Terry Savage: Medicare beware — a guide to open enrollment

Terry Savage, Tribune Content Agency

Medicare's open enrollment period starts October 15. Making the correct choices when you initially sign up for Medicare — and every year when you must review your drug coverage — could save you a fortune. Or cost you a fortune, if you make a mistake. Beware!

Medicare is not a one-time event where you sign up and forget it. Portions of Medicare require annual review and potential changes in coverage, such as if you move to another state, or if you find you cannot afford the premiums of the plan you initially chose. Miss a deadline and you could find yourself without coverage or paying too much.

Medicare is not even a one-time age-65 event. You may delay applying for Medicare if you have comparable coverage from work, or from your spouse’s job, ass