Medicare Open Enrollment Is Underway: Have You Reviewed Your Coverage Yet?

Medicare Open Enrollment is now underway, giving Medicare beneficiaries an opportunity to review their health and prescription drug coverage and make changes for the coming year. While many people stay with the same plan year after year, Medicare coverage is not something you can afford to set on autopilot. Premiums, copays, provider networks, prescription drug formularies, and supplemental benefits can all change from year to year. Taking time to review your coverage now may help you avoid unexpected healthcare costs and ensure your plan continues to support both your healthcare needs and your retirement goals.

What Is Medicare Open Enrollment?

The annual Medicare Open Enrollment period runs from October 15 through December 7 each year. During this time, individuals already enrolled in Medicare can review their coverage and make changes that will take effect on January 1. Because Medicare Advantage and Part D prescription drug plans can change costs, provider networks, covered medications, and benefits annually, Open Enrollment provides an important opportunity to determine whether your current coverage remains the best fit.

Key Dates to Remember

• October 15: Open Enrollment began.
• December 7: Deadline to make changes to Medicare coverage for next year.
• January 1: New coverage and plan changes become effective.

If you haven't reviewed your Medicare coverage yet, there is still time, but the enrollment window closes on December 7.

What Should You Be Reviewing Right Now?

If you haven't reviewed your Medicare coverage yet, now is the time to do so. Consider gathering:

• A current list of prescription medications
• Names of preferred doctors and specialists
• Information about your current Medicare plan
• Your Annual Notice of Change (ANOC)
• Any changes to your healthcare needs during the past year

These materials can help you evaluate whether your current plan remains competitive and whether another option may provide better coverage, lower costs, or additional benefits next year.

How We Can Help

Evaluating Medicare options can feel overwhelming, especially when plan benefits, provider networks, and prescription drug coverage change from year to year. At JT Stratford, we believe healthcare decisions should be viewed within the broader context of your retirement plan. Medicare premiums, prescription drug costs, and out-of-pocket healthcare expenses can have a meaningful impact on retirement cash flow and long-term financial planning.

Whether you're reviewing your current coverage, considering a plan change, or simply looking for a second opinion, we're here to help you better understand your options and make informed decisions.

Medicare Open Enrollment is already underway and ends on December 7. If you haven't reviewed your coverage for next year, now is the time to get started. Contact JT Stratford to schedule a conversation and ensure your healthcare coverage remains aligned with your retirement goals.

Important Disclosure: JT Stratford, LLC is an SEC-registered investment adviser. This content is provided for informational and educational purposes only and should not be considered individualized financial, insurance, or Medicare advice. JT Stratford is not affiliated with or endorsed by Medicare, CMS, or the federal government. Medicare plan availability, benefits, costs, and eligibility requirements vary. For information about specific Medicare coverage options, visit Medicare.gov or consult a qualified Medicare insurance professional.