Open Enrollment 2027: What to Know Before You Automatically Renew Your Health Plan
OPEN ENROLLMENT · 5 MIN READ
Open Enrollment has a way of making health insurance feel like an annual administrative task: log in, see what changed, renew the plan and move on.
For 2027, it may be worth slowing down.
The individual health insurance market has gone through meaningful changes over the past two years. Marketplace insurers have proposed a median premium increase of approximately 15% for 2027, following a median finalized increase of 20% for 2026. Insurers have cited rising healthcare costs, prescription drug spending, inflation and changes in the individual-market risk pool among the factors affecting rates. KFF
That doesn't mean your premium will increase by 15%. Rates vary considerably by state, carrier, age, location and plan. It does mean that automatically renewing without reviewing your coverage could be an expensive assumption.
Your premium isn't the only thing that can change
Most people notice the monthly premium first.
That's understandable. It's the bill you see every month.
But your health insurance is ultimately a combination of several moving parts. A plan that still has an attractive premium could become less attractive if its deductible increases, your preferred hospital leaves the network or a medication moves to a different formulary tier.
Before renewing, look at the entire plan not just the price.
1. Compare your new monthly premium
Start with the obvious question:
What will this plan actually cost me in 2027?
If you receive Marketplace financial assistance, don't assume your subsidy or net premium will remain the same.
The enhanced premium tax credits that had expanded Marketplace assistance expired after 2025, and the effects were already visible during 2026. KFF found that Marketplace deductibles also increased substantially in 2026 as enrollment patterns shifted. KFF
Your household income and circumstances also matter when determining Marketplace savings.
2. Look at the deductible
A $500 change in monthly premium is easy to notice.
A $2,000 change in deductible can be easier to miss.
Ask yourself how much you would potentially have to spend before certain benefits begin paying and, just as importantly, which services are subject to the deductible.
Two plans with the same deductible can behave very differently depending on how office visits, prescriptions, diagnostic testing and other services are structured.
3. Check your out-of-pocket maximum
Think of this as part of your financial-risk calculation.
Your deductible tells you when certain coverage begins sharing costs. Your out-of-pocket maximum generally tells you the most you would pay during the plan year for covered in-network services subject to that limit.
If you're comparing plans, don't ask only:
“Which one costs less every month?”
Also ask:
“What could each one cost me during a bad medical year?”
That's often the more important number.
4. Verify your doctors and hospitals again
Never assume that because your physician was in-network this year, they'll automatically be in-network next year.
Provider contracts and plan networks can change.
Before enrolling, check the specific network attached to the specific plan not merely the insurance company's name.
If access to a particular physician, specialist, children's hospital or health system matters to you, verify it before enrollment.
5. Review your prescriptions
Formularies can change, too.
If you regularly take medication, check whether it remains covered, which tier it falls under and whether the plan has requirements such as prior authorization or step therapy.
The cheapest premium can quickly become irrelevant if the plan doesn't work well with the healthcare you actually use.
6. Compare the markets available to you
This is the part many consumers skip.
The ACA Marketplace is an important source of comprehensive, guaranteed-issue major medical coverage, particularly for people who qualify for financial assistance or need coverage regardless of medical history.
But it isn't necessarily the only coverage option available to every consumer.
Depending on your state, health history, household circumstances and coverage needs, you may also encounter employer coverage, COBRA, off-Marketplace ACA plans, medically underwritten private products, short-term coverage or other insurance arrangements.
These products are not interchangeable, and benefits and consumer protections can differ significantly.
That's why the goal shouldn't be to automatically choose one market over another.
The goal is to understand what you're buying.
Your 2027 renewal checklist
Before enrolling or renewing, review:
Monthly premium after any applicable financial assistance
Deductible and what services are subject to it
Copays and coinsurance
Out-of-pocket maximum
Physician and hospital network
Prescription coverage
Expected healthcare needs for 2027
Other coverage options available to your household
Don't renew on autopilot.
Your health insurance should reflect where you are going into 2027and not simply what worked when you enrolled last year.
Schedule a complimentary coverage review with Elite Health Preserve. We'll review your current coverage, healthcare priorities and available options so you can make an informed decision before enrolling.
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