Choosing the right Medicare Supplement/Advantage plan is a critical decision. Choosing the wrong plan, one that doesn't cover a costly prescription you require, could cost you thousands of dollars. It's important to review and compare Medicare supplement plans annually during open enrollment, even if you like your plan, because changes within your plan may have been made.

Medicare open enrollment is this year from October 15 to December 7, 2019, with any changes to your plan that you select becoming effective January 1, 2020. Each year, most Medicare beneficiaries should receive their Annual Notice of Change (ANOC) and Evidence of Coverage (EOC) from their existing Medicare Advantage and Medicare Part D plan providers by September 30. To compare plans, see what Medicare plans are available in your area, and to enroll in a new plan visit Medicare.gov or call 800-MEDICARE (800-633-4227). [i]

Another option for information and enrolling is to call the plan of your choice or visit its website. Many plans change - both the benefits offered and the premium - as do your health needs over the year. Take this time to ensure that the plan you are using is the best fit for you.

When selecting a Medicare plan, enrollees should look at co-pay amounts, drug formularies and treatment coverage. Enrollees should also consider the cost of premiums, what their deductible is, and cost sharing. [ii] Take the time to review the coverage that you are offered, what doctors and pharmacies are in your plan. Look into the convenience of the plan; are the doctors accessible, does the plan offer a mail-order pharmacy option?

Last, consider customer service of the plan. To find ratings based on the quality of care and customer service each plan provides go to  Medicare.gov/quality-care-finder. [iii]

If you have questions about your Medicare or your Supplement, visit  medicare.gov, the official U.S. government site for Medicare.