Every year, Medicare Open Enrollment gives retirees the opportunity to review their health coverage and make changes for the coming year. Yet many people simply let their current plan renew automatically without taking a closer look.

While staying with your current plan may still be the right choice, Medicare plans can change from year to year. Premiums, deductibles, prescription drug coverage, provider networks, and extra benefits may all be different than they were last year.

A little preparation before Open Enrollment begins can help you make informed decisions and avoid costly surprises.

1. Not Reviewing Your Current Coverage

One of the biggest mistakes retirees make is assuming that if their plan worked well this year, it will work the same next year.

Insurance companies can change costs, covered services, and provider networks each year. Even small changes in copayments or deductibles can add up over time.

Before Open Enrollment begins, take a few minutes to review:

• Your current Medicare plan
• Monthly premiums
• Out-of-pocket costs
• Extra benefits you actually use
• Any health care needs that have changed during the past year

Your health needs can change, and your Medicare coverage should continue to meet those needs.

2. Ignoring Your Annual Notice of Change

Each fall, Medicare Advantage and Part D prescription drug plans send members an Annual Notice of Change (ANOC).

Many retirees set this document aside without reading it.

The ANOC explains changes that will take effect on January 1, including:

• Monthly premiums
• Deductibles
• Copayments
• Prescription drug coverage
• Provider networks
• Additional benefits

Reading this document carefully can help you decide whether your current plan is still the best fit.

3. Forgetting to Compare Prescription Drug Costs

Even if your medications haven’t changed, your prescription drug costs might.

A medication that was inexpensive this year could move to a different pricing tier next year. Likewise, your preferred pharmacy may no longer offer the lowest cost.

Before Open Enrollment:

• Make a current list of your prescriptions.
• Review the pharmacies you use.
• Compare estimated costs under available plans.
• Ask whether lower-cost generic alternatives are available if appropriate.

Spending a little time comparing drug coverage can potentially reduce your annual out-of-pocket expenses.

4. Assuming Your Doctors Will Still Be In-Network

Many retirees develop trusted relationships with their physicians and specialists.

However, provider networks can change each year.

Before renewing your plan, verify that:

• Your primary care physician still participates.
• Your specialists remain in-network.
• Your preferred hospital is covered.
• Any new providers you may need are included.

Checking ahead can help prevent unexpected costs and avoid disruptions in your care.

5. Waiting Until the Last Minute

Open Enrollment only lasts for a limited time. Waiting until the final days can make it more difficult to compare options, ask questions, or gather the information you need.

Instead, start preparing early by:

• Organizing your Medicare documents.
• Making a list of current medications.
• Reviewing any health changes from the past year.
• Writing down questions you would like answered.
• Learning about available Medicare options before enrollment begins.

Being prepared allows you to make thoughtful decisions instead of rushed ones.

Learn More Before You Decide

Understanding Medicare doesn’t have to be overwhelming. The National Chrysler Retirement Organization is committed to providing members with reliable educational resources to help them navigate Medicare with confidence.

Whether you’re enrolling in Medicare for the first time or reviewing your current coverage, taking time to learn about your options can help you make informed decisions for the coming year.

We encourage all members to attend the upcoming Medicare 101 educational presentation and explore the NCRO’s Medicare resources available on the website. These resources are designed to explain Medicare in clear, easy-to-understand language and help you prepare for Open Enrollment with confidence.

Insurance Committee Reminder

This article is provided for educational purposes only and should not be considered insurance, financial, or legal advice. Individual Medicare needs vary, and members are encouraged to review their personal circumstances carefully before making coverage decisions. The NCRO does not endorse any specific Medicare plan or insurance provider. For personalized assistance, consult a licensed Medicare counselor or qualified insurance professional.