If you have Medicare, the next few weeks matter for your wallet. Medicare open enrollment runs Thursday, Oct. 15, through Monday, Dec. 7. It's the one time each year when most people can change their health or drug coverage for next year.

Plans change every year: prices, covered drugs, and which doctors and pharmacies are included. A plan that worked well this year might cost you more in 2027. Here's what's changing and how to avoid the most common, and most expensive, mistakes.

The dates that matter

If you do nothing, you'll usually stay in the same plan for 2027, even if its costs or coverage changed.

What you can do during open enrollment

• Switch from one Medicare Advantage plan to another
• Switch from Original Medicare to a Medicare Advantage plan, or from Medicare Advantage back to Original Medicare
• Join, switch or drop a Part D prescription drug plan if you have Original Medicare

Already in a Medicare Advantage plan and change your mind after Jan. 1? There's a second chance from Jan. 1 to March 31 to switch to a different Medicare Advantage plan or go back to Original Medicare.

What's changing for 2027

1. The yearly cap on drug costs goes up. The most you'll pay out of pocket for covered Part D drugs in 2027 is $2,400, up from $2,100 in 2026. Once you hit the cap, you pay nothing more for covered drugs for the rest of the year.

2. Drug plan deductibles can be higher. The most a Part D plan can charge for its deductible in 2027 is $700, up from $615 in 2026. Many plans charge less, so compare.

3. Lower prices on 15 more drugs. Starting Jan. 1, 2027, Medicare's negotiated prices take effect for 15 more medications, adding to the 10 drugs whose prices were negotiated for 2026. The 2027 list includes:

• Ozempic, Rybelsus and Wegovy (diabetes and other conditions)
• Trelegy Ellipta and Breo Ellipta (COPD and asthma)
• Janumet and Tradjenta (diabetes)
• Xtandi, Ibrance, Calquence and Pomalyst (cancer)
• Linzess (digestive conditions) and Xifaxan (liver and digestive conditions)
• Ofev (lung disease), Otezla (psoriasis and arthritis), Vraylar (mental health) and Austedo (movement disorders)

If you take any of these, check how your plan covers them for 2027. What you actually pay still depends on your plan.

4. Part B costs for 2027 haven't been announced yet. In 2026, the standard Part B premium is $202.90 a month, with a $283 deductible. Medicare usually announces the next year's amounts in the fall.

7 costly mistakes to avoid

1. Not reading your "Annual Notice of Change." Your plan mailed this letter by the end of September. It lists exactly what's changing for 2027: costs, covered drugs and networks. If you didn't read it, find it or ask your plan for a copy.

2. Assuming your plan is the same. Plans change prices, drop drugs and change their networks every year. Check before Dec. 7.

3. Looking only at the monthly premium. A $0-premium plan can cost more in the end if your drugs or doctor visits cost more. Compare total yearly costs, including deductibles and copays for the drugs you actually take.

4. Not checking your doctors and pharmacy. Medicare Advantage plans use networks. Make sure your doctors, hospital and pharmacy are in the plan for 2027. In Columbus, that means checking whether your Piedmont or St. Francis-Emory doctors are covered.

5. Leaving a Medigap policy without thinking it through. If you drop a Medicare Supplement (Medigap) policy to join a Medicare Advantage plan, getting it back later may not be easy. In most cases, insurers can charge you more or turn you down if you apply outside your first enrollment window. Get advice before you switch.

6. Missing the Dec. 7 deadline. After Dec. 7, most people are locked into their 2027 coverage, apart from the Jan. 1-March 31 window for Medicare Advantage members. Don't wait for the last week, when phone lines are busiest.

7. Falling for Medicare scams. Open enrollment is prime time for scammers. Medicare won't call you to sell you a plan or ask for your Medicare number. Never give your Medicare, Social Security or bank information to an unexpected caller, texter or door-to-door salesperson. Hang up and call 1-800-MEDICARE yourself.

Ways to save

• Extra Help: If you have limited income and savings, the federal Extra Help program can lower your drug costs. Apply through Social Security at ssa.gov or 1-800-772-1213.
• Spread out drug costs: You can ask your drug plan to spread your out-of-pocket costs into monthly payments over the year, instead of paying large amounts at the pharmacy. This is called the Medicare Prescription Payment Plan.
• Compare plans for free: Use the official Medicare Plan Finder at medicare.gov/plan-compare. Enter your drugs and pharmacy to see estimated yearly costs for every plan in your area.

Free help in Georgia

You don't have to figure this out alone, and you don't have to pay anyone.

• Georgia SHIP (State Health Insurance Assistance Program): free, unbiased, one-on-one Medicare counseling from trained counselors who don't sell insurance. Call 1-866-552-4464 (option 4) or visit aging.georgia.gov/georgia-ship.
• 1-800-MEDICARE (1-800-633-4227): open 24 hours a day, 7 days a week. TTY: 1-877-486-2048.

Before you call or compare plans, gather: your Medicare card, a list of every medication you take (name, dose and how often), your doctors' names, and your preferred pharmacy.