Compare, Choose, Repeat. It’s Medicare Open Enrollment

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October 11, 2022

You don’t get that many do-overs in life, but every year, thanks to Open Enrollment, you have a shot at changing to a health insurance plan that you’ll actually like. It’s your chance to save money and improve your coverage.

Medicare health and drug plans can change year to year so it really pays to get out a calculator and run the numbers. You’ll want to shine a light on costs, coverage, and the providers and pharmacies in their networks.

Medicare Advantage plans are known for touting the simplicity of their arrangement: One plan gives you coverage for medication, as well as Medicare Parts A and B. You may want to switch to an Advantage plan, if you think that’s a better fit for you. But do know that Medicare supplement plans may provide more coverage.

Your best bet is to read and compare. Set aside time — you can spend hours using the comparison site at Medicare.gov — and decide what’s most important. It might be keeping the doctors you have relationships with; it might be getting the best plan for prescription drugs.

The annual period for changing Medicare plans is Oct. 15 through Dec. 7. Here’s an overview of Medicare open enrollment, and what’s changed this year for 2023 plans.

— Jill Cornfield, deputy editor

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