Medicare Open Enrollment: A Simple Checklist

Each year during Medicare's open enrollment window, you can change your coverage — yet many people let their plan auto-renew and end up overpaying for benefits they don't use. A short annual review can save real money. Here's a simple checklist.

1. Read your plan's "Annual Notice of Change"

Your plan mails this every fall. It spells out what's changing next year: premiums, deductibles, copays, covered drugs, and provider networks. Don't ignore it — this is where surprise cost increases hide.

2. Re-check your prescriptions

Drug formularies change every year. A medication that was cheap on your plan this year can jump tiers next year. Always confirm your current prescriptions are still covered affordably.

3. Confirm your doctors are in-network

If you're on a Medicare Advantage plan, networks can shift. Make sure your preferred doctors and hospitals are still included before you renew.

4. Compare total annual cost — not just premium

A low premium can hide high deductibles and copays. Add up premiums, expected copays, and prescription costs to compare plans on what you'll actually spend over the year.

5. Decide: Original Medicare vs. Advantage

• Original Medicare (often paired with a supplement and drug plan) offers broad provider choice.
• Medicare Advantage bundles coverage and often adds extras like dental or vision, usually with a network.

The right choice depends on your health needs, your doctors, and your budget — review it each year, not just once.

The bottom line

Treat open enrollment as a yearly checkup for your coverage. Spend 30 minutes reviewing your notice, your drugs, and your doctors — then compare a plan or two. It's one of the easiest ways for retirees to keep costs in check.