The Medicare open enrollment period concludes on December 7th. These final suggestions can aid.

• Medicare's open enrollment period expires this week.
• There is still time for beneficiaries to modify their health plans or prescription drug coverage for 2025.
• Experts advise considering these tips when shopping for plans.

Medicare coverage for next year is about to expire, and older Americans have only a few days left to assess their options.

Medicare's open enrollment period for health plans and prescription drug coverage ends on Dec. 7. It is advised that Medicare's 67.8 million beneficiaries take advantage of this time to ensure they have the most suitable coverage for their specific needs.

Juliette Cubanski, the deputy director of the program on Medicare policy at KFF, stated that "now is as good a time as any."

It's wise to explore all options before sticking to one's plans, even if beneficiaries are content with their current choices, she advised.

Cubanski suggested that you might save money by finding a plan that offers lower cost sharing for expensive medications or better coverage or extra benefits.

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According to Philip Moeller, author of "Get What's Yours for Medicare," beneficiaries should begin their plan shopping process on Medicare.gov.

The Medicare.gov online plan finder can give a comprehensive view of the plans available in a beneficiary's area and the monthly premiums and specific costs associated with services provided through those plans, according to Cubanski.

Medicare counselors are available in every state through the State Health Insurance Assistance Program (SHIP).

Experts suggest keeping certain tips in mind to effectively compare plans.

Make sure you have access to preferred providers

Medicare beneficiaries have the option to select between the original Medicare program, which includes Parts A and B and the possibility of adding Part D prescription drug coverage, or private Medicare Advantage plans.

Access to healthcare is not a problem with original Medicare, as you can see any doctor in the country who accepts Medicare, according to Moeller.

Medicare Advantage plans restrict the selection of doctors and hospitals for beneficiaries, according to him.

It's advisable to verify if the doctors you wish to visit are included in your plan, according to Moeller.

Check with Medicare Advantage plans or medical providers directly to confirm coverage, as brochures may not always be up-to-date, Cubanski advised.

Check if your prescription drugs are covered

Medicare Part D has a $2,000 annual out-of-pocket cap on prescription drug costs starting in 2025.

The Inflation Reduction Act, a federal law passed in 2022, brought about that change.

Insurance will pay more for approximately 8% of people who take expensive prescription medications, but they may search for ways to recover the costs for the remaining 92%, according to Moeller.

The alternative version of the sentence is: "The new health insurance plan may result in higher out-of-pocket costs or less comprehensive coverage."

"It is crucial to pay attention to the specifics of Part D plans this year, as Moeller advised. Thorough research and careful review are necessary to ensure that one's Part D plan continues to meet their expectations."

According to Cubanski, the average deductible for prescription drug coverage in Medicare Advantage plans will increase next year from around $50 per month to just over $200.

In 2025, Medicare Advantage enrollees will on average see an increase in their drug coverage deductibles, according to Cubanski.

Pay attention to your out-of-pocket costs

In 2025, beneficiaries can control the increase in their overall out-of-pocket costs, including premiums, deductibles, and coinsurance, through open enrollment.

Ensure that you have manageable out-of-pocket expenses for the year, advised Moeller.

Medicare Part A premiums remain free for beneficiaries, but the standard monthly Part B premium will increase to $185 in 2025, a $10.30 hike from the current $174.70. Additionally, the annual deductible for Medicare Part B will rise to $257 in 2025, a $17 increase from the $240 annual deductible in 2024.

Medicare Part B typically covers only 80% of outpatient costs, which can be financially burdensome for beneficiaries. To help offset these expenses, most people purchase a Medigap plan, according to Moeller.

Medicare supplement insurance, commonly referred to as Medigap, offers private coverage to help cover expenses not included in original Medicare plans. According to a recent KFF study, the average monthly Medigap premium is $217, although these rates can vary by state.

Medicare Advantage plans may have varying costs, and you may have to pay more to see a doctor who is not in your network, according to Moeller.

On average, Medicare Advantage enrollees have an out-of-pocket limit of $4,882 for in-network services or $8,707 for both in-network and out-of-network services, according to KFF.

Bottom line: "Details matter," Moeller said.

Medicare original vs. Advantage: Choice is personal

Some criticism of Medicare Advantage has focused on its restricted access to care and the unexpected costs that some beneficiaries have experienced.

The decision between private Medicare Advantage plans and government Medicare original plans is largely a matter of personal preference, according to experts.

Medicare Advantage may be the best option for certain individuals, according to Moeller.

Medicare Advantage offers several advantages, including being more affordable for consumers than traditional Medicare with a Medigap plan, providing out-of-pocket protection against catastrophic health bills, and offering supplemental coverage for hearing, vision, and dental, which traditional Medicare does not.

Prior authorization is typically required for certain types of care for Medicare Advantage enrollees, while traditional Medicare generally does not use it.

You may still be able to make changes after Dec. 7

After the official Dec. 7 end of Medicare open enrollment, some beneficiaries may still be able to make changes.

Moeller stated that Dec. 7 is significant, but it's not the only date to consider when making changes.

Medicare Advantage plan holders have a unique opportunity to change their plan, switch to original Medicare or add a standalone Part D drug plan during the open enrollment period from January 1 to the first quarter.

If you have experienced a significant life change, such as a relocation, you may be eligible for Medicare's special enrollment periods.

According to KFF, individuals residing in regions impacted by hurricanes or wildfires in 2024 may have additional time to enroll for their 2025 insurance coverage.