Medicare Open Enrollment Insights for HF Sinclair Employees: What You Need to Know About 2024 Cost Changes!

Healthcare Provider Update: Offers medical plans through Blue Cross Blue Shield of Texas (BCBSTX), with options for PPO and HDHP plans, plus dental (BCBSTX), vision (VSP), and virtual care via MDLIVE 1. As ACA premiums rise and subsidies expire, HF Sinclairs employer-sponsored plans with preventive care and wellness incentives may help employees avoid the steep out-of-pocket costs expected in the marketplace. Click here to learn more

As oil prices hit ~$107/barrel amid the Q1 2026 Middle East energy crisis, HF Sinclair employees managing healthcare costs and HSA contributions should be aware that energy-driven inflation is rippling through the healthcare sector, affecting insurance premiums and out-of-pocket costs.

In Q1 2026, Brent crude has surged to approximately ~$107/barrel and WTI to ~$94/barrel, as the ongoing Middle East conflict has restricted critical energy supply routes and strained global petroleum inventories.

LNG markets have been hit particularly hard, with European TTF near ~$16.90/MMBtu following Iran's attacks on the Ras Laffan LNG facility, which handles roughly 20% of global LNG production.

As the Q1 2026 energy price shock pushes consumer costs higher, HF Sinclair employees should review their healthcare benefit elections and consider maximizing HSA contributions as a tax-efficient hedge against rising healthcare and general living costs.

Medicare's Open Enrollment Period — which runs from October 15 through December 7 — is your annual opportunity to switch your current Medicare health and prescription drug plans to ones that better suit your needs. Medicare premiums, deductibles, and other costs for 2026 have been announced -- and comparing plans during Open Enrollment remains one of the most important steps a retiree can take to control healthcare costs.

What to consider
Start by reviewing any materials your plan has sent you. Look at the coverage offered, the costs, and the network of providers, which may be different than last year. Maybe your health has changed, or you anticipate needing medical care, or new or pricier prescription drugs. If your current plan doesn't meet your health-care needs or fit your budget, you can make changes. But if you're satisfied with what you currently have, you don't need to do anything. The coverage you have will continue.

During Open Enrollment, you can:

1. Switch from Original Medicare to a Medicare Advantage Plan

2. Switch from a Medicare Advantage Plan to Original Medicare

3. Change from one Medicare Advantage Plan to a different Medicare Advantage Plan

4. Change from a Medicare Advantage Plan that offers prescription drug coverage to a Medicare Advantage Plan that doesn't offer prescription drug coverage

5. Switch from a Medicare Advantage Plan that doesn't offer prescription drug coverage to a Medicare Advantage Plan that does offer prescription drug coverage

6. Join a Medicare prescription drug plan (Part D)

7. Switch from one Part D plan to another Part D plan

8. Drop your Part D coverage altogether

Any changes made during Open Enrollment are effective as of January 1, 2026.

Medicare Part B (Medical Insurance) Costs for 2026

Any changes made during Open Enrollment are effective as of January 1, 2026.

Most people with Medicare who receive Social Security benefits will pay the standard monthly Part B premium of $202.90. This premium adjusts annually based on healthcare costs and adjustments in Part B items and services ( Grant Thornton ) ( Kiplinger.com ).

People with higher incomes may pay more than the standard premium. If your modified adjusted gross income (MAGI) as reported on your federal income tax return from two years ago (2024) is above a certain amount, you'll pay the standard premium amount and an Income-Related Monthly Adjustment Amount (IRMAA), which is an extra charge added to your premium, as shown in the following table ( Grant Thornton ) ( Kiplinger.com ).

Additional Information

People with higher incomes may also pay a higher premium for a Medicare Part D prescription drug plan, as an IRMAA will be added to the Part D basic premium based on the same income limits in the table above. The average basic monthly premium (based on current CMS data) is projected to be about $55.50 ( Centers for Medicare & Medicaid Services ) ( Kiplinger.com ) ( Medicare ).

People with Medicare Part B must also satisfy an annual deductible before Original Medicare starts to pay. for 2025, this deductible is $240, up from $226 in 2023 ( Centers for Medicare & Medicaid Services ) ( Kiplinger.com ).

Featured Video

Articles you may find interesting:

*This premium applies to a new benefit that extends coverage for immunosuppressive drugs for people who qualify for Medicare coverage due to end-stage renal disease. Prior to 2024, Medicare coverage, including immunosuppressive drug coverage, ended 36 months after a successful kidney transplant. Beginning January 1, 2024, Medicare expanded coverage to pay for immunosuppressive drugs beyond 36 months for people who don't have other health coverage. It does not cover other items or services. Rates shown apply to people who file individual or joint tax returns. Premiums for beneficiaries filing as married filing separately are different ( Centers for Medicare & Medicaid Services ) ( Medicare ).

Medicare Part A (Hospital Insurance) Costs for 2026

• Part A deductible for inpatient hospitalization:  $1,676 per benefit period (2025; up from $1,632 in 2024).

• Part A premium for those who need to buy coverage:  Up to $514 per month (up from the prior year rate) — most people don't pay a premium for Medicare Part A.

• Part A coinsurance:  $408 per day for days 61 through 90, and $816 per 'lifetime reserve day' after day 90, up to a 60-day lifetime maximum (up from prior year rates).

Part A skilled nursing facility coinsurance:  $204 for days 21 through 100 for each benefit period (up from the prior year rate) ( Centers for Medicare & Medicaid Services ) ( Kiplinger.com ).