There are millions of older Americans today who rely on Medicare for access to health coverage. If you're one of them, it's important to keep tabs on Medicare happenings in case changes to the program take place that apply to you. Here are a couple of important things to know about Medicare this March.
1. You may be looking at higher costs
If you haven't used your Medicare coverage much this year, or if your Part B premiums get paid directly out of your Social Security benefits, you may not have realized that a number of costs increased in 2026. But it's important to know what your out-of-pocket spending might look like based on recent changes.
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The standard monthly Medicare Part B premium rose from $185 last year to $202.90 this year. The annual Part B deductible, meanwhile, increased from $257 to $283.
A number of costs related to Part A went up as well. The inpatient hospital deductible rose from $1,676 to $1,736. And the daily hospital coinsurance rate rose from $419 to $434 for days 61 through 90 of a hospital stay.
If you're on original Medicare and you haven't purchased a Medigap plan yet, it could pay to do so given these cost increases. Medigap could help cover deductibles, coinsurance, and other costs that come with having Medicare.
If you're beyond your initial six-month Medigap enrollment window, you may be looking at higher costs for supplemental insurance. But it's worth exploring your options. Without Medigap, you could end up on the hook for huge amounts of out-of-pocket spending if you need a lot of health services this year (or in the future).
2. You have a few more weeks to make changes to your Medicare Advantage plan
If you're currently enrolled in a Medicare Advantage plan, you have until March 31 to make changes to your coverage thanks to a special open enrollment period for Advantage plans only. You can either switch to a different Medicare Advantage plan or dump Medicare Advantage in favor of original Medicare. If you do the latter, you'll be able to buy a Part D drug plan.
It pays to explore your choices if you aren't happy with your current Medicare Advantage plan, whether due to higher costs or missing benefits. It could also be worth making a switch if your preferred providers are no longer in your plan's network.
It's always a good idea to read up on Medicare and see what changes or rules are new. Knowing your costs could help you better manage your budget. And understanding enrollment periods could help you make strategic changes to your coverage.
