Annual Notice of Change

Each year, Medicare insurance beneficiaries receive an Annual Notice of Change (ANOC) from their plan provider. This notice outlines any changes to the coverage, costs, or service area of the Medicare Advantage or Part D prescription drug plan.

It is essential to review the ANOC carefully to ensure that you understand any changes that may impact your healthcare coverage or out-of-pocket costs. This notice is typically sent out in September, and you have until December 7th to make changes to your plan during the Annual Enrollment Period (AEP).

Some of the changes that may be outlined in the ANOC include changes to the plan's network of doctors and hospitals, changes to drug formularies or copayments, changes to coverage for specific services, or changes to the plan's cost-sharing requirements.

If you do not review your ANOC and make changes during the AEP, you may be automatically re-enrolled in your current plan. This can result in unexpected out-of-pocket costs or limitations on your healthcare coverage.

To ensure that you are making informed decisions about your healthcare coverage, it is recommended that you review your ANOC each year and consider any changes that may impact your healthcare needs and budget. You may also want to consider working with a licensed insurance agent who can help you understand your options and navigate the enrollment process.

In summary, the Annual Notice of Change is an essential document for Medicare beneficiaries to review each year. By carefully reviewing this notice and considering any changes to your healthcare needs and budget, you can make informed decisions about your Medicare Advantage or Part D prescription drug plan and ensure that you have the coverage you need for the coming year.