Medicare Open Enrollment 2026: New Rules and Higher Costs You Need to Know

The Medicare Open Enrollment period runs from October 15 to December 7, 2025, and millions of Americans will need to make important coverage decisions before the new year.

In 2026, there will be higher costs, fewer plan choices, and policy updates that could impact your healthcare and your wallet.

You might be missing out on benefits! Check what’s available to you here.

Drug Cost Relief: New Cap in 2026

The Inflation Reduction Act will raise the out-of-pocket cap for Medicare Part D to $2,100 in 2026.

Once beneficiaries hit that limit, they won’t pay any more for covered prescriptions for the rest of the year.

This change will help seniors better manage drug expenses, especially those with ongoing health conditions.

Plan Options Shrinking

Insurance companies are cutting back the number of available Medicare Advantage (Part C) and Part D plans in several states.

With fewer options, it’s essential to review your current coverage early to make sure it still meets your needs for the coming year.

Premiums and Deductibles Going Up

Here are the updated costs for 2026:

• Part B premium: $206.50/month (up from $185)

• Part B deductible: increasing by around 12%

• Part D deductible: $615 (up from $590)

Even if you don’t change plans, expect your monthly expenses to increase.

Steps to Take Before December 7

• Review your Annual Notice of Change (ANOC) carefully.

• Compare your plan with others to find better value or lower costs.

• Take advantage of the new out-of-pocket cap to manage drug costs.

• Make plan changes before the deadline to avoid higher bills in 2026.

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