If you’re on Medicare, like I am, you know this is the time of year when you have to choose if you’re going to change Medicare plans or keep the one you have. The period of enrollment in new plans is from October 15 thru December 7.

If you like your plan, you may or may not be able to keep your plan. Some Medicare Advantage plans are being terminated, while Traditional Medicare will always be available. But assuming you’ll be happy with your plan next year just because you were happy last year may be a big mistake.

Anna Wilde Mathews, writing for The Wall Street Journal, tells us to beware of making assumptions. “It is going to be a tough year for seniors shopping for Medicare coverage. If you don’t choose wisely, you might get hit with surprise bills for your medications, or learn too late that your doctors are out of network. For the third year in a row, major Medicare insurers are pruning some benefits while adding bigger out-of-pocket charges such as deductibles. “Medicare Advantage plans are leaning toward focusing on margin repair,” said Michael Ha, an analyst with Baird. “And what does that mean exactly for seniors? It means their benefits are going to get cut again.” “

Medicare Advantage

This year, a lot of seniors will be looking for new coverage. Around 3.2 million people are enrolled in Medicare Advantage plans that are closing or withdrawing from their markets, according to Chapter, a national Medicare brokerage.

It is more important than ever to verify that your doctors and other healthcare providers are included in your plan, because hospital systems are increasingly breaking off their Medicare Advantage ties. The online network lists for Medicare Advantage plans may not be up-to-date. It is best to call your doctor’s office, and the insurer.

Seniors will still have access to lots of Medicare Advantage plans with no premium.

The bite will come elsewhere: Insurers are increasing what you will pay when you get care. According to analysts at Leerink Partners, Medicare Advantage plans are increasing maximum out-of-pocket costs, including copays and other charges, by 10% on average for 2027. Primary-care doctor visits are mostly still free. But some Medicare Advantage plans are increasing copays for specialists or switching to coinsurance, which means you pay a share of the total cost, rather than a flat amount.

If you want the least restrictive option, you can choose traditional Medicare, but you will need a special supplemental policy, known as a Medigap plan, to protect you from big out-of-pocket charges. But traditional Medicare still offers the greatest freedom to choose your own doctor and to avoid needing referrals to see specialists.

Drug Plans

Some of the trickiest issues this year are coming in the drug benefits.

The number of stand-alone drug plans continues to shrink—to 316 next year, a 12% drop from this year and a 55% falloff since 2024. The Medicare agency says overall, the average premium for Part D plans—which cover prescription medications—is barely rising. Still, consulting firm Avalere Health found that many people will face a substantial increase in their monthly bill if they choose to hang onto the same Part D plan next year.

It’s a good idea to review your plans on Medicare.gov. There you can compare plans and estimate your annual spending depending on your prescription drugs. I recommend you take the time to do that to avoid any surprises in the new year.