With the end of the year approaching, there are important dates to keep in mind regarding health insurance, other employer benefits and Medicare. Below are some important dates and considerations, regardless of your health insurance situation.

Open Enrollment with Employer plans

If you are covered under an employer plan, end of year is a common time for Open Enrollment within companies. This is the time each year you are allowed to make changes to various benefit plans. We recommend evaluating all benefits during open enrollment, not just health insurance. Human Resources should be able to provide a summary of current benefits. This is a great time to review retirement plan contributions, life insurance and disability coverage as well. Below are some specific areas to review:

• Retirement plans – Are you set to maximize your contributions (including any catch-up amounts if you’re over 50)? Starting in 2026, catch-up contributions for high earners (over $145,000 per year) will be required to be Roth (vs. pre-tax). There is also a higher catch-up contribution limit which applies for employees aged 60 to 63. These amounts have not yet been publicly announced but should be released next month.
• Health insurance – If you or your family’s medical needs have changed during the year, a different health plan may be a better fit. High-deductible plans with an HSA (Health Savings Account) option are becoming more widely available from employers. Depending on your situation, these can be a good fit and provide additional tax-deferred savings.
• Flexible Spending Accounts (FSAs) – This is a good time of year to make sure to use the funds in these plans, since they are “use-it-or-lose-it” by December 31^st. Determine if it makes sense to participate in 2026 based on actual 2025 expenses and known changes.
• Life and disability insurance – If these coverages are offered through your employer, year-end is a good time to determine if any should be added, dropped or changed.
• Fringe benefits – Explore other benefits your employer may offer to ensure you take advantage of any that are applicable. Some examples are student loan assistance, legal plans, travel discounts and mental health counseling.

The above are just a few of the items that might apply during a benefits review. Since all benefit plans are different and every client has unique goals, we recommend consulting with your primary advisor when open enrollment comes around. We are happy to review your current benefits and recommend any changes that may be needed.

For Those 65 or Older – Medicare Open Enrollment

Annual Open Enrollment – October 15^th to December 7^th. Open enrollment is the period each year when you are allowed to enroll in a Medicare Advantage plan for the first time, change to a new Medicare Advantage plan, join a prescription drug plan (Medicare Part D) or change your current prescription drug plan. You can review plans using the Medicare Plan Finder tool and enroll in a new plan online or over the phone. Even if you are happy with your current coverage, this is a great time to review your plan and take notice of any changes being made for next year. Your current plan should send out their Annual Notice of Change (ANOC) this month detailing any changes to the plan starting January 2026.

Some Medicare Changes for 2026:

• Medicare-negotiated lower drug prices start in 2026 with 10 medications receiving discounts of 38% to 79% off list prices.
• Prescription out-of-pocket annual cap continues with an increase to $2,100 (from $2,000 in 2025)
• Experts expect fewer Medicare Advantage plans to be available with lower benefits in 2026.
• Higher Part B Premiums: The official 2026 Part B premium is not published yet, but the Medicare Trustees Report projects that the standard premium (for those not subject to the high-income surcharge) will be $206.50/month.

Whatever your situation, we would be happy to help you evaluate your options or refer you to an independent insurance agent for assistance.

Mary McCraw, CFP®

Vice President

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