Medicare enrollment started Oct. 15 and runs through Dec. 7.
The past couple years have been volatile for the Medicare industry according to Michael Kowal, the co-founder of My Medicare Network, a local Medicare insurance agency. He said while this year has been a bit more stable, there are still a couple carriers that have made significant changes to their plans for 2027.
“It’s carrier specific,” he said. “Some carriers last year kind of ripped the Band-Aid off and made some pretty drastic changes (and) are pretty stable for this year. The ones that kicked that can down the road ... this year they're trying to make those changes to catch up to everybody else because they're realizing from a profitability perspective, they're taking on more water than they probably should.”
Kowal said plans overall are increasing their out-of-pocket maximums while decreasing ancillary benefits, a trend that’s seen nationwide.
Medicare recipients should also be aware that some carriers have dropped out of local markets. Kowal said rural areas have been hardest hit.
“A lot of the carriers are pulling out of the more rural markets because it's more costly for them to do business in those markets,” he said. “There’s smaller networks out there, which makes the contract negotiations more difficult ... or less profitable for the carriers.”
Wellcare has dropped its Medicare Advantage plans across all of Ohio.
Kowal recommended keeping an eye out for annual notice of change letters and working with an insurance agent.
“It really is so confusing,” he said. “The rules change every year.”
But his strongest bit of advice is to not procrastinate.
“In prior years, the best plans do shut off enrollment early, so do not wait,” Kowal said.
He said some of the most competitive plans stop accepting new enrollments right around Halloween.
