Open enrollment for Medicare Part D and Medicare Advantage plans runs from October 15 to December 7 every year, and it's a good time to review all of your options. If you've been prescribed new medications or your drugs have gone generic over the past year, a different plan may now be a better deal for you.

The cost and coverage can vary a lot from year to year — some plans boost premiums more than others, increase your share of the cost of your drugs, add new hurdles before covering your medications, or require you to go to certain pharmacies to get the best rates.

Go to the Medicare Plan Finder to compare all of the plans available in your area during open enrollment. Type in your medications and dosages to see how much you'd pay for premiums plus co-payments for plans in your area.