Medicare costs are rising in 2026. Here’s how to save during open enrollment

By Elizabeth Aldrich, NerdWallet

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.

Medicare Part B premiums are estimated to increase by $21.50 to $206.50 next year according to the Medicare Trustees — one of the bigger premium hikes in Medicare history. Medicare Part D prescription drug plans can increase premiums by as much as $50, up from last year’s $35 cap set by the government. And many of the largest private insurers are pulling back on their Medicare offerings or exiting the market entirely due to lack of profitability.

Consumers have one major defense against rising costs,