Medicare Open Enrollment Is 3 Months Away: 3 Key Moves to Make Now to Prepare

At this stage of the year, a lot of people are busy enjoying summer travel, hitting the beach, and attending or hosting barbecues. Medicare open enrollment may be the last thing on your mind since it doesn't begin until mid-October.

But it's important to prepare for Medicare open enrollment ahead of time so you're able to make the most of that period and alleviate some stress. Open enrollment runs from Oct. 15 through Dec. 7. That may sound like a long time, but it tends to coincide with a busy part of the year. So the more planning you're able to do in advance, the better.

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Here are three smart moves to make this month so you're better equipped to review your Medicare plan choices during the fall.

1. Go over your prescription needs

Chances are, you take at least one prescription medication. And some retirees take multiple prescriptions. Now's the time to make a list of the medications you use, your dosages, and your refill schedule.

Even if your prescriptions have been the same for years, Medicare drug plan formularies can change annually. A drug that's covered this year could move to a higher tier in 2027, costing you more money, so having a complete prescription list is crucial. And if you end up being prescribed something new between now and mid-October, you can just add it on rather than start from scratch.

2. Make a list of your plan's pros and cons

Some people stick with the same Medicare plan year after year because it's familiar and convenient. But that doesn't mean your plan is optimal.

Whether you're on Medicare Advantage or have a Part D drug plan, now's the time to make a list of the features that do and don't work for you. This should give you a better starting point to look at options during the fall.

If you have Medicare Advantage, you may not love your limited provider network. If you have a Part D plan, you may not love your copays for certain drugs. These are complaints another Medicare plan could address, so it's good to have them written down clearly.

3. Talk to your providers about upcoming changes to your care

If your provider has mentioned starting you on a new medication or type of therapy, now's a good time to revisit those conversations. It could help you make a more guided decision about the Medicare plan you choose for next year.

If your doctor is planning to switch you off a certain medication and replace it with a different one, that could directly impact your Part D choices. And if your doctor feels you could benefit from a gym membership or meal delivery service to manage a medical condition you have, you may want to find a Medicare Advantage plan that offers those benefits.

Although Medicare open enrollment is a few months out, preparing now could make the process of reviewing your coverage options less stressful. So even though you may be deep in the throes of summer, it pays to take a little time to tackle the moves above.

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