On October 30, 2025, CMS released the 2026 MA plan benefit data. This first paper in Wakely’s 2026 MA market paper series provides an initial analysis of the 2026 MA benefit landscape, highlighting key trends and changes for 2026. Using Wakely’s WMACAT and SMART tools, the paper finds that general enrollment MA plans experienced notable reductions in overall plan value with an average decline of 11%. In contrast, D‑SNPs saw only a small reduction in plan value (2.6%), with several large organizations actually enhancing benefits for 2026.
These trends highlight diverging strategies between general enrollment and D‑SNPs, influenced by revenue pressures and policy changes including the sunset of the VBID model and the ongoing implementation of the Inflation Reduction Act’s Part D reforms. Overall, 2026 reflects a broad recalibration across the MA market, with plans tightening benefit designs to remain financially sustainable amid continued policy and revenue pressures.
