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When you think of absolute necessities in life, things like having a roof over your head and food on your table probably pop into your head first. But when you think about it, healthcare coverage deserves a spot at the top of that list too. After all, without health, a home or food don’t matter, which is why the Medicare Open Enrollment period is so crucial.

If you’ve been distracted by everything else going on this year, you may have overlooked the fact that open enrollment is currently live. It started on October 15, and it will wrap up on December 7.

What can you accomplish during the open enrollment period? It’s mostly reserved for joining, dropping, or switching Medicare Advantage or Medicare Part D prescription plans. In other words, if you were hoping to change any supplemental or Medigap plans, the open enrollment period is not dedicated to those tasks.

Since time is ticking and open enrollment is already in full swing, you may want to jump in headfirst and make changes to your Medicare plan. While that may be needed, there are some things you should know before making any moves, as you don’t want to make the wrong ones that could lead to regrets later on.

What should you keep your eyes on before taking advantage of the open enrollment period? Here are some questions to ask yourself:

1. Have you read your Annual Notice of Change (ANOC) yet?

It’ll be hard to make any adjustments to your Medicare coverage if you aren’t aware of the changes set to take place in 2021. Where can you find those changes? In the ANOC, which you should have received already in the mail.

If you haven’t opened it yet, dust it off and do so. Then pay attention to the following areas to make sure that everything is up to snuff. If it is, you may not need to make any changes to your plan:

The costs of services and prescriptions – Will they go up and become too costly?
Location – Are your network providers, pharmacies, and services slated to stay where they are?

2. Have you thought about how your needs have changed?

To say that 2020 was an odd and extremely stressful year is an understatement. As such, your healthcare needs may have changed to the point you now need to see different specialists or require new drugs and services. If there are changes to your needs, you’ll need to list them so you can find sufficient coverage that your current plan may not offer.

3. Are you paying attention to all the moving parts of your plan?

Medicare plans can be complicated and confusing. Regardless, you’ll want to keep an eye on all the moving parts of plans so you can pick the right one, such as:

• Providers within the network
• Treatments/services
• Prescriptions
• Out-of-pocket costs
• Supplemental benefits

4. Are you aware of all the Medicare resources at your disposal?

There’s no need to tackle Medicare Open Enrollment alone. Here are just some of the resources that can make the process much easier, so you go into it with confidence:

• My Medicare Matters Tool
• SHIP (State Health Insurance Plan)
• Medicare Plan Finder