The return of Jimmy Walker and Joe Namath to our TVs every fall coincides with the Medicare Annual Enrollment Period that begins October 15th and ends December 7th. This is when Medicare enrollees can review and update their Part D or Medicare Advantage plan choice for the upcoming year. Here are the highlights:

There will be continued disruption with Medicare Part D and Medicare Advantage plans in 2027. There will be fewer Part D plans available in 2027, and it is very possible that the premiums will be higher. The formulary, or list of prescriptions that each plan covers is predicted to shrink as well, which will affect those with name brand or specialty medications. It will continue to be very important to do a review of your current Part D plan even if has “been a good plan in the past” because it may not even be offered in 2027.

The Medicare Prescription Payment Plan (M3P) that began in 2025 will continue to be offered. This provides individuals on Medicare who have expensive prescriptions to “smooth out” the overall expense throughout the 12 months of their Part D plans.

Disruption is also happening with Advantage plans. If a carrier terminates a plan for the upcoming year, the current members have three choices: 1-Choose a different Medicare Advantage plan. 2-Return to Original Medicare (Part A and B) with a stand-alone Part D plan, or 3-Return to Original Medicare and add a Part D plan AND a Medicare Supplement. If an Advantage plan is leaving the market, those plan members have a special situation that guarantees the right to enroll in a Medicare Supplement without answering questions about their health history. For some it may be worth the extra cost to switch back to a Supplement plan due to network limitations or expected treatment costs.

Between watching Joe Namath commercials, it is important that Medicare enrollees read their Annual Notice of Change (ANOC) documents that are sent in September and check the formulary to make sure their prescriptions will still be covered. If enrolling in an Advantage plan for 2027, please double check that preferred providers and facilities are in network with the new plan for 2027.

Finally, and perhaps most importantly – ask for assistance.

The licensed insurance agents at On Point insurance Agency are here to help review options and make 2027 Medicare plan choices.