Medicare Open Enrollment, which runs through Dec. 7, is the one time each year when people with Medicare can make changes to their health and prescription drug plans. Because plans change annually and individual health needs evolve, reviewing coverage options is one of the most important health decisions beneficiaries can make. Failing to act could mean missing out on significant savings or ending up in a plan that no longer covers needed doctors or medications.
The implications are substantial. A plan that worked last year may no longer be the best fit this year, and out-of-pocket costs can vary widely. For example, one person with Medicare compared drug plans for a blood thinner and a common cholesterol medication and found that yearly costs ranged from $1,356 to $2,965. By choosing the lowest-cost plan, they saved more than $1,600 while keeping essential medications covered. Such savings underscore why a thorough review matters: beneficiaries who skip Open Enrollment risk paying hundreds of dollars more than necessary.
To help with the review, beneficiaries should check four key areas: coverage for preferred doctors, prescriptions and pharmacies; costs such as premiums, deductibles and copays; changes to the plan for the coming year; and side-by-side comparisons of available options. The official resource for this process is Medicare.gov, which allows users to explore and compare every available Medicare health and drug plan in their area. For those who prefer personalized assistance, 1-800-MEDICARE connects callers with experts available 24/7.
Getting started early is important because missing the Dec. 7 deadline could mean waiting a full year before making any changes. To begin, users can visit Medicare.gov and click “Find Plans Now.” Logging in or creating a Medicare account provides the best shopping experience, enabling easy side-by-side comparisons based on the medications taken.
During Open Enrollment, scammers often ramp up efforts to steal personal information by pretending to be from Medicare or an insurance company. Medicare will never contact beneficiaries unsolicited. Anyone who receives an unexpected call, text or email about Medicare should hang up or delete the message. Suspected fraud should be reported immediately at Medicare.gov/fraud or by calling 1-800-MEDICARE. Never share a Medicare Number, Social Security Number or financial information with unknown individuals.
With the deadline approaching, beneficiaries are encouraged to start reviewing their options today at Medicare.gov. Taking the time now can secure a plan that fits current health needs and budget—and potentially save hundreds of dollars.
