Medicare Annual Enrollment Period: How to Review and Change Your Coverage

Every year from October 15 through December 7, Medicare beneficiaries have the opportunity to review their coverage and make changes that take effect January 1. This is called the Annual Enrollment Period (AEP) -- and it's the most important Medicare event of the year.

During AEP, you can:

• Switch from Original Medicare to a Medicare Advantage plan
• Switch from Medicare Advantage back to Original Medicare
• Switch from one Medicare Advantage plan to another
• Switch from one Part D drug plan to another
• Join a Part D plan if you didn't have one before (late enrollment penalty may apply)
• Drop a Part D plan (you'll be without drug coverage until the next enrollment period)

What you CANNOT change during AEP:

• Medigap (Medicare Supplement) plans -- Medigap has its own enrollment rules and is not part of AEP

Plans change every year -- and so do your health needs. Here's what changes between plan years:

Plan changes:

• Premiums increase or decrease
• Deductibles and copays change
• Drug formularies change (your medication may move to a higher tier or be dropped)
• Provider networks change (your doctor may leave the network)
• Extra benefits change (dental, vision, hearing allowances)

Your changes:

• New medications may not be covered by your current plan
• New health conditions may make a different plan more appropriate
• Your doctors may have changed

Even if you're happy with your current plan, reviewing it annually ensures you're not paying more than necessary or missing better coverage.

Step 1: Review your Annual Notice of Change (ANOC) Your plan must send you an ANOC by September 30 each year. This document summarizes all changes to your plan for the coming year. Read it carefully.

Step 2: Make a list of your current medications List every prescription drug you take -- name, dosage, and frequency. This is the foundation of your plan comparison.

Step 3: List your doctors and hospitals Note every provider you see regularly and any hospitals you prefer.

Step 4: Use Medicare Plan Finder Go to Medicare.gov/plan-compare and enter your ZIP code, medications, and preferred pharmacies. The tool calculates your estimated total annual cost for each available plan -- including premiums, deductibles, and drug costs.

Step 5: Compare the top plans Look beyond the premium. Compare:

• Total estimated annual drug costs
• Doctor and hospital network
• Out-of-pocket maximum
• Extra benefits (dental, vision, hearing)
• Star rating

Step 6: Enroll by December 7 Changes made during AEP take effect January 1. If you don't make changes, your current coverage continues -- but it may have changed from the prior year.

Ignoring the ANOC: Many people throw away the ANOC without reading it. This is a mistake -- it tells you exactly what's changing.

Choosing based on premium alone: A $0 premium plan with high drug costs may cost more than a $30/month plan with better drug coverage.

Not checking your drug formulary: Your medications may have moved to a higher tier or been dropped from the formulary. Always verify your drugs are covered at an acceptable cost.

Not checking the network: Your doctor may have left the network. Verify before re-enrolling.

Waiting until December 7: Don't wait until the last day. If you have questions or need help, you want time to get answers.

• SHINE (Serving Health Insurance Needs of Elders): Free, unbiased Medicare counseling in Florida. Call 1-800-963-5337.
• Licensed Medicare specialist: Can compare all available plans in your area and help you choose the best fit.
• Medicare.gov: Plan comparison tool and general information.

We do not offer every plan available in your area. Please contact Medicare.gov or 1-800-MEDICARE to get information on all of your options.