Part D Annual Review Checklist: 7 Steps Before the December 7 Deadline

Why "Staying on the Same Plan" Costs Money

Part D plans change their formularies, copay structures, pharmacy networks, and premiums every year. A plan that was the best fit last year might add prior authorization to your parent's most expensive medication, drop their pharmacy from the preferred network, or raise coinsurance on Tier 4 drugs — all without your parent noticing until January when the pharmacy bill doubles.

The Annual Enrollment Period runs from October 15 through December 7. Any changes take effect January 1. Here's what to check.

Step 1: Read the Annual Notice of Change

Every plan mails an ANOC (Annual Notice of Change) by September 30. This document lists everything that's different for the coming year: premium changes, deductible adjustments, formulary additions and removals, tier reclassifications, pharmacy network changes, and new utilization management restrictions.

Don't skim it. Read the drug-specific sections with your parent's medication list in hand. A drug dropped from the formulary or moved from Tier 2 to Tier 4 changes the math entirely.

Step 2: Update the Medication List

Pull every active prescription bottle. Add any new medications prescribed since last year's review. Remove discontinued drugs. Note any dosage changes — a higher dose can mean a different copay if the plan prices by strength.

This updated list is what you'll enter into the Medicare Plan Finder.

Step 3: Verify Pharmacy Network Status

Check whether your parent's pharmacy is still preferred, standard, or out-of-network under the current plan for next year. The ANOC will note pharmacy network changes. If the pharmacy dropped from preferred to standard, that alone can add over $129 per year in cost-sharing.

Step 4: Run the Plan Finder Comparison

Enter the updated medication list and your parent's pharmacy into Medicare.gov's Plan Finder. Sort by total annual cost (premiums + drug cost-sharing), not premiums alone.

Compare the top three to five results. Look at formulary restrictions — a cheaper plan with prior authorization on a critical drug might not be worth the savings.

Step 5: Check Star Ratings

Plans rated 4 stars or above handle claims and appeals more smoothly. A plan under 3 stars has documented problems — customer service issues, delayed coverage decisions, inaccurate drug pricing. If your parent's current plan dropped below 3 stars, that's a strong signal to switch.

Step 6: Evaluate the Medicare Prescription Payment Plan

If your parent expects high out-of-pocket costs early in the year (specialty drugs, multiple expensive prescriptions), decide whether to enroll in the M3P payment plan for the new year. M3P enrollment doesn't carry over automatically when switching plans — you'll need to submit a new election with the new plan.

Step 7: Enroll Before December 7

If a different plan is the better option, enroll through the Plan Finder, by calling the plan directly, or by calling 1-800-MEDICARE. Print or screenshot the enrollment confirmation — including the confirmation number and date — and file it with your parent's medical documents.

If the current plan still wins the comparison and remains available next year, no action is needed; coverage renews automatically.

What If You Miss the Deadline

The Annual Enrollment Period closes December 7 with no extensions. If you miss it, your parent stays on their current plan until the next AEP unless a qualifying life event — like moving to a new service area, losing employer coverage, or entering a nursing facility — triggers a Special Enrollment Period.

Our Medicare Part D guide includes a pre-filled annual review worksheet with side-by-side plan comparison columns and an ANOC review checklist.

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