It’s That Time Again: Reviewing Your Medicare Plan Before It’s Too Late
It’s That Time Again: Reviewing Your Medicare Plan Before It’s Too Late
Would you renew your car insurance without checking if your rate went up or your coverage changed? Probably not. Yet every fall, millions of Medicare beneficiaries do exactly that — automatically renewing their current plan without reviewing what’s new for the year ahead.
Medicare’s Annual Enrollment Period runs from October 15 through December 7, and it’s the only time most people can switch plans or make adjustments for the upcoming year. Failing to review your coverage now could mean paying more, losing access to your preferred doctors, or missing out on valuable new benefits starting January 1, 2026.
Each fall, your plan mails a document called the Annual Notice of Change (ANOC). This letter deserves more than a glance — it details how your premiums, copayments, drug coverage, and provider networks will change in the coming year. Even small adjustments can add up to hundreds of dollars in extra out-of-pocket costs.
Drug Coverage: Hidden Shifts That Matter
Prescription drug coverage is one of the most common reasons beneficiaries switch plans. Drug formularies — the list of covered medications — change every year. A medication that was Tier 2 this year could move to Tier 3 next year, increasing your cost significantly.
The Medicare.gov Plan Finder tool allows you to enter your medications and compare plans side by side. You can also consult a licensed agent or a State Health Insurance Assistance Program (SHIP) counselor for unbiased help. A few minutes of comparison can uncover substantial savings.
Network and Provider Changes
Doctors, pharmacies, and hospitals can enter or leave a plan’s network at any time. If you prefer certain providers, confirm they’ll remain in your plan’s network next year. Losing your doctor midyear can be frustrating and costly — especially if you require ongoing specialist care.
Don’t Overlook Supplemental Benefits
Some Medicare Advantage plans now offer expanded dental, vision, hearing, or wellness benefits. For 2026, several plans are adding enhanced preventive dental care and telehealth mental wellness options. These extras can make a real difference in both cost and quality of life.
Your To-Do List Before December 7
- Read your Annual Notice of Change carefully.
- Compare your current plan with others in your area.
- Confirm your doctors and prescriptions are still covered.
- Decide and enroll before the deadline — because doing nothing is a choice, and often an expensive one. Review your Medicare Plan before it is too late.
My best to you and yours,
Bren Sheriff, CSA
THIS WEEK’S QUIZ: What document mailed each fall explains changes in your Medicare plan for the coming year?
Answer to the last quiz: Yes, Social Security pays a death benefit, but there are specific stipulations to become a designated beneficiary.
For Questions or Help: 773-817-0601 or basheriff1@gmail.com
Disclaimer: The illustrations presented in this column are not, nor are they intended to be, legal, financial, or any other licensed professional advice, you should contact the licensed professional of your choice for advice on your individual situation.
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