Medicare Annual Enrollment is Approaching

Medicare Open Enrollment

Medicare season is coming this year. From October 15th to December 7th each year, this is our annual chance to review your coverage, discuss plan changes and new options, and ensure our clients are in the plan that best suits their needs and budget.

What’s Changing With Medicare For 2026?

While some information is still yet to be announced, we know of several changes already for 2026. These include:

1. Medicare Part B premiums are likely to increase. Most people currently pay $185/mo, and this is forecast to increase to $206.50/mo.

2. Medicare Advantage and Part D Drug plan prices are forecast to decrease. According CMS (The Centers for Medicare and Medicaid Services) average MAPD plan premiums are forecast to decrease from $16.40 per month, to $14 per month.

3. Average Part D drug plan premiums are forecast to decrease from $13.32 in 2025 to $11.50 in 2026

4. Formularies, deductibles, and cost sharing are likely to change with your drug plan. It important to review your annual notice of changes to ensure your plan will still work best for you.

5. Part D Drug out-of-pocket costs will be capped at $2,100 for all covered prescriptions. Note this cap does not apply to prescriptions that are not covered on your plan’s formulary.

   What Do I Need To Do?

   We advise Medicare beneficiaries to review their annual notice of changes for what will be different about their health insurance plan for 2026. We encourage you to ensure all your doctors and prescriptions will continue to be covered. And we encourage clients to make an appointment or review call with their independent insurance agent for help with any questions, changes, or new plan options.

   Happy fall to everyone!