If your Medicare plan worked fine last year, it's tempting to let Open Enrollment come and go and assume nothing's changed. But behind the scenes, premiums, drug costs, and plan benefits get rebuilt every single year — which means the plan that fit you in 2026 isn't guaranteed to fit the same way in 2027. Here's what actually changes every year, what's different this time around, and how a licensed New Jersey broker can help you check your plan in the time it takes to have a conversation, at no cost to you.
When Is Medicare Open Enrollment, and What Can You Actually Change?
Medicare's Annual Election Period (AEP) runs October 15 through December 7 every year, and whatever you choose takes effect January 1. During this window, you can switch from Original Medicare to a Medicare Advantage plan, move from Medicare Advantage back to Original Medicare, switch from one Medicare Advantage plan to another, or enroll in or change a stand-alone Part D drug plan.
One thing AEP doesn't cover: Medigap (Medicare Supplement) plans, which follow separate underwriting rules. Outside your initial enrollment window, switching a Medigap plan usually means answering health questions again — New Jersey does extend guaranteed-issue protection to beneficiaries under 65 who qualify for Medicare due to disability, a protection most states don't offer, but general year-round guaranteed issue isn't the rule here.
If you pick a Medicare Advantage plan during AEP and change your mind, there's one more chance: the Medicare Advantage Open Enrollment Period, January 1 through March 31, which allows one additional switch.
What Actually Changes Every Year
Premiums and Deductibles
For 2027, the standard Medicare Part B premium is projected to rise to about $209.50 a month, up from $202.90 in 2026, with the Part B deductible climbing to roughly $292. On the drug side, the Part D base premium is projected around $41.33 a month and the Part D deductible is set to rise to about $700, up from $615. Higher-income beneficiaries also continue to see IRMAA surcharges on Part B and Part D, based on tax returns from two years prior.
The Part D Out-of-Pocket Cap Keeps Moving
The old prescription drug "donut hole" is gone for good, replaced by a permanent three-phase Part D design with an annual out-of-pocket cap. But that cap isn't frozen — it's projected to rise to about $2,400 in 2027, up from $2,100 in 2026. That's good news if you hit the cap, but it's a number worth knowing rather than assuming, since it resets every January 1.
Your Plan Changes Even If You Do Nothing
Medicare Advantage carriers are allowed to adjust premiums, copays, deductibles, provider networks, and drug formularies every year — even for people who don't touch a thing. That's why plans are required to mail an Annual Notice of Change (ANOC) by September 30, spelling out exactly what's different for the coming year. It's easy to toss that letter in with the junk mail. Don't.
Common Mistakes People Make During Open Enrollment
- Assuming last year's plan renews unchanged and skipping the ANOC letter entirely
- Comparing plans on premium alone without confirming your doctors, hospital, and pharmacy are still in-network
- Not rechecking your prescription formulary — drugs get added, removed, or shifted to a different cost tier every year
- Trying to switch a Medigap plan and assuming the same guaranteed-issue rules from your initial enrollment still apply
- Missing the December 7 deadline and having to wait for the next window
How We Can Help
New Jersey counties average around 40 Medicare Advantage plans each in 2026, with premiums ranging from $0 to well over $100 a month — so "changed a little" can mean a very different plan than the one you originally signed up for. DGS Benefits helps New Jersey Medicare beneficiaries compare Medicare Advantage, Part D, and Medigap options side by side every year, at no cost to you.
If your Annual Notice of Change arrived and you're not sure what it means for you, or you just want a second set of eyes before December 7, contact DGS Benefits today for a free Medicare plan review.