​7 Things to Review Before Medicare Annual Enrollment Begins

​Medicare Annual Enrollment runs from October 15 through December 7 each year. During this period, people with Medicare can review certain Medicare Advantage and Medicare Part D prescription drug coverage choices for the coming year.
But you do not have to wait until October 15 to start getting prepared.
Before Annual Enrollment begins, take some time to organize your Medicare information, review notices from your current plan, update your prescription list, and think about whether your healthcare needs have changed.
A little preparation can make it much easier to compare your current coverage with the choices available for the coming year.

​Why Review Your Medicare Coverage Every Year?

Your Medicare coverage may have worked well for you this year, but that does not necessarily mean everything will remain the same next year.
Medicare Advantage and Medicare Part D plans can make changes from one year to the next. Depending on your plan, changes could involve premiums, deductibles, copays, prescription drug coverage, pharmacy networks, healthcare provider networks or other plan benefits.
Your own situation can change, too. You may have a new doctor, a new prescription, a different dosage, a planned medical procedure or simply use healthcare differently than you did a year ago.
That is why an annual review should start with your needs, not simply with looking for another plan.
Here are seven things to review before Medicare Annual Enrollment begins.

​1. Read Your Annual Notice of Change

If you are enrolled in a Medicare Advantage or Medicare Part D plan, pay particular attention to your Annual Notice of Change (ANOC).
The ANOC explains important changes your current plan is making for the upcoming year. Do not simply file it away.
  • Monthly premiums
  • Deductibles
  • Copays and coinsurance
  • Prescription drug coverage
  • Provider or pharmacy networks
  • Plan benefits and cost sharing
Understanding what is changing with your current coverage gives you a starting point when it is time to compare your options for next year.

​2. Update Your Prescription Medication List

Prescription coverage can be one of the most important parts of an annual Medicare review.
Create an updated list that includes the following:
  • Medication name
  • Dosage
  • How often you take it
  • Brand-name or generic
  • Pharmacy you currently use
Do not rely on last year's list. Add new medications and remove prescriptions you no longer take. Medicare Part D plans can change their formularies, drug tiers, pharmacy arrangements and coverage requirements from one year to the next. Having an accurate medication list makes your annual comparison much more meaningful.

​3. Check Your Doctors and Healthcare Providers

Make a list of the healthcare professionals who are important to you.
  • Primary care physician
  • Cardiologist
  • Oncologist
  • Endocrinologist
  • Orthopedic specialist
  • Other specialists
  • Preferred clinics or medical groups
If you are considering a Medicare Advantage plan, do not assume that because your doctor participated with your coverage this year, everything will necessarily be identical next year. Provider participation can be an important part of comparing Medicare Advantage options. For many people, keeping particular doctors may be more important than finding the plan with the lowest premium.

​4. Review Your Hospitals and Healthcare Network

Doctors are not the only providers to consider. Think about where you actually receive healthcare.
For someone living in Southern Nevada, that could include preferred hospitals, outpatient facilities, urgent-care centers, laboratories, imaging facilities and specialty medical groups.
  • Which hospitals would I prefer to use?
  • Where do my doctors perform procedures?
  • Are there particular medical groups or healthcare systems I want access to?
  • Do I receive care outside Nevada during part of the year?
Your real-world healthcare habits should be part of your Medicare Advantage plan comparison.

​5. Compare Your Pharmacies and Prescription Costs

The pharmacy you use can make a difference.
A Medicare Part D or Medicare Advantage prescription drug plan may have different arrangements with different pharmacies. When reviewing coverage, do not look only at whether your medication is covered. Also consider where you obtain it.
  • Compare your preferred local pharmacy
  • Check other available pharmacy options
  • Review mail-order options when appropriate
Under the same plan, prescription costs can vary depending on the pharmacy and the plan's pharmacy arrangements. That makes pharmacy review an important part of comparing drug coverage

​6. Look at Total Costs - Not Just the Monthly Premium

A low monthly premium can certainly be attractive. But the premium is only one part of Medicare plan costs.
  • Deductibles
  • Primary care copays
  • Specialist copays
  • Hospital costs
  • Outpatient services
  • Prescription drug costs
  • Coinsurance
  • Maximum out-of-pocket exposure
For prescription coverage, look at the estimated total annual cost of your medications, not simply the drug plan's monthly premium. The goal is not necessarily to find the plan with the lowest premium. The goal is to understand the combination of coverage, access and costs that may work for your situation

​7. Decide Whether Your Current Medicare Coverage Still Fits Your Needs

Annual Enrollment does not mean everyone needs to change Medicare plans. Sometimes an annual review confirms that your current coverage continues to meet your needs. That is a perfectly reasonable outcome.
The important distinction is between keeping your plan after reviewing it and automatically keeping your plan without reviewing what is changing.
  • Have my medications changed?
  • Have my doctors changed?
  • Have my healthcare needs changed?
  • Has my current plan announced changes for next year?
  • Are my preferred doctors, hospitals and pharmacies important to my decision?
  • Do I understand what my coverage will look like next year?
If you can answer those questions, you are much better prepared when Medicare Annual Enrollment begins.

​A Special Note About Medicare Supplement Insurance in Nevada

Medicare Annual Enrollment is primarily an important annual decision period for Medicare Advantage and Medicare Part D prescription drug coverage.
Do not assume that October 15 through December 7 automatically gives you a new guaranteed right to change a Medicare Supplement (Medigap) policy.
Nevada has a separate Medicare Supplement Birthday Rule that may provide an important opportunity for eligible existing Medigap policyholders to compare certain Medicare Supplement options without medical underwriting.

​Medicare Annual Enrollment Help in Las Vegas and Nevada

Preparing ahead can make Medicare Annual Enrollment much easier. Before comparing plans, gather:
  • Your Medicare card
  • Current insurance plan information
  • Annual Notice of Change
  • Complete prescription medication list
  • Preferred pharmacies
  • Doctors and specialists
  • Preferred hospitals and healthcare facilities
Medicare in Las Vegas helps Medicare-eligible Nevadans review Medicare Advantage and Medicare Part D prescription drug plan options and understand how different choices may work with their doctors, prescriptions, healthcare needs and budget.
​Schedule a Medicare Annual Plan Review

David Karel
Nevada Licensed Insurance Agent
702-403-6348 (TTY: 711)