Your insurance company will send you an Annual Notice of Change (ANOC) in September, whether there are changes or no changes to your current plan for the next plan year. This letter will detail the changes in coverage, cost, service area, and benefits that will take effect in January. If these changes no longer meet your needs, you can shop for a new plan during the Annual Enrollment Period from Oct 15 – Dec 7. 

No, prescription drug coverage isn’t required. However, if you don’t have creditable prescription drug coverage (coverage that’s at least as good as Medicare’s) and you don’t enroll when you’re first eligible, you may have to pay a late enrollment penalty if you enroll later.   

You can get prescription drug coverage through a stand-alone Medicare drug plan (Part D) or a Medicare Advantage plan that includes drug coverage, offered by private insurance companies.

To help manage costs, Medicare Advantage plans usually enter contracts with a network of doctors and hospitals. That means you’ll generally pay less when you receive care from doctors and specialists who accept your plan. Some plans have large networks of approved doctors and hospitals, so be sure to check if yours are covered on the plan before you enroll. If you choose an HMO plan, you may need a referral to use an in-network specialist, but generally referrals should not be required on PPO plans.

If you want to switch to a different Medicare Advantage or Prescription Drug plan, you’ll be able to make that change during the Annual Enrollment period each year from October 15 to December 7. You can also make a one-time change to your Medicare Advantage Plan during the Medicare Advantage Open Enrollment Period from January 1st to March 31st. Please note that you cannot enroll for the first time during Medicare Advantage Open Enrollment period, but you may during Annual Enrollment. Outside of those windows, you’ll need to have a qualifying life event to be eligible for a Special Enrollment Period to make a change. 

Medicare Advantage Prescription Drug plans may be ideal for people who want an all-in-one plan that will cover their health and prescription needs in one. There are many Medicare Advantage Prescription Drug plans to choose from, so enrollees can ensure they choose the one that covers added benefits and services they need to help maintain their health and stay within their budget. 

No, if your plan is still offered for the upcoming year, you don’t have to do anything to keep your current coverage. As long as you remain eligible, your plan will automatically renew each year. However, plan costs and benefits may change annually, so it’s important to review any notices your plan sends you.