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Medicare Open Enrollment Begins October 15: What You Need to Know For 2026 Thumbnail

Medicare Open Enrollment Begins October 15: What You Need to Know For 2026

Every year, from October 15 through December 7, current Medicare beneficiaries get a chance to review and revise their coverage for the coming year. Whether you've started new medications, found gaps in your current plan, or just want better benefits, this period gives you that opportunity.

How to Evaluate Your Medicare Options

It doesn’t need to be overwhelming. You’ll receive an Annual Notice of Change (ANOC) or similar document from Medicare or your insurer detailing any changes in benefits, drug formularies, provider networks, or costs. Reviewing this carefully can help you identify whether your current plan still matches your needs.

You can also use tools like:

Even if your coverage has stayed the same, changes in your health, medications, or finances often make it worth reviewing. New plan options may offer better coverage or lower costs.

Who Can Make Changes (And When)

  • Only individuals already enrolled in Medicare can use the Open Enrollment Period (Oct 15 – Dec 7) to switch their Medicare Advantage plan, or switch in or out of Part D drug plans or Medigap as applicable.
  • If you are not yet on Medicare and are nearing eligibility (e.g. turning 65), your initial enrollment window is separate and occurs around your birthday month. Missing that window may mean you have to wait for the General Enrollment Period (Jan 1 – March 31).

What You Can Change During This Period

Some of the coverage actions you can take during Open Enrollment include:

  • Switching between Medicare Advantage and Original Medicare plans
  • Joining, dropping, or switching Medicare Part D (prescription drug) plans
  • Reviewing and possibly adjusting supplemental coverage (Medigap) or adding it if needed
  • Checking changes to provider networks, premiums, or benefit structure

What’s New / What’s Changing for 2026

As you consider your options this year, here are some important recent or upcoming changes:

  • The Part D out-of-pocket cap for prescription drug costs will increase from $2,000 in 2025 to $2,100 in 2026.
  • Deductibles for Part D are also rising (e.g., $590 → $615 projected) in many plans.
  • There will be adjustments to premiums in Part B and Part A for 2026, including changes to income-related surcharges (IRMAA) for high-income beneficiaries.
  • Medicare Advantage plans may see changes in benefit design, supplemental benefits, or cost sharing. Always check the ANOC to see what changes your specific plan is making.

What To Do Before the Deadline

To make the most of open enrollment:

  1. Read your ANOC and any other notices from your insurer.
  2. Identify what changed: premiums, co-pays, covered medications, provider networks.
  3. Compare alternatives using Plan Finder or with help from a SHIP or trusted advisor.
  4. Match your plan to your projected needs (medications, doctors, hospital visits) for the next year.
  5. Don’t wait until the last minute — some plans fill up, or paperwork delays can occur.

Why This Matters

Medicare costs and options aren’t static. What was once a good choice for your health, budget, or coverage may no longer serve you well. With rising premiums, changing drug-formulary rules, and evolving benefits, staying informed ensures you aren't paying more than necessary or going without needed services. Reviewing your options annually helps protect you from surprises. We are happy to review your options with you.