Two-Thirds of Medicare Beneficiaries Typically Skip Plan Comparisons. Open Enrollment Begins in Four Days.

The Medicare Annual Election Period opens October 15 and runs through December 7, with coverage changes effective January 1, 2027. A KFF review published October 9 finds that nearly two-thirds of Medicare beneficiaries, 65 percent, did not compare their coverage options during the 2024 open enrollment period. The share was higher among people in traditional Medicare, at 71 percent, than among Medicare Advantage enrollees, at 60 percent.

The stakes this year are higher than in most recent cycles. The average Medicare beneficiary can choose from 35 Medicare Advantage plans for 2027, according to KFF, including 28 that also cover prescription drugs. At the same time, the plan landscape has shifted considerably: multiple insurers have exited counties, hospital systems around the country have left Medicare Advantage networks in 2026, and carriers have pulled back on supplemental benefits including dental allowances and premium credits known as Part B givebacks.

During the AEP, anyone with Medicare can switch between traditional Medicare and a Medicare Advantage plan, move between Medicare Advantage plans, or join, change, or drop a standalone Part D prescription drug plan. Coverage changes go into effect January 1, 2027, if the plan receives the enrollment request by December 7. Beneficiaries who switch from Medicare Advantage back to traditional Medicare should review their options for separate drug coverage and for Medigap supplemental coverage, which carries its own eligibility restrictions outside designated enrollment windows.