start with the medications you take regularly. Make sure each one is included in your plan’s 2027 formulary, or list of covered drugs.

A medication covered this year might move to a different pricing tier, require prior authorization, or no longer be covered next year.

2. Don’t compare plans by premiums alone.

A plan with a low monthly premium isn’t necessarily the least expensive option.

Compare deductibles, copayments, coinsurance, and the estimated annual cost of your prescriptions. The total can vary substantially from one plan to another.

3. Make sure your doctors and pharmacies are included.

If you have Medicare Advantage, verify that your preferred doctors, hospitals, and specialists participate in the plan’s 2027 network.

For prescription coverage, check whether your regular pharmacy remains preferred. Switching pharmacies can sometimes change what you pay.

4. Find out whether you qualify for financial assistance.

Medicare’s Extra Help program assists eligible beneficiaries with prescription drug premiums and other costs.

Medicare Savings Programs can also help qualifying individuals pay certain Medicare expenses. Eligibility depends on income, resources, and applicable state rules.

5. Get free help before you decide.

You don’t have to figure everything out alone.

Virginia residents can contact the Virginia Insurance Counseling and Assistance Program (VICAP) for free, unbiased Medicare counseling.

You can also compare available plans using the official Medicare Plan Finder or call 1-800-MEDICARE (1-800-633-4227).

Medicare’s annual open enrollment period ends December 7, 2026, with most coverage changes taking effect January 1, 2027.

For many beneficiaries, spending a little time reviewing their coverage now could prevent an expensive surprise after the new year begins.