If you are already on Medicare insurance, the opportunity to change your insurance coverage(s) ends on December 7.
If you are on a Medicare Advantage HMO plan, remember to review your plan’s changes for 2015 and to check the drug formulary to ensure that all of your drugs are still in the formulary – confirming the tier and the cost. If your plan is discontinuing for 2015, make sure to check out your options for new coverage starting January 1st.
If you are on a Medicare supplement/medigap policy, they do not change with Annual Enrollment because the benefits are defined by Medicare; however, your stand-alone drug plan can change from year to year, so you want to confirm that all your prescription drugs are still on the formulary and at what tier and cost.
If you are on a Medicare supplement/medigap policy and stand alone drug plan, you may want to change to a Medicare Advantage plan. Annual enrollment is the time for you to evaluate your options, and if appropriate, make the change to be effective January 1st.