2027 Health Insurance Open Enrollment: 8 Things Americans Should Compare

Choosing health insurance is one of the most important financial decisions many American households make each year. The 2027 HealthCare.gov Open Enrollment Period began on November 1, 2026, giving eligible consumers an opportunity to review coverage and select a plan for the coming year.

It can be tempting to choose the plan with the lowest monthly premium. However, the cheapest premium does not necessarily mean the lowest overall healthcare cost.

1. Compare Monthly Premiums

Your premium is the amount you pay to maintain insurance coverage, regardless of whether you visit a doctor during that month.

Compare the full monthly cost after any eligible financial assistance. Do not assume that last year's premium or subsidy will remain unchanged.

2. Understand the Deductible

The deductible is the amount you generally pay for covered services before your plan begins sharing certain costs. A low-premium plan may have a much higher deductible.

Think about how frequently your household uses medical services and whether you could comfortably manage the deductible if an unexpected expense occurs.

3. Check the Out-of-Pocket Maximum

The out-of-pocket maximum limits how much you pay for covered in-network essential health benefits during the plan year, subject to the plan's rules.

This figure can be especially important for families managing ongoing medical expenses. Remember that premiums and certain non-covered costs generally do not count toward this limit.

4. Confirm Your Doctors and Hospitals

Provider networks can change from one year to another. Check whether your preferred doctors, hospitals and specialists are included in the new plan.

If you have an established healthcare relationship, losing access to a familiar provider may be more disruptive than a small difference in monthly premiums.

5. Review Prescription Drug Coverage

Look at the plan's drug formulary and check how your regular prescriptions are covered. Pay attention to generic alternatives, tiers, copayments and any prior authorisation requirements.

6. Check Whether Your Preferred Services Are Covered

Compare coverage for specialist visits, mental health services, preventive care, diagnostic tests and other services your household may need.

Read the plan documents rather than relying only on a short marketing summary.

7. Estimate Your Total Annual Cost

Do not compare plans using premiums alone. A useful estimate includes annual premiums, likely copayments, prescription expenses and possible deductible payments.

Consider both a routine-use scenario and an unexpected medical-event scenario. This gives you a better understanding of the financial risk associated with each option.

8. Check the Enrollment Deadline

For HealthCare.gov coverage, the 2027 Open Enrollment Period runs from November 1, 2026, through January 15, 2027. Enrolling by December 15 generally allows coverage to begin on January 1, 2027. Later enrollment during the open period generally starts coverage on February 1.

Make a Decision Based on the Whole Picture

Health insurance should protect both your health and your household finances. A plan with a slightly higher premium may provide better value if it offers the doctors, medicines and coverage your family needs.

Review your household's expected healthcare requirements, compare official plan details and check whether you qualify for financial assistance before making a decision.

Important: Enrollment rules and plan availability can vary by state and circumstances. Verify your dates and eligibility through the official Marketplace before submitting an application.