Medicare open registration error to be avoided at all costs Personal finance

2. Not to review changes to your existing coverage

Whether you are enrolled in Medicare Advantage or have a D-D plan, your plan must notify you of any changes it will implement for the coming year. Failure to read through these changes may cause you to make poor decisions when choosing your coverage.

Imagine that your current Part D plan pushes one of your prescriptions into a higher level, resulting in higher expense costs for you. If you do not read up on that change, you can assume that you are best off keeping your existing plan, when in fact, there may be a cheaper plan that categorizes your prescription more favorably.

In addition, you may be paying for a Medicare Advantage plan that offers a good set of additional benefits. But if some of these benefits disappear, the higher premium may not be worth it. Therefore, it is important that you read up on any changes that are coming down the pike.

3. Not to take medication changes into account

Maybe your part D plan does not change at all. But what if your medication has changed? You may no longer have the most appropriate plan for your specific needs.

If you have switched medications, this is a good time to compare Part D plans and see what coverage they offer. You may be saving money by moving to another plan.

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