The Annual Notice of Change (ANOC) is typically sent to Medicare Advantage and Part D enrollees in September. The ANOC details next year’s changes to your current plan’s premium, deductible and co-payments. It also lists covered drugs and their cost; and mentions whether any doctors, hospitals and specialists are leaving your plan’s In-Network list.
Even if you don’t plan to change your Medicare Advantage or Part D coverage next year, you always want to review your Annual Notice of Change (ANOC) in advance of the Medicare’s Annual Enrollment Period (AEP). You do not want to be surprised by a change to your plan that has a significant impact on you.
Unlike Medicare Supplement plans, which are standardized by law and do not change annually, Medicare Advantage and Part D plans typically change each year. Additionally, Medicare Advantage plans may also terminate completely or reduce their service area coverage. Each Medicare Advantage insurer decides annually which plans to offer and their market areas.
If you want to know what is changing with your current plan — review the Annual Notice of Change and, even better, review it with your broker.
Generally, beneficiaries who elect to make no coverage changes during open enrollment will automatically roll over into that same plan if it is offered the next year.
