How to save on 2026 Medicare costs during open enrollment

Rising Medicare premiums and disappearing plans make this year's enrollment period crucial for keeping healthcare costs in check. Edgars Sermulis/Getty Images

The cost of Medicare is headed noticeably higher next year. According to the latest Medicare Trustees report , Part B monthly premiums are expected to jump from about $185 in 2025 to $206.50 in 2026 — one of the biggest year-over-year increases in the program's history. Meanwhile, Medicare Part D prescription drug plan costs are set to climb as well, with premiums allowed to increase by as much as $50, up from the $35 cap the government set in 2025.

And, many of the largest private insurers are also planning to pull back on their Medicare offerings or exit the market altogether in 2026 due to declining profitability, which