Are You Ready for Medicare Open Enrollment? 3 Things You Can Do Now.
Key Points
Medicare open enrollment begins on Oct. 15.
It's an opportunity to make changes to your Medicare coverage.
Reviewing your plan's notice of change, prescriptions, and upcoming care needs could help you make a better decision.
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The second half of September is an interesting time. Summer is on its way out, the weather is cooling, and a lot of folks are getting ready to embrace the glory of fall.
If you're on Medicare, there's a big event coming up in less than a month you should have on your radar: open enrollment. Medicare open enrollment begins on Oct. 15 and ends on Dec. 7. During this time, you can make changes to your Medicare coverage, whether it's switching from one Part D drug plan to another or choosing a different Medicare Advantage plan.
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Even though there's still a bit of time before open enrollment begins, it's important to go in prepared. Here are three things you can do now or in the coming weeks that could make it easier to review your plan choices by mid-October.
1. Review your plan's annual notice of change
Each year, Medicare Advantage and Part D plan administrators are required to send out a notice of change. This document should arrive by the end of September and cover how your plan may change in 2027.
That could mean your medications are being moved to a different tier, resulting in higher or lower costs for you. It could also mean your Medicare Advantage plan is adding or dropping benefits, or that providers you see are moving out of your plan's network.
It's important to understand what changes are coming to your current plan to know whether they're deal-breakers. And even if your plan's changes don't seem all that significant, it's important to know what you're dealing with. So read that notice carefully before open enrollment begins.
2. Go over your list of prescriptions
If you take medications regularly, now's a good time to make a list of each one, along with your dosage. You'll typically need this information to review your drug plan choices for 2027.
Medicare drug plan formularies can change year to year. Knowing exactly what your prescription list looks like could help you find the most affordable coverage for the new year.
3. Figure out if you'll need new medications or specialists in the new year
If you're following up on a health issue with your providers or have discussed a change to your medication, now's a good time to nail down a game plan. That's because your doctors' plans for you in the new year could have an impact on the Medicare plan you choose.
A new medication on your list, for example, might make one Part D plan a better choice than another. So do your best to get that information before open enrollment, if possible.
Even if you've been through open enrollment before, navigating your plan choices can be a complicated process. The more steps you take ahead of open enrollment to prepare, the easier it might be to find the optimal Medicare plan for 2027.
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