Medicare Annual Enrollment Period 2026: What Florida Residents Need to Know

Florida's Medicare AEP runs October 15-December 7. Here's what's changed for 2026 and how to make a smart plan decision before the deadline.

Author: Lynsey Brennan, Licensed Medicare Advisor | Published October 03, 2026 Reading time: 6 min read

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Quick Answer

Medicare's Annual Enrollment Period (AEP) runs October 15 through December 7, 2026. During this window, Florida residents on Medicare can switch plans, drop or add Part D drug coverage, or move between Medicare Advantage and Original Medicare. Any changes you make take effect January 1, 2027.

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Key Takeaways

• AEP runs October 15 - December 7, 2026 — changes take effect January 1, 2027.
• The 2026 standard Part B premium is $202.90/month, with a $283 annual deductible (CMS, November 2025).
• Florida has one of the highest Medicare Advantage enrollment rates in the country — 56.1% of Florida Medicare beneficiaries are in an Advantage plan (CMS Medicare Monthly Enrollment, 2024).
• The Part D out-of-pocket cap for covered drugs dropped to $2,100 for 2026 (CMS CY 2026 Part D benefit parameters) — a significant change worth knowing before you renew.
• Not sure whether Medicare Advantage or a Supplement fits your situation? That's one of the most important questions to work through before AEP ends.

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Table of Contents

1. What Is AEP and Who Can Use It? 2. What's Changed for 2026 That Florida Residents Should Know 3. Medicare Advantage in Florida: High Enrollment, Real Trade-Offs 4. Medicare Supplement (Medigap): When It Makes More Sense 5. Part D Drug Coverage: The 2026 Cap Changes Everything 6. How to Compare Plans Before December 7 7. Common AEP Mistakes to Avoid

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What Is AEP and Who Can Use It? {#what-is-aep}

AEP — the Annual Enrollment Period — is the one time each year when nearly every Medicare beneficiary can make changes to their coverage without needing a special qualifying event. If you're already on Medicare Parts A and B, this window applies to you.

Here's what you can do during AEP:

• Switch from one Medicare Advantage plan to another
• Move from Original Medicare to Medicare Advantage
• Return to Original Medicare from Medicare Advantage
• Add, drop, or switch a standalone Part D drug plan

What AEP does not do: it doesn't let you enroll in Medicare for the first time. If you're turning 65 or approaching Medicare eligibility, you'll use a different window. See our guide to Medicare enrollment periods for the full picture.

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What's Changed for 2026 That Florida Residents Should Know {#whats-changed-2026}

A few numbers shifted meaningfully for 2026, and they affect your out-of-pocket costs whether you're on Original Medicare or an Advantage plan.

Part B premium and deductible: The standard monthly Part B premium is $202.90 in 2026, and the annual deductible is $283 (CMS, November 2025). If you pay IRMAA surcharges due to higher income, your premium will be higher — check your current Medicare notice or visit 2026 Medicare costs for the tiered amounts.

Part D out-of-pocket cap: Starting in 2026, the annual out-of-pocket cap for covered Part D drugs is $2,100 (CMS CY 2026 Part D benefit parameters). This is the first year a hard cap has applied, which means your costs for covered drugs stop at $2,100 for the year regardless of how expensive your medications are. This is a real, meaningful change for people on high-cost drugs.

Insulin: Covered insulin is still capped at $35/month under Medicare Part D — that hasn't changed.

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Medicare Advantage in Florida: High Enrollment, Real Trade-Offs {#medicare-advantage-florida}

Florida is one of the busiest Medicare Advantage markets in the country. As of 2024, 56.1% of Florida Medicare beneficiaries are enrolled in a Medicare Advantage plan (CMS Medicare Monthly Enrollment, 2024), compared to about 54% nationally (CMS, 2024). That's a lot of people — and a lot of plan options.

Many Advantage plans in Florida carry $0 monthly premiums and bundle in extras like dental, vision, and hearing benefits. That's genuinely appealing, especially for people on fixed incomes. But there are real trade-offs to weigh honestly:

• Network restrictions: Most Advantage plans are HMOs or PPOs, meaning you typically need to stay in-network to get the best rates — or to be covered at all outside emergencies.
• Prior authorization: Many services, including certain specialists and procedures, may require plan approval first. This is a real friction point that Original Medicare doesn't have.
• Out-of-pocket exposure: The 2026 in-network out-of-pocket maximum cap for Medicare Advantage is $9,350 (CMS, 2025). That's a ceiling set by CMS — individual plans may set theirs lower, but none can go higher. Still, $9,350 is a significant potential expense if you have a serious health event.

If you want to dig deeper, our Medicare Advantage guide covers how these plans work and what to watch for.

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Medicare Supplement (Medigap): When It Makes More Sense {#medigap-when-it-makes-sense}

Medicare Supplement plans — also called Medigap — work alongside Original Medicare to cover costs like deductibles, copays, and coinsurance. They don't include drug coverage (you'd add a standalone Part D plan), and they carry a monthly premium. But they also offer something Advantage plans don't: freedom to see any provider that accepts Medicare, anywhere in the country.

For people who travel frequently, have complex or ongoing health conditions, or simply want predictable costs, Medigap can make more sense — even with the premium. Plans G and N are the most commonly chosen among new enrollees, though plan availability and pricing vary by Florida county and insurer.

One important limitation: if you're not in a guaranteed-issue window, insurers in most states can medically underwrite Medigap applications. Florida does have some consumer protections, but they don't apply in every situation. Our Medicare Supplement guide walks through when you're protected and when you're not.

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Part D Drug Coverage: The 2026 Cap Changes Everything {#part-d-2026}

The new $2,100 annual out-of-pocket cap on covered Part D drugs is one of the biggest structural changes to Medicare drug coverage in years. Here's the practical implication: if your prescriptions cost a lot, you now have a defined stopping point.

That said, "covered drugs" is the key phrase. Not every drug is on every plan's formulary, and costs vary depending on which tier your drug falls into. Before December 7, pull up your current plan's Annual Notice of Change (it should have arrived in September) and check whether your medications are still covered at the same tier and cost.

You can also use our plan comparison tool or review our Part D drug coverage guide to compare options side by side.

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How to Compare Plans Before December 7 {#how-to-compare-plans}

Here's a straightforward process:

1. List your doctors and preferred hospitals. Check whether they're in-network for any Advantage plan you're considering. 2. List your current prescriptions. Use Medicare's Plan Finder or our plan comparison tool to check formulary placement and estimated annual drug costs. 3. Estimate your likely health care use next year. If you expect surgery, ongoing specialist visits, or frequent care, model out what your costs could look like under different plans. 4. Check the Star Ratings. CMS rates Medicare Advantage and Part D plans on a 1-5 star scale each year. Higher-rated plans tend to have fewer complaints and better member experiences. 5. Talk to a licensed advisor. If you're unsure, a free Medicare review can walk through your specific situation without sales pressure.

For a full breakdown of how these two approaches compare, see Medicare Advantage vs. Supplement.

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Common AEP Mistakes to Avoid {#aep-mistakes}

• Auto-renewing without checking. Your current plan may have changed its premiums, formulary, or network for 2027. Review it, don't assume.
• Choosing by premium alone. A $0-premium plan isn't free — copays and coinsurance add up quickly.
• Forgetting to check your drugs. Formularies change every year. A drug covered in 2026 may not be covered — or may be on a higher cost tier — in 2027.
• Waiting until December 7. You can enroll anytime during AEP. Waiting until the last day is a real risk if technical issues arise.

For more answers to common questions, visit our Medicare FAQ or check Florida Medicare data for local plan availability.

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Frequently Asked Questions

Q: Can I switch from Medicare Advantage back to Original Medicare during AEP? A: Yes. AEP allows you to disenroll from a Medicare Advantage plan and return to Original Medicare. If you want to add a Medigap policy at that point, keep in mind that medical underwriting may apply depending on your state and circumstances.

Q: Does AEP apply to people who are new to Medicare this year? A: No. If you're enrolling in Medicare for the first time, you use your Initial Enrollment Period, not AEP. AEP is for people already on Medicare who want to make changes to their existing coverage.

Q: Will my current Medicare Advantage plan automatically continue in 2027? A: In most cases, yes — if your plan is still available in your area and you don't make any changes, it will renew. But plan details including premiums, copays, and formularies can change year to year, so reviewing your Annual Notice of Change is important before letting it auto-renew.

Q: What's the difference between AEP and the Medicare Advantage Open Enrollment Period? A: AEP (October 15 - December 7) is when you can make most plan changes. The Medicare Advantage Open Enrollment Period runs January 1 - March 31 and allows people already in a Medicare Advantage plan to switch to a different Advantage plan or return to Original Medicare — but it doesn't let you switch to Advantage from Original Medicare.

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The Bottom Line

AEP 2026 is a real opportunity to make sure your Medicare coverage still fits your life, your doctors, and your budget. With the new $2,100 Part D out-of-pocket cap, updated premiums, and possible changes to your current plan's benefits, it's worth taking an hour to review before December 7. If you'd like help working through your options, schedule a free Medicare review with a licensed advisor — no obligation, just straight answers.

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Sources

• CMS Medicare Monthly Enrollment, 2024 — Florida Medicare Advantage enrollment rate (56.1%) and national rate (~54%)
• CMS, November 2025 — 2026 Part B premium ($202.90/month) and Part B deductible ($283)
• CMS CY 2026 Part D Benefit Parameters — 2026 Part D annual out-of-pocket threshold ($2,100)
• CMS, 2025 — 2026 Medicare Advantage in-network out-of-pocket maximum cap ($9,350)
• Inflation Reduction Act / Medicare Part D — $35/month insulin cap for covered insulin under Part D

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This article is for educational purposes and is not affiliated with or endorsed by the federal Medicare program or any government agency. HealthPlan Connect is a private, licensed Medicare advisory service. FL License #G007269.