Reviewing your Annual Notice of Change

With the Medicare Open Enrollment quickly approaching I'd like to talk about the Annual Notice of Change you may be receiving this September. The Annual Notice of Change is a document sent by your Medicare Advantage or Prescription Drug Plan carrier that details any change to your benefits, costs, or coverage. 

When you review these documents, here are the top things to consider:

1. Will there be any changes to your provider/hospital network? 

2. Are there any changes to your plan's prescription formulary? Medications can be added, removed or subject to cost sharing tier changes yearly. 

3. Service area changes are increasingly more common. If a plan is moving out of your geographical territory, you'll need to apply for a new plan. 

4. Any changes to your monthly premium or other additional costs. 

   
   

After you review your ANOC- talk to your agent and compare your current plan against others. If you need to make a change, Oct 15- Dec 7th is the time!