Medicare’s Open Enrollment runs October 15 through December 7. Advisors say the costliest mistakes surface in January.
Skipping the Annual Notice of Change
Every September, your plan mails an Annual Notice of Change listing next year’s premiums, copays, and drug coverage. AARP urges beneficiaries to read it closely, since plans can raise costs or trim benefits yearly.
Ignoring Part D Formulary Changes
The covered-drug list, called the formulary, can change yearly, and a medication covered now may move to a costlier tier or vanish. Medicare experts recommend checking your prescriptions against next year’s formulary before assuming costs will hold.
Forgetting the Pharmacy Network
Plans often cover drugs only at certain pharmacies, and preferred pharmacies usually mean lower copays. AARP notes that straying out of network can quietly double what you pay, so confirm your pharmacy is still covered.
Overlooking Dental and Vision Add-Ons
Original Medicare skips routine dental and vision, but many Medicare Advantage plans include them with very different limits. Advisors suggest comparing annual maximums, since a low dental cap can still leave big bills.
Disregarding Star Ratings
Medicare rates plans one to five stars on quality and satisfaction, and low ratings often signal real service trouble. Experts recommend weighing stars alongside cost, because cheap premiums turn expensive when a plan fights claims.
Sources: Medicare.gov, AARP
