October is an important month for retirees because it’s typically when Social Security announces its upcoming cost-of-living adjustment. But it’s also important because October marks the start of Medicare open enrollment.
During Medicare open enrollment, which runs from October 15 through December 7, current Medicare enrollees can make changes to their coverage. That could mean finding a new Part D drug plan or moving from one Medicare Advantage plan to another with better coverage and benefits.
Whether you’re new to Medicare open enrollment or not, it’s important to navigate this period strategically. Here are five tips to help you kick things off.
1. Start early
There’s a lot of information to digest during open enrollment. You need to figure out if your current Medicare plan is worth keeping and if not, what your next steps entail.
Don’t wait until November to get the ball rolling. Even though you have until December 7 to choose your coverage for 2026, waiting that long could mean having to rush through things. And if you find yourself scrambling to make a choice, it could end up being a poor or costly one.
2. Make sure you understand what’s changing with your current plan
You can’t easily decide whether you need a new Medicare plan until you take the time to understand what’s happening with your current one. Review your Advantage or Part D plan’s annual notice of change. It should include details on what your premiums, deductibles, and copayments will look like in 2026 if you decide to keep your coverage.
If you have a Medicare Advantage plan, review its list of in-network providers for 2026. You don’t want to keep a plan because you like the doctors you have access to only to learn that they won’t be in-network once the new year begins.
3. Confirm your medications
Medication costs may be a huge expense for you as a Medicare enrollee. One important thing to do is review your current medications and talk through your options with your doctors.
One of your providers may decide to have you stop taking a certain drug, or switch to a new one that comes with a different price tag. Or, you may be told you can switch over to a generic.
It’s important to have this information now as you review your plan choices. Each Medicare Part D plan has its own formulary that groups drugs into different tiers. That, in turn, could have a huge impact on the costs you’ll face. So you definitely need to know what your medication lineup looks like before you start exploring different plans.
4. Don’t just look at premiums
When you’re shopping around for a Medicare plan, it’s natural to focus on monthly premiums, since it’s an easy point of comparison. But don’t forget that your Medicare plan premiums represent just one expense that comes with having coverage.
There are other costs you might incur if you’re enrolled in a Medicare plan, like deductibles and copays. So you’ll need to see what your total costs look like.
Also keep in mind that different Medicare Advantage plans come with different benefits. Some plans, for example, will pay for a gym membership. Others might offer you meal delivery if you have a medical condition that warrants it. Some of these extra benefits could save you money in other ways, so it’s important to factor them in.
5. Understand how Medicare’s Plan Finder works
If you’re not sure how to start comparing Medicare plans, there’s a simple answer. Medicare has a Plan Finder tool on its site that’s easy to use.
Just enter some basic information to get started, like your ZIP code and the type of plan you’re looking for (such as Part D vs. Medicare Advantage). From there, you’ll be able to enter your current prescriptions so you can get personalized recommendations.
Once you get a list, you can take a look at each plan’s details to see what it entails. You can also see how highly rated or not each plan is.
Medicare uses a star ratings systems of one to five, which five stars being the best. If a plan has five stars, it tends to mean that enrollees are happy with their coverage and quality of care.
However, you shouldn’t just choose a plan because it has five stars. Look at all of the details to make sure it’s the right plan for you.
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