Medicare Open Enrollment is Now
October 15 to December 7 is Medicare’s 2026 open enrollment period. This is a chance to re-evaluate your Medicare insurance which typically consists of Part A, Part B, a Medigap or Medicare Advantage Plan (Part C) and a Part D drug plan.
Medicare Part A is hospital coverage insurance. If you or a spouse have worked 10 years or more, you are not charged a premium for Part A.
Medicare Part B* covers non-hospital (medical) services. Social Security recipients will see this as a monthly deduction from their benefits. Monthly premiums for 2025 are $185*, with an annual deductible of $257. The patient is responsible for a co-insurance of 20% on covered services. These deductibles may be adjusted for 2026.
Choices for Gap Premium Coverages: Gap coverages pay the 20% Part B deductible for covered medical services and drug costs, depending on the plan.
Medicare Part C: This is an option referred to as a “Medicare Advantage Plan.” These plans work similarly to an HMO or PPO plan with varying deductibles and are less expensive than Original Medicare with Medigap coverage. They sometimes provide additional benefits such as drug, vision, dental and hearing coverage, all wrapped into one plan.
Medigap* Coverage: This is a second option (in place of Medicare Part C) and only works with original Medicare. Medigap policies are standardized, and in most states are named by plan letters A-N. Compare the benefits each plan pays for and choose a plan that covers what you need. Premiums in Florida will vary by county. These do not provide drug, vision, dental or hearing coverage. Unlike Medicare Part C you are not restricted to plan participants and can see any healthcare provider who takes Medicare.
Medicare Part D*: Part D drug plans help cover your drug costs for those who have Original Medicare with a Medigap Plan (not Plan C Medicare Advantage plans). Signing up for Part D when you sign up for Medicare will save you a late penalty charge of approximately 12%.
If you don’t want to change your insurance, then simply do nothing during open enrollment and your insurance will remain the same. However, if you wish to explore other options, go to the Medicare website for further information.
Check out the Medical Center’s Medicare Resources page for tools that can help you navigate coverage and plan offerings.
*For 2025, Medicare will assess an Income-Related Monthly Adjustment (IRMA) for Modified Adjusted Gross Incomes (MAGI) over $212,000 for couples and $106,000 for individuals.