October 9, 2023
3 minute read

Why You Shouldn’t Toss Your Annual Notice of Change Letter

If you’re in a Medicare Advantage plan or a Part D prescription drug plan, be sure to sort through your mail pile and email inbox. In September, your insurance company should send you an Annual Notice of Change (ANOC) letter.

It may seem like another boring piece of mail, but it’s more important than you might think, which is why you need to read it carefully. Analyzing your ANOC letter may help you save money and safeguard the care elements that are most important to you in a plan.

What Is an ANOC?

The ANOC is a letter from your private Medicare insurance company explaining the changes that will be made to your Medicare plan or Part D plan in the following year.

A number of changes can occur, and they can affect any of the following: your monthly premium, annual deductibles, out-of-pocket maximum, copays for medical services or medications, the network of doctors or pharmacies, and the drug formulary (the list of generic and brand-name drugs that your plan covers). If there are changes made to any of these, you’ll need to evaluate what you should do in response.

For instance, your drug plan may no longer cover one or more of the medications you’re taking. If that’s the case, you could enroll in a new Part D drug plan that does provide coverage. Or you might learn that your doctor and pharmacy are no longer in the network. That means you’ll need to look for a plan with doctors in your network or commit to finding new providers who are in network.

Your plan’s out-of-pocket maximum may even change, and if it’s not something you can afford, you can search for a plan with a lower limit.

You should also consider your own health. Do you require a different level of care now than you did earlier in the year? If so, it’s time to make sure your current plan meets your future needs.

Evaluating these changes and shopping around to see what is currently available each year could end up helping you save money on your medical expenses.

A good starting point: Speak with one of our licensed insurance agents who can help you understand all your options. Call (800) 827-9990.

If you don’t remember getting your ANOC—or can’t find it—call your plan carrier. (Medicare Supplement plans, or Medigap plans, will not send an ANOC, since they don’t make annual changes.)

What to Do After Reading Your ANOC

If you determine that you want to make changes, your next step will be to choose a different plan during the Annual Enrollment Period, which runs from October 15 through December 7. Any changes in your plan will then become effective January 1.

You can compare quotes online to find one that fits your needs and budget.

No changes needed on your part? Then January 1 will simply mark the start of the new year for your existing plan, which will automatically renew.

Once you’ve read through and evaluated the ANOC letter, you should hang on to it in case you have questions about changes in coverage from the prior year’s plan. Many plans send these electronically or store them on your plan’s website to make them easier to save.

Of course, it can be confusing to wade through all of this on your own, especially if you want to make changes. If you need help navigating all the choices, our team of licensed insurance agents can help you evaluate your options and narrow down your choices. They can even help you enroll in a new plan, if you decide that’s what’s needed.

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© 2024 HealthMarkets Insurance Agency. All rights reserved.

To send a complaint to Medicare, call 1-800-MEDICARE (TTY users should call 1- 877-486-2048), 24 hours a day/7 days a week).

We do not offer every plan available in your area. Any information we provide is limited to those plans we do offer in your area. Please contact Medicare.gov, 1-800-MEDICARE, or your local State Health Insurance Program to get information on all of your options.

Attention: This website is operated by HealthMarkets Insurance Agency, Inc. and is not the Health Insurance Marketplace® website. HealthMarkets Insurance Agency, Inc. is licensed as an insurance agency nationwide except in MA. Not all agents are licensed to sell all products. Service and product availability varies by state. Sales agents may be compensated based on a consumer’s enrollment in an insurance plan. No obligation to enroll. Agent cannot provide tax or legal advice. Contact your tax or legal professional to discuss details regarding your individual business circumstances. Our quoting tool is provided for your information only. All quotes are estimates and are not final until consumer is enrolled. Medicare has neither reviewed nor endorsed this information.

HealthMarkets Insurance Agency is a licensed and certified representative of Medicare Advantage HMO, PPO and PPFS organizations and stand-alone prescription drug plans. Each of the organizations we represent has a Medicare contract. Enrollment in any plan depends on contract renewal. The plans we represent do not discriminate on the basis of race, color, national origin, age, disability, sex, sexual orientation, gender identity, or religion.

This information is not a complete description of benefits. Call the Plan’s customer service phone number for more information.

MULTIPLAN_2021_HM_Anoc_Explain_M

© 2024 HealthMarkets Insurance Agency. All rights reserved.

To send a complaint to Medicare, call 1-800-MEDICARE (TTY users should call 1- 877-486-2048), 24 hours a day/7 days a week).

We do not offer every plan available in your area. Any information we provide is limited to those plans we do offer in your area. Please contact Medicare.gov, 1-800-MEDICARE, or your local State Health Insurance Program to get information on all of your options.

Attention: This website is operated by HealthMarkets Insurance Agency, Inc. and is not the Health Insurance Marketplace® website. HealthMarkets Insurance Agency, Inc. is licensed as an insurance agency nationwide except in MA. Not all agents are licensed to sell all products. Service and product availability varies by state. Sales agents may be compensated based on a consumer’s enrollment in an insurance plan. No obligation to enroll. Agent cannot provide tax or legal advice. Contact your tax or legal professional to discuss details regarding your individual business circumstances. Our quoting tool is provided for your information only. All quotes are estimates and are not final until consumer is enrolled. Medicare has neither reviewed nor endorsed this information.

HealthMarkets Insurance Agency is a licensed and certified representative of Medicare Advantage HMO, PPO and PPFS organizations and stand-alone prescription drug plans. Each of the organizations we represent has a Medicare contract. Enrollment in any plan depends on contract renewal. The plans we represent do not discriminate on the basis of race, color, national origin, age, disability, sex, sexual orientation, gender identity, or religion.

This information is not a complete description of benefits. Call the Plan’s customer service phone number for more information.

MULTIPLAN_2021_HM_Anoc_Explain_M

© 2024 HealthMarkets Insurance Agency. All rights reserved.

To send a complaint to Medicare, call 1-800-MEDICARE (TTY users should call 1- 877-486-2048), 24 hours a day/7 days a week).

We do not offer every plan available in your area. Any information we provide is limited to those plans we do offer in your area. Please contact Medicare.gov, 1-800-MEDICARE, or your local State Health Insurance Program to get information on all of your options.

Attention: This website is operated by HealthMarkets Insurance Agency, Inc. and is not the Health Insurance Marketplace® website. HealthMarkets Insurance Agency, Inc. is licensed as an insurance agency nationwide except in MA. Not all agents are licensed to sell all products. Service and product availability varies by state. Sales agents may be compensated based on a consumer’s enrollment in an insurance plan. No obligation to enroll. Agent cannot provide tax or legal advice. Contact your tax or legal professional to discuss details regarding your individual business circumstances. Our quoting tool is provided for your information only. All quotes are estimates and are not final until consumer is enrolled. Medicare has neither reviewed nor endorsed this information.

HealthMarkets Insurance Agency is a licensed and certified representative of Medicare Advantage HMO, PPO and PPFS organizations and stand-alone prescription drug plans. Each of the organizations we represent has a Medicare contract. Enrollment in any plan depends on contract renewal. The plans we represent do not discriminate on the basis of race, color, national origin, age, disability, sex, sexual orientation, gender identity, or religion.

This information is not a complete description of benefits. Call the Plan’s customer service phone number for more information.

MULTIPLAN_2021_HM_Anoc_Explain_M