Medicare’s Open Enrollment Brings Fewer Plans, Higher Costs, and Vanishing Benefits for 2026
Your golden years just got a little less comfortable — and potentially more expensive. Medicare open enrollment now comes with unwelcome news for seniors, as major insurers are cutting back on plans, removing popular benefits, and increasing out-of-pocket cost limits for the second consecutive year. At least 1.2M Medicare Advantage enrollees will lose their current plans entirely as insurers phase out unprofitable offerings.
- Maximum out-of-pocket costs are rising across large insurers like UnitedHealthcareUNH and Elevance HealthELV — though HumanaHUM is lowering its caps.
- Perks like grocery stipends and fitness trackers are disappearing as margins tighten, while lower broker commissions mean reduced incentives to recommend better-value plans.
Your survival strategy: Run your medications through Medicare.gov’s plan comparison tool —input all of your meds in every form, including generics, and call your doctors to see if they’re still in-network. Then use the Plan Finder to compare every available option (including “commission-free” ones brokers might skip), or contact your State Health Insurance Assistance Program for unbiased help. Lastly, read your Annual Notice of Change and Summary of Benefits carefully for hidden hikes. Because this Medicare season, the best coverage may come from doing your homework.