Our Medicare Annual Enrollment Checklist helps you choose the best Medicare plan to meet your unique needs and budget. The Annual Enrollment Period (AEP) occurs every year between October 15 and December 7.
Your list should include all healthcare providers you currently use: Doctors (both primary care physician and specialists), hospitals, clinics, labs, nursing homes, pharmacies, medical equipment suppliers, and anyone else you rely on for medical treatment.
List all prescription medications you take, including dosage.
Make a note of any procedures your doctor recommends for the coming year. Other changes may be a chronic condition worsening (or improving), losing or gaining secondary coverage, and whether you plan to move.
Medicare requires all plan providers to send beneficiaries an Annual Notice of Change (ANOC). If you have a Medicare Advantage (MA) or Part D plan, you should receive this document before AEP begins. The ANOC lists plan changes for the coming year, including costs, network, service area, and coverage. It is one of the most important healthcare documents you’ll receive every year. Plans nearly always have changes from year to year. Costs, provider networks, service areas, and drug formularies are the most likely areas for changes.
At the same time that you receive the Annual Notice of Change..ANOC, you should also receive the EOC: Evidence of Coverage. This document offers greater detail regarding plan changes scheduled for the coming year.
Comparing the ANOC and the EOC to the provider and prescription lists you created earlier lets you know whether your current coverage will still meet your needs next year. These documents represent the only communication you’ll receive about plan changes, so do not ignore them.
Questions to ask about your plan include:
Refer to the lists you created in the first three steps to answer these questions.
You can expect costs to change every year – and not always for the worse. Many MA plans see cost reductions from year to year. At the same time, your budget requirements may have changed. Consider the full cost of the plan, not just the monthly premium. Deductibles, co-pays, and co-insurance all play a role in total plan cost. In addition, look at your plan’s maximum out-of-pocket spending for the year.
Your plan may look good on paper but not so great in practice. Consider the following to rate your Medicare plan satisfaction:
The real question, though, may be this: Would you recommend your plan to a friend? If the answer is “No,” it may be time to look at other options.
Even if your current plan meets your needs, it’s always a good idea to compare your plan options. That’s because ALL plans change every year, not just yours.
