Annual Enrollment Period (Oct 15 – Dec 7) is coming. Here are 7 practical, money-saving moves for
Medicare beneficiaries to compare plans, avoid surprises, and get the coverage you need.
If you’re on Medicare, the Annual Enrollment Period (AEP) from October 15 to December 7 is your
once-a-year chance to review your coverage and make changes for the year ahead. Plans update
premiums, copays, drug formularies, and networks-so “do nothing” often means accepting changes
you didn’t intend. The good news: a focused, 60-90 minute review can prevent surprises, uncover
new benefits, and often save real money.
Below are seven smart, practical moves to help you get ready-and get it right.
1) Pull your current plan’s Annual Notice of Change (ANOC). Every Medicare Advantage and Part D
plan must send an ANOC each fall showing what’s changing next year. Look for shifting premiums,
deductibles, drug tiers, and out-of-pocket maximums. If you take name-brand medications or see
specific specialists, small tier or network adjustments can add up quickly. Tip: highlight anything that’s
increasing or any benefits you used this year (dental, vision, hearing, over-the-counter allowances) to
confirm they’re still included for next year.
2) Create a current “meds & docs” snapshot. Make a quick list of your prescriptions (name, dosage,
frequency) and your preferred doctors, pharmacies, and facilities. This one sheet is the backbone of a
good comparison. Why? Because the “best plan” is the one that covers your exact meds affordably
and keeps your doctors in-network. If you split fills between retail and mail-order, note that too-pricing
can differ dramatically. Bring this list to any review so it’s not guesswork.
3) Compare total annual costs, not just the premium. Low-premium plans can be attractive, but the
bigger picture is your total cost for the year: premiums + copays/coinsurance + deductibles + drug
costs. A plan with a $0 premium is not inherently “cheaper” if it exposes you to higher out-of-pocket
costs when you actually use care. Ask for a side-by-side comparison that estimates total annual
spend based on your typical usage. If a plan has higher specialist or hospital copays, ensure the
out-of-pocket maximum is acceptable for your budget.
4) Double-check your drug coverage (formularies & tiers). Part D and Medicare Advantage plans
update formularies every year. A medication that was Tier 2 can jump to Tier 3, or require prior
authorization or step therapy next year. That can change your monthly cost. Run your meds on at
least two strong contenders. Confirm whether your preferred pharmacy is a “preferred” network
pharmacy-this can reduce copays materially. If a drug’s tier leaps, ask whether there’s a clinicallyequivalent generic or a patient assistance option.
5) Look beyond medical to “everyday value” benefits. Many Medicare Advantage plans include extras
that you might actually use-dental cleanings, basic eyewear allowances, hearing aid discounts,
fitness benefits, transportation, meals after a hospital stay, or an over-the-counter (OTC) card for
health items. These aren’t fluff if they offset expenses you already have. Verify the caps and
frequency limits (for example, two cleanings per year up to a dollar limit). If you rely on a specific
dentist or audiologist, confirm that they’re in the plan’s network.
6) Check network strength where you live and travel. A plan that looks great on paper can be
frustrating if your primary care, cardiologist, or hospital of choice is out-of-network. Ask for a quick
“network audit” for the doctors and facilities you actually use. If you split time between states or visit
family out of town, consider how the plan handles urgent and emergency care, travel coverage,
referrals, and telehealth. Some plans have broad national networks or guest-membership
options-worth knowing before you need care.
7) Get a second set of eyes-no cost, no pressure. Medicare is complicated, and you shouldn’t have to
navigate it alone. A licensed, independent agent can review your meds and doctors, run comparisons
across carriers, and explain trade-offs clearly. The goal is simple: match you with the right coverage
for your health needs and your wallet-not to push a product. A well-run review typically takes under
an hour and can prevent a year of headaches.
Frequently asked questions this time of year
– “If I like my plan, do I have to do anything?” No-but do verify next year’s changes in your ANOC. If
the costs and benefits still work for you, staying put can be perfectly fine.
– “What if I switch and regret it?” Most changes made during AEP take effect January 1. In limited
circumstances, there may be Special Enrollment Periods, but generally you’ll keep the plan you
choose for the calendar year-so it’s worth getting it right now.
– “Will I lose my doctors if I change plans?” Not necessarily. Many doctors participate in multiple
networks. The key is to verify before you submit an application.
A simple game plan for the next two weeks
- Gather your ANOC, your meds & docs list, and your Medicare card. 2. Schedule a complimentary
review to compare plans side by side using your actual medications and preferred providers. 3.
Choose the plan that delivers the best combination of cost, coverage, and convenience for 2026-and
complete any required enrollment steps during AEP (Oct 15-Dec 7).
The bottom line
Your health needs and plan details change over time. A quick, informed review each fall can save
money, reduce hassles, and help you start the new year with confidence. If you’d like unbiased help,
I’m here to make the process simple and transparent.
Schedule your complimentary Medicare Review or Financial Needs Analysis today. Protect your income, secure your healthcare, and step into retirement with peace of mind.
