The Annual Enrollment Period (October 15 – December 7) tends to sneak up on people, and by the time it arrives, the process of reviewing your coverage can feel rushed. A little preparation before AEP opens makes the whole process faster, calmer, and more likely to result in the right decision for the coming year.
Start With Your Annual Notice of Change
If you’re on a Medicare Advantage or Part D plan, your plan sends an Annual Notice of Change (ANOC) every September, outlining what’s shifting for the coming year — premiums, deductibles, formulary changes, network changes, and any benefit adjustments. This document is easy to skim past, but it’s the single most useful piece of paper you’ll receive before AEP. Read it carefully rather than assuming “no major changes” without checking.
Update Your Provider and Medication List
Health needs change over the course of a year — new diagnoses, new specialists, new medications. Before comparing plans, update your list of current doctors, specialists, and medications (with dosages). This list becomes your comparison yardstick, and it’s much easier to build it calmly in September than to try to remember everything while comparing plans in a hurry come mid-October.
Reflect on the Past Year Honestly
A useful annual review isn’t just about the plan on paper — it’s about how the plan actually performed for you. A few honest questions help:
- Did I have any trouble getting a service or medication covered this year?
- Did I run into any unexpected out-of-pocket costs?
- Were my preferred doctors and pharmacy consistently in-network?
- Did I use any of the plan’s extra benefits, or did they go unused?
- Am I anticipating any new health needs in the coming year that my current plan might not handle well?
Gather Your Cost Documentation
Pull together what you actually spent on healthcare this year — premiums, copays, coinsurance, and any out-of-pocket costs for things like dental, vision, or prescriptions. This gives you a real baseline to compare against next year’s options, rather than estimating from memory. It also helps you spot whether your actual usage patterns match the type of plan you’re in.
Know Your Enrollment Windows
AEP (October 15 – December 7) is the main window most people use, with changes taking effect January 1. But it’s not the only one — the Medicare Advantage Open Enrollment Period (January 1 – March 31) allows a one-time plan change if you’re already enrolled in Medicare Advantage, and various Special Enrollment Periods apply for specific life events throughout the year. Knowing which window applies to your situation prevents missed opportunities to make a change when you need one.
Set a Realistic Timeline
Rather than trying to finalize everything on October 15, build in time to actually compare options thoughtfully:
- Early September: Update your provider and medication list, review your past year’s costs.
- Mid-to-late September: Read your Annual Notice of Change carefully.
- Early October: Identify two or three plans worth comparing seriously, based on your non-negotiables.
- October 15 onward: Finalize your decision and enroll, or confirm your current plan still fits and take no action.
Consider Bringing in a Second Set of Eyes
Even with good preparation, plan comparison can be genuinely complex, and a licensed agent can help confirm you haven’t missed something — a formulary change, a network shift, or a better-fitting option you hadn’t considered. This is especially useful if your health needs changed significantly over the past year.
For a deeper dive into comparing plans once you’re ready, our post on how to compare Medicare Advantage plans walks through a practical framework, and you can schedule time for a full review before AEP opens.
Bottom Line
The best Annual Medicare Review happens before AEP officially starts, not during the rush of it. Reading your Annual Notice of Change, updating your provider and medication list, and honestly reflecting on the past year gives you a real head start — and a much calmer decision-making process when AEP arrives.
Price Services Group, LLC is not affiliated with or endorsed by the U.S. government or the federal Medicare program. NPN: 18530055 | Agency NPN: 20387435
Have questions? Schedule a free review with Kayla Price, a licensed insurance agent at Price Services Group. Call 866-648-1578 or visit priceservicesgroup.com/schedule.