Are you wondering if you should keep your current Medicare plan or switch to one that better fits your needs? The Annual Enrollment Period (AEP) is when those choices happen, and for coverage effective in 2026, the window runs from October 15 through December 7, 2025. With costs shifting, insurers adjusting their offerings, and new federal rules coming into play, this year’s AEP could bring significant changes.
What is Medicare AEP?
- AEP stands for the Annual Enrollment Period (sometimes called Annual Election Period or Medicare Open Enrollment).
- During AEP, individuals who already have Medicare can make changes to their Medicare Advantage (MA) plans or Medicare Part D (prescription drug) plans.
- The AEP window for 2026 coverage is October 15 through December 7, 2025.
- Any plan changes made during this period will take effect January 1, 2026.
There are also other special or limited enrollment periods, but AEP is the major annual window when most changes are allowed.
Key Changes & Updates in 2026
Prescription Drug (Part D) Changes
- Out-of-pocket limit rises to $2,100 in 2026 (up from $2,000 in 2025).
- The maximum deductible increases to $615 (from $590).
- The Medicare Prescription Payment Plan (MPPP) will automatically renew unless you opt out.
- Insulin cost protections will continue.
Medicare Advantage & Plan Availability
- CMS expects stable premiums and plan choices, with only a slight decline in overall plan count.
- Average MA premiums are projected to drop to $14.00 from $16.40 in 2025.
- Some insurers (Aetna, UnitedHealthcare, Elevance, etc.) may scale back offerings.
- New standardized enrollment form will be required starting January 1, 2026.
Cost & Coverage Shifts
- Medicare Part B premiums and deductibles are projected to rise (premium could reach ~$206.50; deductible around $288).
- IRMAA surcharges for higher-income beneficiaries may increase.
- Supplemental benefits like dental, vision, and hearing may shift depending on the plan.
What You Can Do During AEP 2025 for 2026
- Review your Annual Notice of Change (ANOC) to see if your current plan is still a good fit.
- Compare available plans in your area using Medicare.gov or your SHIP office.
- Check your prescription drug coverage carefully — drug lists and tiers can change.
- Evaluate overall out-of-pocket costs, not just premiums.
- Make changes if needed: switch between Original Medicare and Medicare Advantage, adjust Part D, or change within MA plans.
- Act early rather than waiting until December.
- Look out for plan discontinuations in case your insurer is exiting.
- Consider MPPP enrollment to spread drug costs.
- Check Extra Help / Low-Income Subsidy eligibility if your income is limited.
Challenges & Trends to Watch
- Increased regulatory oversight and tighter rules for insurers.
- Beneficiaries more actively comparing plans and using digital tools.
- Possible reduction in plan choices in certain regions due to insurer exits.
- Rising healthcare costs and inflation could pressure benefit offerings.
- Stronger CMS focus on equity, utilization management, and consumer protections.
Summary & Tips
Medicare AEP 2026 is your opportunity to adjust coverage for the coming year. The most important dates are October 15 – December 7, 2025, with changes effective January 1, 2026.
Tips to Remember
- Always compare plans, even if you’re satisfied with your current one.
- Pay close attention to prescription drug coverage.
- Don’t wait until the last week of enrollment.
- Use available free resources like SHIP for one-on-one help.
Medicare is one of the most important benefits you’ll rely on in retirement, and the choices you make during AEP can shape both your health care access and your budget for the year ahead. By reviewing your plan carefully, comparing alternatives, and acting early, you can enter 2026 with peace of mind knowing your coverage works for you. Whether you’re new to Medicare or a seasoned enrollee, the Annual Enrollment Period is your best chance to align your health coverage with your lifestyle, priorities, and financial goals.