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.

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 2026, this deductible is $257, up from $240 in 2024 ( Centers for Medicare & Medicaid Services ) ( Kiplinger.com ).

*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 ).

Those cost projections become more concrete when you map them against what Tenet Healthcare's benefits structure actually provides. Tenet Healthcare maintains an active defined benefit pension plan, meaning eligible employees continue to accrue benefits based on years of service and compensation. If you are eligible for a lump sum payout, IRS Section 417(e) segment rates determine how the future annuity stream converts to a present-value payment - rising rates compress the lump sum, so monitoring the plan's stability period and lookback month is critical before you lock in your election date. The choice between a single-life annuity, a joint-and-survivor option, or a lump sum (where available) is generally irrevocable once made, and timing that decision relative to interest rate conditions can meaningfully affect your retirement income picture.

On the healthcare side, Tenet Healthcare does not offer continued medical coverage to retirees, which means coverage through the company ends when employment does. Planning for the cost of health insurance during any gap between your retirement date and Medicare eligibility at age 65 is a critical step - marketplace coverage, COBRA continuation, or a spouse's employer plan are common options. Building an accurate estimate of bridge-coverage costs into your retirement income projection prevents underestimating one of the largest variable expenses retirees face. Connecting your specific Tenet Healthcare benefits situation to a comprehensive retirement income plan - and understanding how each component interacts - gives you the most complete picture of what retirement will look like.