Millions of elderly Americans benefit from Medicare, but Medicare coverage isn’t all the same for everyone.

As someone enrolled in original Medicare, you can select your own prescription drug coverage or choose a Medicare Advantage plan which offers additional benefits beyond original Medicare.

You aren’t locked into your Medicare plan forever. Each fall, Medicare members have the opportunity to adjust their coverage during the open enrollment period, taking place from October 15 through December 7.

During this open enrollment, you can change your Part D plans, switch between Medicare Advantage plans, or revert to original Medicare. However, to make a knowledgeable decision, you must understand what will remain unchanged and what will be different in your current Medicare plan.

This is why it’s crucial to thoroughly examine your plan’s notice of change. Typically, these notices are sent out by September 30 to give Medicare beneficiaries a heads-up about their plans before the open enrollment period begins. If you’re receiving this letter for the first time, here are some important aspects to watch for.

1. Changes to your medication categories

If you participate in Medicare Part D, you probably know that these plans categorize medications into different tiers using formularies, which determine your out-of-pocket expenses.

A critical point in your notice of change is whether your current medications are being placed in a different tier. If one of your prescriptions is moved to a higher tier, you could face increased costs in 2025. On the other hand, if a medication is moved to a lower tier, you might benefit from reduced copays.

2. Changes to your Medicare Advantage benefits

Medicare Advantage plans often offer additional benefits beyond what original Medicare provides. It’s essential to check which benefits your plan will continue to offer in the upcoming year and which ones will be discontinued.

Your Medicare Advantage plan may also add new benefits for 2025, which is important to know. However, not every benefit may be available to all enrollees. If you notice new offerings, confirm that those benefits are ones you can access. Some may require specific health conditions for eligibility.

3. Changes to your Medicare Advantage network

A potential downside of Medicare Advantage is that it typically limits you to a particular network of healthcare providers, whereas original Medicare allows you more freedom to choose your doctors.

Be mindful of any changes to your provider network. If your primary reason for remaining with your Medicare Advantage plan is to keep seeing a specific doctor who’s going out of network in 2025, that could be a significant reason to change your coverage.

Regardless of your satisfaction with your current Medicare plan, it’s vital to read your notice of change attentively. This will prepare you for a successful open enrollment season this fall.

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