Medicare open enrollment runs from October through December. During this time, people who are already covered by Medicare have the opportunity to make changes to their plan’s benefits.  

If you’re thinking about adjusting your coverage this year, it’s in your best interest to understand how the process works so you can avoid costly mistakes. Here are the six most common mistakes you should avoid this season.  

1. Not Knowing What You Can Change  

One thing many beneficiaries often learn the hard way about Medicare is that its health and drug plans can change throughout the year. In some cases, these changes can make it more expensive to see a doctor or take your prescriptions. Medicare Open Enrollment gives you a chance to change your benefits for next year, so you have the coverage you need at a reasonable price.  

You can choose a new Medicare Advantage or Medicare Part D plan, for example. Medicare Advantage plans are offered by private companies that contract with Medicare to provide you with Medicare Part A and B benefits. Once you have a Medicare Advantage plan, you can only change your coverage during an open enrollment period. These plans are designed to cover most Medicare services (including hospital and physician services); many also include a prescription-drug component. Medicare Part D only covers prescription drugs. 

If you are already enrolled in a Medicare Advantage plan, you can use Open Enrollment to switch to another Advantage plan or Medicare Original. The original Medicare plan is run directly by the federal government, and your out-of-pocket costs are determined based on Part A, Part B, or both coverage. Most prescription drugs aren’t covered by the original Medicare, so if you’re switching, you’ll need to enroll in Part D at the same time. It’s also best to enroll in supplemental Medicare insurance at this time. 

2. Not understanding the difference between Original Medicare and Medicare Advantage. 

With Original Medicare, you pay a monthly premium for Part B coverage; Part A coverage is generally premium-free if you or your spouse paid health insurance taxes while you were working. You can visit virtually any doctor or specialist you like (as long as they have Medicare) and your claims are usually filed for you. Medicare Advantage is a different story. Your monthly costs, co-pay, and deductible vary based on the fees charged by the plan. You are also limited to visiting doctors, hospitals, and specialists who are part of the plan’s network. 

 3. Not Reviewing Your Doctors for 2023 

As a Medicare Advantage plan holder, you probably understand that you must get your medical care from doctors that are in your plan’s network. What you may not know is that these plans can change at any time. This is why you should review your plan to make sure that your doctors of choice will still be in that plan’s network the following year.   

When your doctors change plans, they always don’t update these changes on their websites or public records, so you may need to follow up with your health service providers via a call or personal visit.  

4. Not all Doctors will take Your PPO Plan.   

If you want to see a doctor outside your plan’s network, you can take advantage of A preferred provider organization (PPO), at a slightly higher cost. The mistake many people make is thinking since they have a Medicare Advantage PPO, they can see any doctor. Not all providers have out-of-network plans, and not all of them will accept offering this coverage. Consider choosing Original Medicare with Medicare Supplement Insurance or Medigap as an alternative to PPO.  

  5. Failing to Compare Prescription drug plans  

Always take advantage of Medicare Open Enrollment by comparing available prescription drug plans. Whether you’re enrolled in Medicare Advantage or Original Medicare, understand that your provider can change what they cover each year. You may also notice that your current prescription will cost more in 2023 or there may be a similar but cheaper prescription plan from another provider. 

The easiest way to compare plans is by plugging your drugs into Medicare.gov and comparing suggested plans. You can also access your medical history once you log into Medicare.gov which makes it even easier.  

6. Letting the Commercials Trick you.  

During the Medical Open enrollment period, you will be bombarded by lots of commercials with enticing offers. For instance, some Medicare Advantage plans may offer vision, dental and hearing care, and others even promise premium-free plans.   

When shopping for your medical coverage, focus on the key areas that you want to be covered, and give the least priority to side benefits. In many cases, most of these plans will offer very limited hearing, vision, or dental coverage, which is why that should not be the basis to change your provider.  

Bonus Tip: Not Seeking Help or Waiting for Too Long.    

While Medicare open enrollment ends Dec. 7 this year, you don’t have to wait until the last week to do your market research. You can get help from State Health Insurance Assistance Program if you need any clarifications, but they tend to get busy later in that enrollment period.  

The Bottom Line 

The worst thing you can do during Open Enrollment is getting frustrated and mindlessly choose a plan. The best way to avoid this is to put Open Enrollment on your calendar every year, so you have plenty of time to prepare. The more you think about your health insurance needs, the more likely you are to end up with a plan that will save you the most in the long run. And of course, avoid the above common mistakes.