Every fall, Medicare gives people a window to choose their coverage for the coming year. This year, Medicare Open Enrollment runs from October 15 through December 7, 2026. The choices you make in that window set your 2027 coverage, which generally takes effect January 1, 2027. (Medicare.gov)
It can be tempting to skip this review because last year's plan "seemed fine." That is understandable. But plans can change their premiums, drug lists, and provider networks from year to year. A short, calm review is part of good stewardship.
This article is educational. It is not insurance, tax, or investment advice. Matt25 Capital does not sell Medicare plans. For plan-specific help, Medicare.gov, 1-800-MEDICARE, and Texas's free SHIP counseling program (HICAP) are good places to start.
If you are already on Medicare, this checklist is for your annual review.
If you are in your early 60s and Medicare is still a few years away, read it anyway. Knowing the yearly rhythm now makes the first enrollment feel less like a cliff. If you are still mapping the years before Medicare, our Woodlands and Houston Pre-Retiree Money Map is a good companion.
If you have a Medicare Advantage or Part D drug plan, your plan generally sends an Annual Notice of Change each fall. It lists what will be different in 2027. You may see it called the ANOC. Check your plan mail for it.
Set it on the table and look for three things:
Before you compare anything, write down:
This list keeps the comparison honest. It is easy to be pulled toward a low premium and miss a drug that is no longer covered.
The Medicare Plan Finder at Medicare.gov lets you enter your drugs and pharmacy and compare plans in your area. In The Woodlands and greater Houston, there are many options, which can feel like noise. The list from Step 2 is your filter.
As of October 13, 2026, CMS has not announced the 2027 standard Part B premium, deductible, or income-related surcharge brackets. CMS has historically released those in November. Higher-income households may also pay an income-related surcharge; our IRMAA 2027 guide explains how it works. For reference, the 2026 standard Part B premium is $202.90 per month and the 2026 Part B deductible is $283. (CMS)
You may see projected 2027 figures online. Those are estimates, not official numbers. We will wait for CMS.
If you receive Social Security, your Part B premium may be deducted directly from your benefit. So the Social Security cost-of-living adjustment and the Part B premium work together. What lands in your bank account is the net.
That is why we encourage people to look at Medicare inside their whole retirement income picture, not as a separate errand. Our page on retirement planning in The Woodlands explains how we approach that picture, and our RMD guide covers another income piece that arrives later.
If you recently lost a spouse, this season can feel heavy. Coverage decisions that your spouse used to handle may now be yours. It is okay to ask for help. Our widow and widower first 90 days checklist may help you sort what comes first. Write the list, call Medicare or HICAP, and give yourself time.
Stewardship is not about getting everything perfect. It is about paying attention to what has been entrusted to you. An hour with your list and the Plan Finder each fall is a faithful habit.
If you want to see how Medicare costs fit into your overall retirement income, start with the Free Retirement Paycheck Readiness Scorecard. You can also request a Retirement Clarity Call or call our office at 620-670-9455.
I'm Will Snodgrass, a CFP® professional and fiduciary asset manager with Matt25 Capital, serving Christian households in The Woodlands, Houston, and across Texas.
The opinions voiced in this material are for general information and educational purposes only and are not intended to provide specific advice or recommendations for any individual. Nothing in this blog constitutes investment, legal, or tax advice. Please consult with a qualified professional before making any financial decisions. Past performance is not indicative of future results. All investing involves risk, including the potential loss of principal. Any hypothetical examples used are for illustrative purposes only and do not represent actual client results. Confirm current IRS, Social Security Administration, and plan rules for your situation. Securities and advisory services offered through Commonwealth Financial Network®, Member FINRA/SIPC, a Registered Investment Adviser. Fixed insurance products and services are separate from and not offered through Commonwealth Financial Network®. Certified Financial Planner Board of Standards Inc. (CFP Board) owns the CFP® certification mark, the CERTIFIED FINANCIAL PLANNER™ certification mark, and the CFP® (with plaque design) logo in the United States, which it authorizes use of by individuals who successfully complete CFP Board's initial and ongoing certification requirements. Matt25 Capital is a separate entity from Commonwealth Financial Network®.