3 Things 10-13-25

 Thing One

A Medicare Open Enrollment Primer

Medicare Open Enrollment, which runs from October 15 to December 7 each year, is your opportunity to review and change your health coverage for the coming year. Even if you’re satisfied with your current plan, it’s important to review your options — plans change their premiums, coverage, and provider networks annually. During this period, you can switch between Original Medicare (Parts A and B) and Medicare Advantage (Part C), change or drop a Part D prescription drug plan, or move between different Medicare Advantage plans. Any changes you make will take effect on January 1 of the following year.

One of the first things to check is how your current coverage is performing. Review your “Annual Notice of Change” (ANOC) letter from your plan provider — it outlines updates in premiums, drug formularies, copays, and coverage rules. Many people discover that their medications will cost more or that their doctors are no longer in-network next year. If you find that your plan’s costs or benefits are changing significantly, it’s a good signal to shop around for alternatives using Medicare’s Plan Finder tool (or a qualified agent like me).

Another critical factor is understanding how the different Medicare parts interact. Original Medicare (Parts A and B) covers hospital and medical services but doesn’t include most prescription drugs, dental, vision, or hearing care. To fill those gaps, you might buy a Medigap (Supplemental) policy and a separate Part D drug plan. Medicare Advantage (Part C), by contrast, bundles hospital, medical, and often drug coverage — sometimes adding extras like dental or gym memberships. But Advantage plans may limit you to certain doctors or regions, so you’ll need to balance convenience with flexibility.

It’s also important to pay attention to total costs, not just premiums. A plan with a low monthly premium might have higher deductibles, coinsurance, or out-of-pocket maximums that make it more expensive overall. Check how much you’ll actually pay for your prescriptions and routine care. If you travel often or live in multiple states, confirm that your plan covers services outside your primary area — some Advantage plans have tight local networks that could cost you if you need care away from home.

Finally, consider timing and assistance. If you miss the Open Enrollment window, you’ll have to wait until the next cycle unless you qualify for a special enrollment period (for example, due to moving or losing other coverage). Free, unbiased help is available through your State Health Insurance Assistance Program (SHIP) and the official Medicare helpline.

Taking time to compare and ask questions now can prevent unpleasant surprises — or unnecessary expenses — later in the year.

In short, going into Medicare Open Enrollment, you should understand your current plan’s changes, compare total costs and coverage options, verify your doctors and prescriptions are included, and act before the deadline. With a little preparation and attention, you can ensure your healthcare coverage fits both your health needs and your budget for the year ahead.

Thing Two  

Medicare Mistakes Can Cost You

Here are the five most costly mistakes people commonly make when enrolling in Medicare — each can lead to higher out-of-pocket costs, coverage gaps, or penalties that last for years:

Missing the Initial Enrollment Deadline

Failing to sign up for Medicare during your Initial Enrollment Period (IEP) — the seven-month window around your 65th birthday — can trigger lifetime penalties. If you delay Part B (medical coverage) or Part D (prescription coverage) without having other qualifying insurance, you’ll pay permanent surcharges added to your premiums for as long as you have Medicare. Missing this window can also mean months without coverage.

 

Choosing the Wrong Plan Type

Many people don’t fully understand the difference between Original Medicare and Medicare Advantage (Part C). Original Medicare offers flexibility to see any doctor who accepts Medicare but requires you to buy separate Part D and possibly Medigap coverage. Medicare Advantage combines everything into one plan but often limits you to a network of providers. Picking the wrong one for your lifestyle — for example, if you travel a lot but join a local-only Advantage plan — can lead to surprise costs and limited access to care.

Ignoring Prescription Drug Coverage

Even if you don’t take many medications, skipping Part D can be a major mistake. Without it, you’ll pay full retail price for prescriptions — which can be thousands per year — and you’ll incur a late-enrollment penalty added permanently to your Part D premium. It’s usually smarter to pick an inexpensive drug plan early rather than risk huge costs later.

 

Not Reviewing Coverage Annually

Medicare isn’t “set it and forget it.” Plans change every year — premiums, deductibles, drug formularies, and provider networks all shift. Failing to review your plan during Open Enrollment (Oct 15 – Dec 7) can mean staying in a plan that no longer meets your needs or overpaying when better options are available.

 

Assuming Medicare Covers Everything

A big misconception is that Medicare pays for all medical needs. In reality, it doesn’t cover dental, vision, hearing aids, or long-term care, and even covered services have cost-sharing. Not budgeting for these gaps — or skipping supplemental Medigap or Advantage coverage — can expose you to huge out-of-pocket expenses if you get seriously ill.

Avoiding these five mistakes means paying attention to timing, understanding your options, and reassessing coverage each year. A little diligence up front can save you thousands of dollars and a lot of frustration over time.

Thing Three

Just A Thought  

“The more a man knows, the less he talks.”― Voltaire