Preparing for Medicare Annual Enrollment: What to Review in Your Current Plan
Medicare Annual Enrollment Period runs from October 15 through December 7 each year. Using the time before this window opens to review your current plan positions you to make well-informed decisions about coverage for the coming year.
Review Your Annual Notice of Change. Medicare Advantage and Part D plans are required to send an Annual Notice of Change (ANOC) by September 30. This document details changes to your plan's premiums, benefits, cost-sharing, and network for the coming year. Reading it carefully is the foundation of your annual review.
Check Your Medications. Compile a current list of your prescriptions—drug name, dosage, and frequency. Use Medicare's Plan Finder tool to verify each medication is still on your plan's formulary and to compare drug costs across plans. A medication moving to a higher tier can significantly affect your annual drug spending.
Verify Your Providers. If you have Medicare Advantage, confirm your physicians, specialists, and preferred facilities remain in your plan's network for next year. Networks change annually, and losing a preferred provider mid-year can be disruptive and costly.
Consider Your Healthcare Usage. Reflect on how you used your healthcare this year. Did you have high out-of-pocket costs? Did you use all the plan's included benefits? Anticipate any planned procedures or care needs for next year. This real-world usage data informs whether your current plan structure still fits.
Compare Alternatives. Even if your current plan seems adequate, comparing alternatives during Annual Enrollment may reveal better options. Medicare's Plan Finder allows you to compare plans based on your specific medications, providers, and preferences.
