Your Medicare Plan May Change in 2026: Here’s How to Protect Your Benefits

The Medicare Open Enrollment Period is happening from October 15 to December 7, 2025 and this year, there are big changes that could affect your health coverage and costs in 2026.

New Drug Cost Cap Brings Relief

• Under the Inflation Reduction Act, the Part D out-of-pocket cap will increase from $2,000 to $2,100.

• Once you spend $2,100 on covered medications, you won’t pay anything more for the rest of the year.

• This helps make prescription costs more predictable and affordable for seniors managing long-term health needs.
   

Plan Options Are Shrinking

• Insurers are cutting back on Medicare Advantage (Part C) and stand-alone Part D plans in several areas.

• Fewer options mean it’s more important than ever to review your current plan and shop around before the deadline.

• Don’t assume last year’s plan will still be your best option in 2026.
   

Expect Higher Premiums and Deductibles

• Part B premium will increase from $185 to about $206.50/month — an 11.6% jump.

• Part B deductible will rise by around 12%.

• Part D deductible will grow to $615 (up from $590).

• Even staying with the same plan may cost you more next year.
   

What You Should Do Now

• Read your Annual Notice of Change (ANOC) to understand how your plan will change.

• Compare other plans to make sure you’re not overpaying.

• Factor in both premium increases and drug coverage caps to get the best value.

• Make any plan changes before December 7 to lock in new coverage for 2026.

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