Jack's Blog on Medicare Plan Choices

The Medicare Annual Notice of Change (ANOC) is required by Medicare and distributed by your insurance carrier.  They are typically mailed out in late September each year.

Let’s break it down.

Medicare Advantage and Part D prescription drug plans are required to send their ANOCs to members by September 30th.

This timing allows you time to review any changes in your coverage before the Annual Enrollment Period.  Remember that the Annual Enrollment Period, or AEP,  runs from October 15 to December 7 each year. During this period, you can make changes to your Medicare coverage for the following year.  Remember that if you are happy with your plan, do nothing and it will roll over to the next year.

WHY?

The Annual Notice of Change (ANOC) is important to review for several reasons:

1. Coverage changes: It outlines any changes to your Medicare plan’s benefits, costs, or rules for the upcoming year. This could include changes to:

   – Monthly premiums

   – Deductibles

   – Copayments or coinsurance

   – Coverage limits

   – Network providers

2. Cost implications: Understanding these changes helps you budget for your healthcare expenses in the coming year.

3. Service alterations: The ANOC may inform you about changes in covered services, which could affect your access to certain treatments or medications.

4. Informed decision-making: By reviewing the ANOC, you can determine if your current plan still meets your needs or if you should consider switching to a different plan during the Annual Enrollment Period.

5. Avoiding surprises: Being aware of changes prevents unexpected costs or coverage issues when you seek care in the new year.

6. Medication coverage: For those with Part D plans, the ANOC includes information about changes to the plan’s formulary (list of covered drugs), which is crucial for those managing chronic conditions.

7. Network changes: It may inform you about changes to in-network providers or pharmacies, which could affect your ability to see your preferred doctors or fill prescriptions at your usual pharmacy.

By carefully reviewing your ANOC, you ensure that you’re making the best healthcare decisions for your needs and budget in the upcoming year.

My customers know that they can call me with any questions regarding changes in their pans.  In fact I call all my customers between October 1^st and Thanksgiving day to discuss changes headed their way.

Here is my disclaimer.  I gather most of my information from Medicare.gov and to the best of my knowledge, it is accurate.  Please use this information as a guideline.

Before choosing an Advantage or Supplement plan, ensure you have a thorough understanding of Medicare itself. When it’s time to explore your options, don’t fall for a sales pitch from a single company or an agent representing only one provider.

At “More Plans More Choices,” I can provide you with side-by-side comparisons from various insurance carriers. More carriers plus more plans equals more choices.

Call me toll free at (888) 883-6074