Medicare Open Enrollment: How to Prepare

Your Chance to Enroll or Change Medicare Advantage Plans

The Open Enrollment Period (OEP) for Medicare is coming this fall. Now’s the time to review your current health insurance coverage and decide whether you will change your Medicare Advantage plan for next year.

Here’s how to get started:

What’s Medicare Open Enrollment?

The annual Medicare OEP runs from October 15 to December 7. It’s the annual opportunity to modify your health care coverage for the coming year. You can join, switch or drop Medicare Advantage and Medicare Part D drug plans.

The choices you make during the Medicare Open Enrollment could save or cost you hundreds of dollars in out-of-pocket expenses and, perhaps, impact your health.

Reviewing Medicare’s Annual Notice of Change

Medicare Advantage plans change annually, so it’s essential to reevaluate how the plan aligns with your evolving health and wellness needs. By September 20, the current plan will send you a Medicare Annual Notice of Change (ANOC) by mail. The document summarizes changes in your plan’s cost and coverage in the coming year.

When reviewing your ANOC, factors to consider are:

• Premium. Will you pay more, less or the same amount each month for your current plan?
• Deductible. Will the amount you have to pay out-of-pocket before your coverage kicks in increase, decrease or stay the same?
• Maximum out-of-pocket cost. Will there be a change to the maximum amount you’ll have to pay before your plan starts to cover all costs?
• Copayment or coinsurance. Will the amount you have to pay out-of-pocket for each service change or remain the same?
• Network. Are there changes in the network regarding providers, facilities and pharmacies?
• Drug coverage. If you have Medicare Part D, ask if any of your medications need to be added or removed from your plan’s drug list. Will the price of certain drugs change and can you expect to pay more?
• Other changes. Will new services (like vision or hearing aids) be covered or will previous services end?

This Annual Notice of Change is an important document that can help you determine if your current Medicare plan is still right for your needs, lifestyle and budget.

Assessing your health insurance coverage

Think about your healthcare needs over the past year to decide if your plan will continue to meet your needs.

Determine if the plan covers the providers and services you need. This includes preferred doctors, specialists, treatments and supplemental benefits. When shopping for Medicare Advantage plans, ensure you understand the limitations on each benefit.

If you take prescription medications, you want a plan that covers all the drugs you think you will need in the next year. Learn about any restrictions, such as quantity limits, or whether your drugs require prior approval from the plan.

Consider the out-of-pocket costs you will pay when you visit a doctor, require a hospital stay or pick up prescriptions at the pharmacy. Most Medicare Advantage plans have an annual out-of-pocket maximum but prescription drug costs may not be included.

Need help choosing a Medicare Advantage plan?

For help understanding your Medicare Advantage options and how to save money, contact your local State Health Insurance Assistance Program (SHIP) by calling 877-839-2675 or visiting their website. SHIP uses trained volunteers to offer trusted, unbiased Medicare Advantage counseling.

You can also compare coverage options and shop for plans using the Medicare Plan Finder or call 1-800-MEDICARE (TTY 1-877-486-2048) to talk with a customer support representative.

Get Ready for Medicare’s Special Enrollment Period

Start browsing plans early and reach out if you have questions about which plan is best for you. If you miss Open Enrollment, you may be eligible for a Medicare Special Enrollment period to avoid late penalties.

Enroll in a Prominence Medicare Advantage plan

Call 866-747-8855 to join a Prominence Medicare Advantage plan during an enrollment period. The provider network presently offers members access to quality medical services in Florida, Nevada and Texas.

Enroll online →

* All benefits not available on all plans