Medicare’s Annual Enrollment Period runs from October 15 through December 7. For Minnesota beneficiaries, this year’s review may be important. The goal is to confirm that coverage working today will continue meeting your needs in 2027.
Premiums, deductibles, copays and prescription costs remain leading concerns nationally. Minnesotans may also see changes to Medicare Advantage and Cost plans. Carriers can discontinue plans, introduce replacements or reduce service areas. Some counties may have fewer choices, while others could gain Cost Plan availability. Final details were pending at the time of the writing of this article.
Even when a plan continues, its provider network, prescription formulary, pharmacy arrangements, and extra benefits may change. Dental, vision, hearing, transportation and over-the-counter allowances should not be assumed to remain unchanged.
Your Annual Notice of Change, or ANOC, is the best place to begin. Plans generally deliver it by September 30. The notice explains changes taking effect January 1, including premiums, copays, covered medications and benefits. If your plan is ending, it should also explain your options.
Research shows many beneficiaries overlook this document. A 2025 PAN Foundation survey found only 44% always review their ANOC. DEFT Research found that members learning about plan changes after January 1 were four times more likely to switch during Open Enrollment and generated twice as many complaints. Reviewing your ANOC now can help prevent surprises.
Prescription coverage deserves attention. Negotiated Medicare prices for 15 additional high-cost medications take effect in 2027, but that does not mean every medication is covered by every plan. The standard Part D deductible is scheduled to rise to $700, and the annual out-of-pocket threshold for covered Part D medications will increase to $2,400. The standard Part B premium is projected at approximately $209.50 per month, as of the writing of this article.
Before comparing plans, gather your medication names and dosages, doctors and clinics, preferred pharmacies and expected healthcare needs. Compare total yearly costs, prescription coverage and provider access before focusing on extra benefits or a low premium. With more changes possible this year, consider working with a knowledgeable Medicare insurance agent you trust. A careful review can help you enter 2027 confidently that your coverage still fits your healthcare needs and budget.
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