Medicare Costs Are Falling: How to Claim Your 2026 Savings Now
Great news for anyone on Medicare! The Centers for Medicare & Medicaid Services (CMS) just announced that average monthly premiums for Medicare Advantage and Part D prescription drug plans are expected to decrease in 2026.
What does this mean for you? Let’s break it down in simple terms.
The Good News for Your Budget
- If you have a Medicare Advantage Plan, the average monthly premium is projected to drop from about $16.40 to $14.00.
- If you have a standalone Part D Prescription Drug Plan, the average premium is expected to fall from $38.31 to $34.50.
This is a welcome bit of relief, especially with the rising cost of everything else.
But Here’s the Most Important Part…
While seeing lower prices is fantastic, you should NOT just automatically renew your current plan during Open Enrollment (Oct 15 – Dec 7). Here’s why:
- Your Plan Changes: Your specific plan might be changing its list of covered drugs (formulary), its network of doctors, or its costs for 2026. The “average” going down doesn’t mean your plan got better.
- Your Health Changes: Maybe you were prescribed a new medication this year, or your favorite doctor left the network. Last year’s perfect plan might not be the right fit anymore.
Your 3-Step Action Plan for Open Enrollment
- Mark Your Calendar: Medicare Open Enrollment runs from October 15 to December 7, 2025. This is your one chance each year to make changes.
- Review Your “Annual Notice of Change” Letter: Your plan will send this to you in September. Read it carefully! It tells you exactly what’s changing in your plan for 2026.
- Compare Your Options: Use the official Medicare.gov Plan Finder tool to shop around. It’s been updated for 2026 to be even easier.
Feeling Overwhelmed? We Can Help.
You don’t have to figure this out alone. The team at Medicare.social is here to help you understand your options and find a plan that fits your health needs and your budget.
Call Us. Let us help you make 2026 your most confident Medicare year yet.
