Your Annual Enrollment Period plan review, step by step

Every September, Medicare Advantage and Part D members receive a document called the Annual Notice of Change. Most people put it in a drawer. That is understandable, it is long and dry, but it describes exactly how your plan will be different on January 1. A 20-minute review can save hundreds of dollars.

Step 1: Check your premium and out-of-pocket maximum

Look for the summary table near the front. Compare this year's monthly premium, medical deductible, drug deductible and maximum out-of-pocket amount with next year's. Circle anything that increased.

Step 2: Confirm your doctors and hospitals

Networks change. Call your primary care office and each specialist and ask a specific question: will you be in network for this exact plan name next year? Front desks hear this question often in October and November.

Step 3: Rerun your prescriptions

Drug formularies change every year. A medication can move to a higher tier, require prior authorization, or be removed entirely. Look up each of your drugs in next year's formulary, or send your list to us and we will run it across every plan we offer.

• Check the tier for each drug and the copay at your pharmacy.
• Look for new prior authorization or step therapy requirements.
• Compare preferred pharmacy and mail-order pricing.

Step 4: Review extra benefits you actually use

Dental allowances, eyewear allowances, OTC credits and fitness benefits change too. If you rely on your plan for a crown next spring or new hearing aids, make sure the allowance still covers what you need.

Step 5: Compare, then decide by December 7

If your plan still fits, you do not need to do anything. It renews automatically. If something important changed, compare alternatives before December 7. Any change you make starts January 1.

Supplement members do not receive an Annual Notice of Change for their Medigap policy, but they should still review their Part D plan each year, and consider whether their Supplement premium has risen enough to shop carriers.

What we do for our clients

Every October our team calls existing clients to schedule a review. We compare your current plan with what else is available in your county, using your doctors and drugs, and we give you a written summary. If staying put is the best choice, we tell you that. There is never a cost for the review, and there is never pressure to switch.

Not a client yet? You are welcome to book a review too. Bring your Annual Notice of Change and your medication list, and we will take it from there.