As the Medicare open enrollment period approaches (Oct. 15 to Dec. 7), millions of Americans will review their coverage and make important decisions about their health care.
This year, there’s an added urgency: significant changes are coming in 2026, and the choices you make now can set you up for success down the road.
Whether you’re new to Medicare or a long-time enrollee, understanding what’s changing and how to make the most of your options is more important than ever.
What’s changing for 2026?
While many Medicare aspects remain consistent year to year, 2026 will bring some notable changes -- both routine and more impactful.
Starting with the basics: According to Mike Gatteri of Healthmarkets Insurance Agency, Medicare Part B premiums increase annually, and this year is no exception.
“This year, the premium will go from $185 a month to $206 a month,” he said.
Deductibles are also rising -- from $257 to $288. While these annual adjustments are typical, this year’s increases are larger than many beneficiaries have seen before.
The impact of recent legislation
Beyond these routine changes, broader policy shifts are reshaping Medicare’s financial landscape. Following COVID-era relief efforts and the Inflation Reduction Act, the federal government is adjusting how it shares Medicare’s costs.
Some temporary pandemic-era measures that helped keep costs down are ending. Meanwhile, the Inflation Reduction Act introduces new strategies aimed at lowering long-term drug prices and reducing government spending.
The result?
“The government is taking on less of the cost of Medicare and putting more of the cost on insurance companies,” Gatteri said.
When insurers absorb more costs, they often pass them on to consumers through higher premiums or reduced benefits.
Medicare Advantage plans will feel the pinch
Medicare Advantage plans, popular for their extra perks like dental, vision, gym memberships and grocery allowances, will likely see many of these benefits scaled back in 2026.
As insurers adjust to new rules, expect fewer “extras.” This doesn’t mean Medicare Advantage won’t remain a good option for some, but the generous add-ons many have come to expect might no longer be guaranteed.
Gatteri also noted that Medicare supplement plans could see increases of 25-30%.
What you should do now
With rising costs and shifting benefits, it’s crucial to carefully compare your options during open enrollment. Your health care needs may have changed, and last year’s plan might not be the best fit for 2026.
Take the time to:
- Review changes to your current plan.
- Compare Original Medicare and Medicare Advantage options.
- Check which benefits are included -- and which are no longer offered.
- Consider total costs, including premiums, deductibles and out-of-pocket maximums.
Making a big decision like Medicare isn’t something you have to do on your own. Healthmarkets Insurance agents -- experts in Medicare plans -- offer free assistance to help you find the best plan for your lifestyle and needs.
“We look at their situation from top to bottom and find the plan that’s most appropriate given their situation,” Gatteri said. “We look up doctors, medications and ask how they’re using their plan now. Once we know all the ins and outs, we help mirror them with the most appropriate plan.”
The bottom line is that you shouldn’t assume sticking with your current plan is the easiest or cheapest choice. In this changing landscape, doing your homework and consulting with an agent could make a significant difference for your coverage -- and your wallet.
To learn more and connect with an agent, click or tap here. You can also call 734-252-0064.