Medicare's 2026 Open Enrollment Period runs from Oct. 15, 2026, to Dec. 7, 2026. For most seniors, it's the only opportunity to change their policy for next year. If you don't choose a new plan by the deadline, you'll remain with your existing health insurance plan.

If you're trying to keep your retirement healthcare costs manageable, it's worth taking the following three steps over the next couple of weeks.

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1. Review your existing health insurance policies

Your current health insurance provider should have sent you a notice outlining the plan changes for 2027. If you haven't received one, keep an eye out for it or contact your insurer directly for this information.

Review your existing coverage and note any likes or dislikes in your policy. If there are any dealbreakers, like a plan not covering a prescription you need to take, it's probably worth switching policies for next year.

2. Make a list of your Medicare plan must-haves

Make a brief list of the things you need your health insurance plans to cover, whether it's certain doctors or specialists, treatments, or medications. Keep this list handy to narrow down your plan options.

The Medicare website has tools to help you filter out plans that don't cover the prescription drugs you need and to check whether your doctor(s) are in the plan's network. You can eliminate any plans that don't meet these criteria from your search, so you have fewer options to investigate.

3. Compare your remaining options

Once you've filtered out the plans that don't meet your criteria, you can evaluate your remaining options based on cost, coverage, and customer service. Obviously, cost is the main consideration for most people, but it's important to consider the whole picture. If one plan offers significantly better coverage for only a few dollars more per month, the trade-off might be worth it.

If you have any questions about the plans being offered, contact the plan administrators for clarification before you change your coverage. It's best to do this in either October or November, so you're not scrambling to sort everything out during the final week of the Open Enrollment Period. Give yourself plenty of time to compare your options, so you know you're making the best choice for you.

Your new coverage will begin in January. If you've switched plans, your insurer should send you new insurance cards before the start of the new year.