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Medicare Open Enrollment 2027: A Guide for NJ & PA Retirees

Edward Goldstein, CFP |
Categories
Social Security and Medicare

Medicare Open Enrollment begins October 15 and runs through December 7, 2026. During this period, beneficiaries can review and change Medicare Advantage and Part D prescription-drug coverage for 2027, with most changes taking effect on January 1, 2027.

This year, beneficiaries should review their coverage carefully rather than automatically renewing. Plan premiums, provider networks, prescription formularies, deductibles, copays, pharmacy participation, and supplemental benefits can all change from one year to the next.

2027 Medicare Costs: What Has and Has Not Been Released

As of October 15, 2026—the first day of Medicare Open Enrollment—CMS has not released final 2027 Original Medicare premiums, deductibles, or IRMAA brackets and surcharges. Social Security says each enrollee’s 2027 Medicare premium information will be available through the my Social Security Message Center in late November, with mailed COLA notices following in December.

 

Practical Guidance

Open Enrollment should not be delayed while waiting for final Part B and IRMAA figures. Beneficiaries can still compare their plan’s Annual Notice of Change, prescriptions, providers, network access, total out-of-pocket exposure, and pharmacy options now; then update their retirement-income and tax projections once CMS issues the final premium and IRMAA announcement.

What is official now:

  • Medicare Open Enrollment runs from October 15 through December 7, 2026.
  • Part D plans in 2027 cannot have a deductible above $700, although many plans may set a lower deductible or none at all. 
  • Medicare Plan Finder can be used now to compare available 2027 Medicare Advantage and Part D plans based on ZIP code, medications, and pharmacy preferences. 

What Is Still Pending Official Release:

  • Standard monthly Part B premium
  • Annual Part B deductible
  • Part A hospital deductible, coinsurance, and premium for those who buy Part A
  • Final 2027 Part B and Part D IRMAA income thresholds
  • Final 2027 Part B and Part D IRMAA surcharge amounts

IRMAA: Why Income Still Matters

IRMAA, or the Income-Related Monthly Adjustment Amount, is the additional amount higher-income Medicare beneficiaries may pay for Part B and Part D coverage. Medicare generally uses income from two years earlier to determine whether IRMAA applies, so 2027 surcharges will generally be based on 2025 modified adjusted gross income.

This is especially relevant for retirees who completed a large Roth conversion, realized major capital gains, sold a business or investment property, or took larger IRA withdrawals during 2025. If income later drops because of retirement, divorce, death of a spouse, or another qualifying life-changing event, Social Security may allow a reconsideration using Form SSA-44. 

What to Review During Open Enrollment

Before making a 2027 Medicare decision, beneficiaries should review more than just the monthly premium.

  • Prescription drugs: Confirm every medication is still covered, verify formulary tiers, and compare preferred pharmacies.
  • Doctors and hospitals: Make sure preferred physicians, specialists, and hospital systems remain in-network if using a Medicare Advantage plan.
  • Total cost: Compare premiums, deductibles, copays, coinsurance, and the plan's maximum out-of-pocket exposure.
  • Plan rules: Review prior authorization requirements, referral rules, and coverage restrictions.
  • Income planning: Consider whether 2025 income could trigger IRMAA and whether retirement distributions or Roth conversions should be coordinated with tax planning.

Why This Matters in New Jersey and Pennsylvania

For retirees in New Jersey and Pennsylvania, Medicare decisions often intersect with broader retirement-income and tax-planning issues. The right choice can depend on expected healthcare usage, travel needs, preferred provider access, and whether income strategies could trigger IRMAA.

Residents in both states also have access to free, unbiased Medicare counseling through state and county aging-service networks. These local resources can be especially valuable during Open Enrollment when plan details and local provider participation may shift.

Local Help in New Jersey and Pennsylvania

Free, unbiased Medicare help is available at the county level in both New Jersey and Pennsylvania. Additionally, check local libraries for free Medicare Open Enrollment Information Programs. Because Medicare Open Enrollment is one of the busiest times of year for counseling appointments and educational programs, beneficiaries should reach out early because appointment slots and event registrations may be limited.

New Jersey County Help

In New Jersey, each county has an Area Agency on Aging that also serves as the county's Aging & Disability Resource Connection, or ADRC. These county offices can help residents find Medicare counseling, benefits information, caregiver resources, and local senior services. 

Examples for South Jersey residents include:

  • Camden County SHIP: 856-456-1121.  
  • Burlington County ADRC: 609-265-5069. 
  • Mercer County ADRC: 609-989-6661; ADRC@mercercounty.org. 
  • Cumberland County Office on Aging & Disabled: 856-453-2220. 

Pennsylvania County Help

Pennsylvania residents can contact their local Area Agency on Aging for Medicare-related guidance and referral to PA MEDI, the state's free Medicare counseling program. Pennsylvania has 52 Area Agencies on Aging serving all 67 counties.

Frequently Asked Questions

Have 2027 Medicare premiums and IRMAA rates been released?

No. As of October 15, 2026, CMS has not released final 2027 Part A and Part B premiums, deductibles, or official IRMAA brackets and surcharges. Individual premium information is expected to appear in my Social Security in late November. 

Can beneficiaries still make Medicare decisions before those figures are released?

Yes. Beneficiaries can still compare Medicare Advantage and Part D plan options during Open Enrollment because those plan details are already available through Medicare Plan Finder and plan materials. 

What income is used for 2027 IRMAA?

For most beneficiaries, 2027 IRMAA will generally be based on 2025 modified adjusted gross income.

Where can people get free Medicare help?

New Jersey residents can contact NJ SHIP or their county ADRC, and Pennsylvania residents can contact PA MEDI or their local Area Agency on Aging. These programs provide free, unbiased Medicare counseling.

Free Consultation

Medicare decisions can affect retirement cash flow, tax planning, healthcare access, and possible IRMAA exposure. A careful review can help retirees coordinate Medicare choices with Roth conversions, retirement-account withdrawals, portfolio income, and broader retirement goals.

Schedule a free consultation to discuss Medicare planning, retirement-income strategies, and ways to fit healthcare decisions into a broader financial plan.

Edward C. Goldstein, CFP®, MBA, President
CERTIFIED FINANCIAL PLANNER ™ Practitioner 
Financial Life Planning, LLC
10,000 Lincoln Dr. East, Suite 201
Marlton, NJ  08053
Phone: 856-988-5480
Fax: 908-292-1040