Are you prepared for the coming changes in Medicare?

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What Medicare Beneficiaries Need to Know for 2027

Medicare can be confusing, and plans often change from one year to the next. The Medicare Annual Enrollment Period runs from October 15 through December 7 each year, giving beneficiaries an opportunity to review their coverage and determine whether it will continue to meet their healthcare and prescription needs in the coming year.

The 2027 Annual Enrollment Period may be especially important. Changes resulting from the Inflation Reduction Act continue to affect Medicare prescription drug coverage and the way costs are shared among beneficiaries, insurance companies, drug manufacturers, and Medicare. As insurers respond, beneficiaries may see changes to premiums, formularies, pharmacy networks, provider networks, copayments, supplemental benefits, or plan availability.

That does not mean every beneficiary needs to change plans. It does mean that reviewing your Annual Notice of Change and comparing your current coverage with the available 2027 Medicare plans will be particularly important.

Medicare Advantage Plans

Medicare Advantage plans combine Original Medicare benefits through a private insurance company and may include prescription drug coverage and additional benefits. However, premiums, provider networks, drug formularies, copayments, and supplemental benefits can change each year.

Some insurance companies may reduce their service areas, discontinue certain plans, or revise benefits as they respond to changing Medicare requirements and rising healthcare costs. Before automatically renewing your coverage, make sure your physicians, hospitals, prescriptions, and preferred pharmacy will remain covered under your plan for 2027.

Humana has announced that its 2027 Medicare Advantage plan and market exits are expected to affect approximately 600,000 members nationwide. Humana intends to retain many of those members in other available plans, but the announcement illustrates why beneficiaries should not assume their present coverage will remain unchanged. Other insurers are also reassessing selected markets and plan offerings as they respond to rising costs and profitability pressures.

*updated: 08/2026

Medicare Supplement Insurance

Medicare Supplement insurance, also known as Medigap, works alongside Original Medicare to help pay certain deductibles, coinsurance, and other costs. These plans generally allow beneficiaries to visit any healthcare provider nationwide who accepts Medicare, without relying on a Medicare Advantage provider network.

A Medicare Supplement may offer greater predictability and provider flexibility, but premiums and eligibility considerations vary. Depending on when you apply, medical underwriting may be required. We can help you compare Medicare Supplement plans and rates from major insurance companies and explain how a supplement works with a separate Medicare Part D prescription drug plan.

Medicare Part D Prescription Drug Coverage

Medicare Part D plans help cover prescription medications, but each plan has its own formulary, preferred pharmacy network, premiums, deductibles, and cost-sharing requirements. A plan that worked well this year may not be the most appropriate choice for 2027 if your medications change or the plan revises its formulary or pharmacy arrangements.

The Inflation Reduction Act redesigned the Medicare Part D benefit and placed an annual limit on beneficiaries’ out-of-pocket spending for covered Part D medications. That limit and other Medicare figures can change annually. Once final 2027 plan details are released, we can compare your medications and preferred pharmacies with the plans available in your area.

Experienced Medicare Guidance at No Cost to You

RLee Insurance Solutions provides personal Medicare guidance in Lafayette and throughout Indiana. We also serve clients in Illinois, Iowa, Kentucky, Michigan, and Texas. We help answer important questions such as:

There is no additional cost to work with our Medicare agents. We compare plans from major insurance companies, review your medications and preferred pharmacies, explain the differences clearly, and help you make an informed decision based on your individual needs.

Whether you are enrolling in Medicare for the first time or reviewing existing coverage for 2027, we are here to help you understand your options and choose with confidence.