Brace yourself for some unpleasant Medicare drug changes next year. Here's how to ease the pain.

Core Insights - Medicare open enrollment for 2026 is approaching, with significant changes expected for Part D prescription drug plans, including higher premiums and out-of-pocket costs [1][4] - Beneficiaries must be vigilant regarding their coverage options and potential changes to their plans [2] Enrollment Period - The open enrollment period for Medicare runs from October 15 to December 7, allowing beneficiaries to modify their coverage, which will take effect on January 1 [3] Beneficiary Statistics - Out of 68.8 million Medicare beneficiaries, 54.8 million are enrolled in Part D prescription drug plans operated by private insurers, indicating a substantial portion of the population affected by upcoming changes [4] Cost Changes - In 2026, the annual out-of-pocket drug costs for seniors enrolled in Part D will be capped at $2,100, a provision from the 2022 Inflation Reduction Act [5] - However, this cap only applies to drugs covered by the plan, meaning beneficiaries will pay full price for non-covered medications [6] Deductibles and Premiums - Most Part D plans will have a deductible in 2026, with the maximum annual deductible increasing to $615 from $590 in 2025 [7]