Medicare open enrollment

The 15-minute Medicare check most people skip

Open enrollment ends December 7. Here is the one thing to look at.

Medicare open enrollment runs from October 15 to December 7. If you or someone you help is on Medicare, this is the one window each year to switch drug plans or Medicare Advantage plans without a special reason. Changes take effect January 1.

The 15-minute check

1. Find your "Annual Notice of Change." Your plan mails it by the end of September. It lists what's changing next year.
2. List every prescription you take, with the dose.
3. Compare plans on Medicare.gov. Use the "Find health & drug plans" tool, enter those drugs, and compare your current plan's total yearly cost against two or three others.

Drug plans change their covered drugs, prices, and pharmacy networks every year, so last year's cheapest plan often isn't this year's. Part D also has a yearly cap on out-of-pocket drug costs now, so it's worth seeing how each plan's costs add up for you.

Compare plans on Medicare.gov

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The Nest Egg Brief team