How Often Should Seniors Review Their Medicare Plan?
Seniors should review their Medicare coverage at least once every year. Even when a plan worked well previously, premiums, prescription coverage, provider networks, copayments, and extra benefits may change for the following year.
An annual Medicare plan review can help older adults avoid unexpected expenses and make sure their coverage still fits their healthcare needs.
When Is the Best Time to Review Medicare Coverage?
Medicare Open Enrollment takes place each year from October 15 through December 7. During this period, eligible individuals may switch Medicare Advantage plans, change prescription drug plans, return to Original Medicare, or select different coverage. Changes generally begin January 1.
Medicare plans send members an Annual Notice of Change each fall. This document explains upcoming changes to costs, benefits, and coverage. Seniors should read it carefully instead of assuming their plan will remain the same.
What Should Seniors Review?
When comparing coverage, check:
Monthly premiums and annual deductibles
Copayments and coinsurance
Prescription drug coverage and costs
Whether preferred doctors remain in the network
Whether the preferred pharmacy is included
Dental, vision, hearing, and transportation benefits
Prior authorization and referral requirements
Estimated yearly healthcare expenses
Medicare recommends checking whether a plan covers current prescriptions, includes needed benefits, and keeps preferred doctors and pharmacies in its network.
When Else Should Coverage Be Reviewed?
Seniors should also review their plan after moving, receiving a new diagnosis, starting expensive medications, changing doctors, losing other insurance, or experiencing a major financial change. Certain events may qualify someone for a Special Enrollment Period.
The lowest premium is not always the least expensive option. Families should consider total expected costs, coverage, convenience, and access to trusted providers.
OCTICARE helps seniors and families explore reliable Medicare resources and community support throughout Chicago and the surrounding suburbs.
👉 Find Trusted Senior Resources and Support:
📞 Call or text: (224) 347-7210
