Medicare’s Annual Enrollment Period (AEP) gives individuals the opportunity to review and make changes to their coverage for the upcoming year. The 2025 AEP begins October 15 and ends December 7, with all plan changes taking effect on January 1, 2026.
Take time each fall to review your coverage. Premiums, provider networks, and prescription costs can change annually – sometimes in ways that affect your healthcare budget or access to care. Medicare AEP: What You Need To Know is meant to be an educational tool to help answer questions you may have.
What Is Medicare’s Annual Enrollment Period (AEP)?
The Annual Enrollment Period applies to anyone enrolled in Medicare Parts A and B (Original Medicare), a Medicare Advantage Plan (Part C), or a Prescription Drug Plan (Part D).
During this time, beneficiaries can:
- Enroll in a Medicare Advantage Plan (Part C) if they currently have Original Medicare
- Switch from one Medicare Advantage Plan to another
- Drop a Medicare Advantage Plan and return to Original Medicare
- Join, change, or drop a Prescription Drug Plan (Part D)
Any changes made during AEP take effect on January 1, 2026.
Outside of AEP, changes are generally allowed only during a Special Enrollment Period (SEP) — which applies after certain qualifying life events, such as moving, losing other coverage, or qualifying for financial assistance through Extra Help.
Key Medicare Enrollment Dates
- October 1, 2025 – Plan details for 2026 became available. This allows beneficiaries to start comparing options before AEP officially begins.
- October 15 – December 7, 2025 – Medicare’s Annual Enrollment Period. This is the time to make plan changes for the upcoming year.
- January 1, 2026 – Any updates made during AEP take effect.
While the official deadline is December 7, Medicare experts recommend finalizing decisions by December 5 to ensure your application is submitted and processed without delay.
What’s New for Medicare in 2026
Each year, the Centers for Medicare & Medicaid Services (CMS) updates plan details and premium limits. A few notable items for the upcoming year include:
- Part B Premiums and Deductibles: CMS typically releases updated rates in late fall. For 2025, the standard Part B premium was $174.70 per month with a $240 deductible. Expect modest adjustments for 2026.
- Prescription Drug Costs (Part D): The Inflation Reduction Act continues to shape drug pricing. Beginning in 2026, a $2,000 annual cap on out-of-pocket prescription drug costs is expected to take effect — a major change for Medicare beneficiaries.
- Insulin and Vaccine Costs: The $35 monthly insulin cap and $0 cost for adult vaccines under Part D will remain in place.
- Telehealth Coverage: Several expanded telehealth provisions have been extended, continuing to make virtual healthcare services more accessible.
For official updates, visit Medicare.gov or contact your plan provider.
How to Review Your Coverage
Each fall, plan members receive an Annual Notice of Change (ANOC) or Evidence of Coverage (EOC). This document highlights:
- Updates to premiums, deductibles, or copays
- Changes to pharmacy or provider networks
- Adjustments to prescription drug formularies
- New coverage rules or benefits
Even if your plan seems similar, small annual adjustments can affect your overall costs or access to care. Reviewing and comparing plan options each year ensures your coverage still aligns with your health and financial needs.
The Medicare Plan Finder at Medicare.gov/plan-compare allows you to compare costs and coverage options available in your ZIP code.
Where to Find Help
Information on Medicare plans is available through several trusted sources:
- 1-800-MEDICARE (1-800-633-4227)
- State Health Insurance Assistance Programs (SHIP):
- Minnesota: Aging Pathways (formerly Senior LinkAge Line)
- Wisconsin: Wisconsin Medigap Helpline
- Licensed Insurance Agents: For those who prefer personalized guidance, licensed agents can help compare options and clarify differences between plans.
About Reliable Insurance Agency
Founded in Cloquet, Minnesota, Reliable Insurance Agency is a locally owned independent agency that believes in putting people first. We are guided by five Core Values — Empathy, Honesty, Involved, Humbly Passionate, and Synergy — and we focus on delivering professional insurance services with a hometown feel.
We are dedicated to helping individuals, families, and businesses make confident insurance decisions through genuine relationships and community involvement. Whether reviewing coverage, advocating during a claim, or supporting local organizations, Reliable’s goal is to make insurance feel approachable, transparent, and human.
Minnesota: We do not offer every plan available in your area. Currently, we represent 8 organization which offer 99 products in your area. Please contact medicare.gov, call 1-800-MEDICARE, or your local State Health Insurance Program (SHIP) to get information on all of your options.
Wisconsin: Please be advised – we do not offer every plan available in your area. Currently, we represent 6 organization offering Medicare products in this area. Please contact 1-800-MEDICARE, go to medicare.gov, or your local State Health Insurance Program (SHIP) to get information on all of your options.
