Already on Medicare? Here’s the One Thing You Must Do This Fall

If you’re already enrolled in Medicare, there’s one critical thing you need to do each fall — and skipping it could cost you thousands.

Every year from October 15 through December 7, Medicare opens its Annual Enrollment Period. This is your chance to review and make changes to your Medicare Part D prescription plan or Medicare Advantage plan for the upcoming year.

Many people ignore this window — and that’s where costly mistakes happen.

The Documents You Need to Review

By now, you should have received two important documents in the mail:

• Annual Notice of Changes (ANOC)

• Evidence of Coverage (EOC)

These documents explain what’s changing in your plan for the upcoming year — and those changes can be significant. You might see:

• Increases in premiums or deductibles

• Medications or pharmacies being dropped

• Changes to co-pays

• Your doctor no longer accepting the plan

• Your plan terminating for the new year

If you assume your plan will work next year just because it worked this year, you may be in for an expensive surprise.

Real Savings from a Simple Review

Last year, about 60% of our clients changed their Part D plan during this window — and many saved over $2,000 just for that year.

It doesn’t take much to make a big difference. A drug added or dropped, a small premium increase, or a pharmacy change could quietly raise your costs unless you catch it early.

A Cautionary Tale: When a Change Backfires

We recently worked with a couple, Pat and Debbie, who switched from Original Medicare to Medicare Advantage after a friend told them it would be cheaper. The plan promised $0 premiums and included perks like dental, vision, and a gym membership.

But once they enrolled, they learned that their doctors didn’t accept the new plan. They ended up paying more out of pocket and were stuck with a plan they couldn’t easily switch back from.

It’s a painful example of why Medicare decisions shouldn’t be rushed or based on ads, perks, or hearsay.

What This Doesn’t Apply To

If you’re still working and not yet on Medicare, this doesn’t apply to you — yet.

And if you have a Medicare Supplement plan (Medigap), those plans typically don’t change during this period. But if you’re enrolled in Part D or Medicare Advantage, this is your time to act.

Your Next Step

Don’t leave your Medicare plan on autopilot. Take 30 minutes to review your changes — or let us help.