Thoughts on Medicare Open Enrollment
Key Takeaways
- Annual updates can impact your coverage: Every year, Medicare Advantage and Prescription Drug Plans change—your doctor, pharmacy, or prescriptions may no longer be covered
- Review your Annual Notice of Change (ANOC): Reviewing your Annual Notice of Change (ANOC) and comparing plans on Medicare.gov can ensure you’re getting the best coverage for your needs and budget.
- You have options. Open Enrollment (Oct. 15–Dec. 7) lets you compare Medicare Advantage, Supplement, and Prescription Drug Plans to find better value.
- Help is available: ACM Wealth offers clients complimentary access to a partner service that helps review and shop for Medicare and health insurance plans efficiently.
Medicare Open Enrollment 2026: What’s Changing and What You Should Do About It
Annual Health Insurance Changes You Shouldn’t Ignore
Whether we like it or not, when it comes to health insurance, change happens every year. Modifications are typically made by the health insurance companies that sell prescription drug (PDP) and Medicare Advantage (MA) plans, but annual changes also impact the health insurance plans people have prior to age 65.
There has been a lot of attention in the media recently being paid, for example, to subsidies expiring and resulting monthly premium increases for 2026 on individual Affordable Care Act health insurance plans.
Cutting Through the Noise During Open Enrollment
It’s up to you to determine if these annual changes will affect you and try to cut through the noise this time of year. During Medicare Open Enrollment (October 15 to December 7), the TV ads and robocalls and advice from friends and family may or may not be credible and may or may not apply at all to your particular situation.
You especially need to know that your Medicare health insurance has you covered with the right doctors, medical facilities, and prescriptions. You may be paying for coverage you don’t need, for example, or your health situation may now require the attention of medical specialists who are currently out of your network.
The good news is that, if you’re not satisfied with your current plan or your health or financial situation changed, then you can consider your options and you should.
How to Review Your Current Medicare Coverage
The first step is to figure out if your health insurance company made any changes to your plan. For those with a MA plan or a PDP, the chances are high that something is changing and your plan is required by law to mail you an Annual Notice of Change (ANOC), which you should have received in September, to inform you of the changes that will take place with your coverage for the upcoming year.
Your network of doctors and medical facilities may be expanding or shrinking. Your MA plan could disappear entirely or the facilities that you use may not accept your plan anymore. And most likely, you’ll see changes to your prescription drug coverage as we mentioned here a few weeks ago.
Medicare Options to Consider During Open Enrollment
During Medicare Open Enrollment (October 15–December 7), review your plan type and consider options that better fit your health, budget, and network needs. This comparison highlights common changes and opportunities for 2026 coverage.
Remember, if you already have Medicare coverage and do nothing during the AEP, then your current coverage will auto-renew January 1 of the upcoming year. And your decision is completely separate from that of your spouse.
Also keep in mind that switching to Medicare Supplement coverage may require medical underwriting (although you can enroll in a Medicare Supplement plan without medical underwriting if it’s the first time you enroll in Medicare or if you’re eligible under a specific situation or guaranteed issue right).
Tools and Resources to Simplify Your Decision
You can continue to shop for the lowest cost MA and PDP plans using the Plan Finder tool available when you log into the Medicare.gov website.
As we mentioned last month, ACM Wealth has partnered with a third-party to offer a new service at no additional cost to help our clients shop for their Part D prescription drug plan as well as other Medicare plans (Medicare Supplement or Medicare Advantage) and health insurance plans for those younger than 65 years old. If you are interested, then contact your ACM Wealth Advisor for more information.
Lastly, if you haven’t received the “Medicare & You 2026” handbook in the mail, then you can find it online here. This 100-plus-page resource shares important updates for 2026 plans, as well as detailed information about various types of plans and individuals’ rights and protections within the program.
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