October is recognized as National Financial Planning Month (at least according to certified financial planners).

Medicare open enrollment, which lasts until Dec. 7, gives beneficiaries the ability to select health coverage for 2026. Here's what experts recommend considering.

"Medicare part B might be going up, but Medicare part D which is the benefit where you go to the drugstore, that's actually going down a little bit and the Medicare Advantage prices, in general, are dropping so there's some up, there's some down," said Dr. Mehmet Oz, administrator of the Center for Medicare and Medicaid Services.

The annual enrollment period for Medicare — government-supported health benefits for retirees — starts Oct. 15.

Medicare costs are rising significantly in 2026, with Part B premiums set for one of the largest hikes in the program's history and Part D plans facing steep increases as well. At the same time, insurer pullbacks are reshaping the Medicare landscape, making this open enrollment period even more important than normal.

“Medicare Advantage and Part D plans often change from one year to the next, so people may see changes to their premiums, cost-sharing, coverage of their medications, and their health provider or pharmacy networks,” says Alex Cotrill, a senior policy analyst at KFF.

Ah, fall—the season of pumpkin spice, political ads, and the annual flood of cheery voices promising to “simplify” your Medicare choices. For anyone over 65, it’s less pumpkin patch and more paperwork panic,

Provider directories for Medicare Advantage and AI prior authorization in select states are among the changes for 2026.

Enrollment for Medicare is open until Dec. 7. During this time, Medicare enrollees can switch between Original Medicare (Parts A and B) and a Medicare Advantage plan, which private insurance companies distribute. They can also add a Medicare Part D prescription drug plan, which helps Americans afford their medication.

Nearly two-thirds of Americans (64%) believe Medicare benefits will be reduced under the current administration, according to a recent NerdWallet survey. For some, a reduction in benefits could be coming as soon as next year — along with a bigger price tag.