7 tips to help you get ready for the 2024 Medicare Annual Enrollment Period

The 2024 Medicare Annual Enrollment Period is on the horizon, and it’s crucial to be well-prepared.

Each year, your Medicare plan automatically renews unless you make changes. However, the benefits might differ from the previous year as insurance companies revise their Medicare plans annually.

Instead of letting your plan renew without consideration, it’s advisable to ensure it still aligns with your requirements. You have the opportunity to modify your plan during the Medicare Annual Enrollment Period (AEP). Formerly referred to as the Medicare Open Enrollment Period, AEP occurs annually from October 15 to December 7.

Below are some guidelines to assist you in making well-informed choices regarding your Medicare coverage during AEP.

1: Assess Your Past Year’s Medical Usage

Take a moment to evaluate your health, financial, and coverage needs from the previous year, regardless of whether you plan to change your coverage. Gather receipts to understand your healthcare expenses and frequency of visits. Consider if you acquired new prescriptions, consulted new doctors, or received new diagnoses. Additionally, assess if you anticipate any upcoming surgeries or hospitalizations. Even if your circumstances haven’t changed significantly, it’s wise to review your coverage options during the Annual Enrollment Period (AEP).

2: Check for Changes in Your Current Plan for 2023

While changing plans might not be mandatory for 2023, carefully examine the Annual Notice of Change for your existing plan. If there are alterations in your benefits or out-of-pocket expenses, it’s a valid reason to explore other options during the AEP.

3: Look Beyond Monthly Premiums When Evaluating Costs

Affordability extends beyond monthly premiums. When comparing plans, consider the out-of-pocket costs you might encounter during medical visits. Focus on factors like copays, coinsurance, and deductibles, ensuring they fit within your budget even in unexpected situations.

4: Evaluate Coverage Options Based on Preferred Providers

Confirm whether your primary care physician and preferred specialists, hospitals, and pharmacies are covered by your plan. For those who split time between states, ensure access to in-network providers in both locations.

5: Verify Prescription Drug Coverage and Costs

Different plans offer varying coverage and out-of-pocket expenses for prescription drugs. Ensure that the plan you’re considering covers the medications you need at a price that suits your budget.

6: Start Shopping Early During Medicare’s Annual Enrollment Period

Begin reviewing your coverage options early. Procrastination may lead to rushed decisions that don’t align with your requirements. As the AEP deadline approaches, it becomes more challenging to secure assistance from licensed health insurance agents due to high demand.

7: Consult a Licensed Health Insurance Agent or Broker

Guard against scams by selecting a licensed health insurance agent or broker. When working with them, confirm their licensing credentials. While it’s not necessary to assess every available option, ensure your agent or broker offers a diverse selection from various insurers. Enrolling through a licensed broker, such as Health Plans in Oregon, won’t incur additional costs and can simplify finding the best match for your needs and budget.

Frequently Asked Questions (FAQs)

Q: Can I switch from Original Medicare to Medicare Advantage during the Annual Enrollment Period?

A: Yes, you can switch from Original Medicare to Medicare Advantage or vice versa during the Annual Enrollment Period, allowing you to explore different coverage options.

Q: Can I change my Medicare Advantage plan during the Annual Enrollment Period?

A: Absolutely, the Annual Enrollment Period allows you to switch, drop, or enroll in a Medicare Advantage plan. Ensure you select a plan that covers your specific healthcare needs.

Q: Is there a penalty for enrolling late in Medicare Part B or Part D?

A: Yes, there might be penalties for late enrollment in Medicare Part B and Part D. It’s essential to enroll during your Initial Enrollment Period to avoid these penalties.


As the 2024 Medicare Annual Enrollment Period approaches, empower yourself with knowledge and proactive planning. By understanding your healthcare needs, exploring available plans, and seeking expert guidance, you can confidently navigate the enrollment process. Remember, staying informed is the key to making the most of this significant opportunity for enhancing your Medicare coverage.

Need help? Call Health Plans in Oregon: 503-928-6918. Our assistance is at no cost to you.

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