Medicare Open Enrollment Ends Soon. 3 Moves to Make Before It’s Over

Healthcare tends to be a major expense for retirees, and the right Medicare plan could spell the difference between paying less or paying more. That’s why it’s so important to take advantage of Medicare’s annual fall open enrollment period.

Each year between October 15 and December 7, Medicare enrollees can make changes to their coverage. That could mean switching from one Part D drug plan to another, or choosing a new Medicare Advantage plan.

At this point, open enrollment is almost over. So if you haven’t gotten the ball rolling, now’s the time to get moving. Here are three must-make moves to tackle prior to December 7.

1. Review your current Medicare plan’s annual notice of change

You can’t be confident that your Medicare plan still works for you if you don’t read up on how it’s changing in the new year. It may be that your Medicare Advantage plan is dropping providers, or that your copays for certain medications are increasing.

Similarly, if you have a Part D drug plan, its formulary may be changing in the new year. That could leave you paying more for your prescriptions.

It’s important to figure out what changes are coming to your Medicare coverage so you can see if there’s a most cost-effective plan you can sign up for instead. If you never received your annual notice of change in the mail, contact your plan administrator immediately to request that information.  

2. Review your healthcare needs

It may be that your Medicare plan isn’t changing very much in the new year. But that doesn’t mean your healthcare needs are staying the same.

If you’ll be switching medications, there may be a plan that offers you less expensive copays. And if you’ve recently been diagnosed with a new health condition, there may be a Medicare Advantage plan that offers supplemental benefits that make it easier to manage. For example, with a diabetes diagnosis, an Advantage plan that offers meal services could be a game changer.

It pays to make a list of your current and expected prescriptions to explore different options for Part D coverage. And if you’re on Medicare Advantage, you may want to look at what benefits different plans offer to see if you can get access to extra perks that help you better manage your health.

3. Get help if you need it

Navigating Medicare’s plan options can be tricky. While Medicare does have a useful plan finder tool on its website that can help you compare your choices, you may find that you need outside assistance.

It could pay to find a licensed Medicare broker in your area who can help you find a new plan for 2026. You may also want to talk to a financial advisor and see if they have any guidance to offer. Or, they may be able to recommend someone trustworthy who can assist you in choosing a plan.

Medicare’s open enrollment period gives you an opportunity to choose coverage for the new year that could save you money while giving you access to better care. It’s an opportunity you don’t want to pass up, so make a point to tackle these important moves as soon as possible. With December 7 approaching, you can’t afford to wait.