The short answer
Every fall during the Medicare Annual Enrollment Period, you have a window to review and change your Medicare Advantage or Part D drug plan, and it is worth doing even if you are happy, because plans change their costs, networks, formularies, and benefits each year. A plan that was the best fit last year may raise premiums, drop your drugs, or change its network for the coming year. Re-shopping annually ensures your coverage still matches your doctors, medications, and budget, and it can save meaningful money. Doing nothing risks being auto-renewed into a plan that no longer fits.
So reviewing your Medicare plan every fall matters because plans change annually, and re-shopping keeps your coverage aligned and can save money.
Why plans change each year
Insurers update their Medicare Advantage and Part D plans yearly, adjusting premiums, deductibles, drug formularies, preferred pharmacies, provider networks, and extra benefits. Because your own medications and doctors may also change, the plan that fit best can drift out of alignment. That is why comparing your current plan against other available options each fall is valuable. Our guide to switching Medicare Advantage plans during AEP covers making a change, and our AEP checklist helps you prepare.
Annual plan changes plus changes in your own care are what can make last year's best plan a poor fit this year.
How to do the review
Each fall, review the notice your plan sends about next year's changes, list your current doctors and medications, and compare your plan against other options on total cost, network, and drug coverage. Make any change during the Annual Enrollment Period so it takes effect January 1. A local licensed advisor can compare current plans against your needs at no cost. Our AEP checklist walks through the steps. This is educational information.
The takeaway: re-shop your Medicare plan every fall by comparing it against current options for your doctors, drugs, and budget, since plans change annually and doing nothing risks a poor fit.
Frequently Asked Questions
Why should I review my Medicare plan every year?
Because plans change their costs, networks, formularies, and benefits annually, a plan that fit last year may no longer match your doctors, drugs, and budget. Re-shopping each fall keeps coverage aligned and can save money.
When can I change my Medicare plan?
During the Medicare Annual Enrollment Period each fall, when you can review and change your Medicare Advantage or Part D plan for coverage effective January 1.
What happens if I do not review my Medicare plan?
You may be auto-renewed into a plan that changed for the coming year, potentially raising your costs or dropping your drugs or providers, so an annual review protects your coverage.
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