Medicare Guide: Costs, Enrollment, Plans and Coverage

Quick answer

Medicare is federal health insurance for people 65 and older and some younger people with disabilities. Most people first sign up during a 7-month window around their 65th birthday. After that, you can change plans each fall during Open Enrollment, October 15 to December 7. You choose between Original Medicare (Parts A and B, usually with a Part D drug plan and often a Medigap policy) and a Medicare Advantage plan.

Key Medicare figures

Item20262027
Part B standard premium$202.90 a monthAnnounced by CMS in November
Part B deductible$283Announced by CMS in November
Part A hospital deductible$1,736 per benefit periodAnnounced by CMS in November
Part D deductible (maximum)$615$700
Part D out-of-pocket cap$2,100$2,400
Medicare Advantage in-network out-of-pocket limit (maximum)$9,250$9,850
Open EnrollmentOct 15 – Dec 7Oct 15 – Dec 7

Last reviewed October 26, 2026 by Greg Wilson. Sources: CMS, Medicare.gov.

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This is SeniorAffair’s guide to Medicare, with every one of our Medicare articles in one place. Start with the essentials below, or jump to a topic. Each article lists its sources, and figures are checked against Medicare.gov and CMS.

Start here

Costs and premiums

What you pay for Medicare: premiums, deductibles, income-based surcharges and how to budget.

Enrollment, deadlines and penalties

When to sign up, how to change plans and how to avoid lifetime late penalties.

Medicare Advantage

How Advantage plans work, their trade-offs, and what to do when a plan cuts benefits or leaves your area.

Medigap (Medicare Supplement)

Plans that fill the gaps in Original Medicare, including Plan G, Plan N and high-deductible Plan G.

Part D and prescription drugs

Drug plans, the out-of-pocket cap, formularies and ways to save on prescriptions.

What Medicare covers

Plain answers to “Does Medicare cover…?” questions about tests, procedures, equipment and care.

Medicaid, PACE and help paying

Programs that lower costs for people with limited income, and all-in-one care options.

Medicare basics

How the parts of Medicare fit together.

Beyond Medicare: dental and long-term care

Coverage Medicare mostly leaves out, and how to plan for it.

Questions about this guide or a correction? Contact us. Read how we research and update articles in our Editorial Policy.