Here’s a habit that quietly saves Medicare beneficiaries money every year: a yearly plan review. It takes an afternoon, and it’s the difference between coverage that still fits and coverage that’s slowly drifted away from your needs. Here’s how to review your Medicare plan before AEP — and why it’s worth doing every single year.
Why Yearly? Because Everything Changes
The reason to review annually is simple: plans change, and so do you. Each year, your Medicare plan can adjust its premium, its drug formulary, its provider network, and its benefits. Meanwhile, your health, your medications, and your doctors may change too. A plan that was a perfect match last year can quietly become a poor fit — without you doing anything. The only way to catch that is to look.
Step 1: Read Your ANOC
Every fall, before AEP, your plan mails an Annual Notice of Change (ANOC). It lays out exactly what’s changing for the coming year. This is your starting point. Don’t set it aside — it’s the single most useful document for deciding whether to keep or switch your plan.
Step 2: Check Your Medications
Drug coverage is where costs shift the most. Look at whether your prescriptions are still covered, and at what tier — a medication moving to a higher tier can raise your costs meaningfully. If you’ve started or stopped any medications this year, that alone can change which plan is best for you.
Step 3: Confirm Your Doctors and Pharmacies
Networks change. Verify that your doctors are still in-network and that your preferred pharmacy still offers the best pricing under your plan. Losing an in-network doctor or a preferred pharmacy is a common reason to switch.
Step 4: Add Up Your Real Costs
Look past the premium alone. Consider your total out-of-pocket picture — premium, deductibles, copays, and coinsurance based on how you actually use care. A plan with a low premium but high cost-sharing on your specific needs may cost more overall than a slightly pricier plan that covers you better.
Step 5: Compare Before You Decide
Once you know what’s changing, compare your plan against the alternatives available for next year. Sometimes the review confirms you should stay put — and that’s a perfectly good outcome. Other times it reveals a better fit. Either way, you’ve made an informed choice instead of defaulting into changes you didn’t pick.
Do It Before December 7
Medicare’s Annual Enrollment Period ends December 7, and changes take effect January 1. Reviewing early in the fall — right after your ANOC arrives — gives you room to decide without racing the deadline.
Get a Free Second Opinion
A licensed independent agent can run this review with you, checking your drugs, doctors, and costs against other plans at no charge. Review your Medicare options or call Maher Insurance Group at (866) 220-2834. We’re a licensed independent brokerage in Fort Lauderdale with more than 1,199 five-star Google reviews.
We are not connected with or endorsed by the U.S. government or the federal Medicare program. We are a licensed insurance agency; a licensed agent may contact you.
Frequently Asked Questions
Why should I review my Medicare plan every year?
Medicare plans change every year — premiums, drug formularies, provider networks, and benefits can all shift. Your own health and medications change too. Reviewing annually during AEP makes sure your plan still fits, so you’re not overpaying or stuck with coverage that no longer matches your needs. Even a plan that was perfect last year may not be this year.
What should I look at when reviewing my Medicare plan?
Focus on a few things: your premium and out-of-pocket costs, whether your medications are still covered and at what tier, whether your doctors and preferred pharmacies are still in-network, and any changes listed in your plan’s Annual Notice of Change. Comparing these against other available plans shows whether you should switch.
What is the Annual Notice of Change (ANOC)?
The ANOC is a document your Medicare plan mails each fall, before AEP, describing how your plan will change for the coming year. It covers changes to premiums, benefits, drug coverage, and costs. Reading it is the starting point for any plan review, because it tells you exactly what’s different heading into next year.
When is the best time to review my Medicare plan?
The ideal time is in the fall, once you receive your Annual Notice of Change and before Medicare’s Annual Enrollment Period ends on December 7. Reviewing early in that window gives you time to compare options and make a change without rushing against the deadline.
Can someone help me review my Medicare plan for free?
Yes. A licensed independent agent can review your current plan, check that your medications and doctors are still covered, and compare it against alternatives — typically at no cost to you. Getting a second set of eyes before AEP ends can help you avoid overpaying or losing coverage you rely on.
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