Your Medicare ANOC Is Here—Don’t Ignore It!

Every fall, your Medicare Advantage or Part D prescription drug plan sends you an important document called the Annual Notice of Change, or ANOC.

 

It explains what will change in your plan beginning January 1.

Why should you review it?

 

Even if you are happy with your current plan, never assume everything will stay the same. Your ANOC may include changes to:

• Monthly premiums
• Deductibles and copays
• Prescription drug coverage and costs
• Pharmacy networks
• Medical benefits
• Maximum out-of-pocket costs
• Dental, vision, hearing, and other extra benefits

A small change could make a big difference in your healthcare costs or access to care next year.

When should you receive it?

 

Your plan should send your ANOC in September. Do not throw it away or place it in a pile to review later.

 

If you do not receive an ANOC, the document may be delayed.  It could also mean your current plan will not be available next year. Be on the lookout for a non-renewal or termination letter explaining that your coverage is ending on December 31.

 

If your plan is ending, you will need to compare your options and enroll in a replacement plan. To help ensure your new coverage begins January 1, complete your enrollment no later than December 31.

Don’t wait until the last minute

 

Medicare Open Enrollment runs from October 15 through December 7. This is the main opportunity to review your coverage and make changes for January 1.

 

If your plan is being discontinued, you may receive additional time through a Special Enrollment Period. However, waiting until after December 31 could delay the start of your replacement plan.

What should you do next?

Review your ANOC or termination notice carefully and ask yourself:

• Will my medications still be covered?
• Have my copays or premiums increased?
• Are my benefits changing?
• Will this plan still meet my healthcare needs next year?
• Is my current plan being discontinued?

If you are unsure, I’m here to help. Send me a copy of the notice you received, and we can review your options together.

 

Remember: Retirement benefits should be coordinated, not guessed.