Your 3-Step Medicare Open Enrollment Checklist

Medicare's open enrollment period is right around the corner, which means you'll soon need to decide whether to retain your current coverage or make changes that result in more affordable healthcare. Many enrollees find open enrollment stressful, but if you check off each point on this list, you'll increase your chances of walking away with the right coverage for 2020.

Though Medicare Parts A and B are universal, Part D, which covers prescription drugs, consists of numerous plans that you choose from. All Part D plans follow a formulary that places different medications into different tiers. The lower the tier your prescriptions fall under, the less money they cost you.

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Source Fool.com