Your Medicare 2026 Open Enrollment Guide: How to Avoid Paying More Next Year

• Author: Leo Olson
• Posted: 2025-10-19

The Medicare Open Enrollment season is here again. From October 15 to December 7, 2025, millions of Americans will have the chance to review, change, or renew their Medicare plans for the new year.

But for 2026, there’s a catch: higher costs, fewer plan choices, and important policy updates that could directly affect your coverage starting January 1, 2026.

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

Prescription Drug Costs: A Cap to Help Seniors

Thanks to the Inflation Reduction Act, out-of-pocket costs for Medicare Part D will be capped at $2,100 in 2026, up slightly from $2,000 in 2025.

Once beneficiaries reach that limit, they won’t pay anything more for covered medications for the rest of the year.

This is a major win for seniors with chronic conditions or those who rely on multiple prescriptions each month, giving them more predictable and manageable drug costs.

Fewer Plans, Tougher Choices

Some insurers are cutting back on Medicare Advantage (Part C) and stand-alone Part D offerings.

That means fewer plan options in certain regions, making it more important than ever to review and compare coverage early in the enrollment period.

Tip: Don’t wait until the last week, check your options as soon as Open Enrollment begins.

Premiums and Deductibles Are Rising

Medicare costs are going up in 2026. Here’s what to expect:

• Part B premium: from $185 → $206.50/month (↑ 11.6%)

• Part B deductible: ↑ roughly 12%

• Part D deductible: from $590 → $615

Even if you don’t switch plans, you may see a higher monthly bill next year.

What You Should Do Now

• Review your Annual Notice of Change (ANOC) to understand how your current plan is changing.

• Compare plans in your area for better coverage or lower costs.

• Use the new out-of-pocket cap to your advantage if you take expensive prescriptions.

• Switch plans if necessary before December 7 to avoid paying more in 2026.