What is ANOC and Why Is It Important?
September 22, 2022 | Kari Mellone
As autumn arrives, Medicare recipients will be bombarded with Medicare mail. Most of the time, it is just advertisements from organizations trying to sell you what they have to offer. However, there are some mail you will want to watch out for, including ANOC, or Annual Notice of Change, materials.
When you are enrolled in a health plan on an annual contract, you will receive this document several months before the yearly renewal takes place. Your ANOC materials will lay out any upcoming changes that may be occurring with your plan.
What Kind of Changes You Could Find on Your ANOC
Medicare Advantage plans (MA/MAPD) are based on an annual contract and can change from one year to the next. Some of the changes that you may find on your ANOC include:
- Monthly premium
- Copays/Coinsurance
- Provider network
- Medication coverage
- Extra Benefits
As a Medicare member, you can expect to receive your Annual Notice of Change (ANOC) letter sometime in mid to late September. This ANOC letter will be from the insurance company that your Medicare health plan is currently through. It is essential to keep your eyes peeled for this letter because this is likely the most critical information for you to review out of all the mail you receive this fall.
The Annual Election Period is Coming Up
You will want to review this information in preparation for the Medicare Annual Election Period (AEP) that takes place each year from October 15th to December 7th. During AEP, you can make changes to your plan selection for the following calendar year, which takes effect January 1st.
Depending on how your needs have changed or how the components of your plan will change, action may or may not be necessary for you. If you notice something that might affect how you are covered (such as a network change or medication coverage) or if you want more clarity on changes, contact Twin City Underwriters. If your needs haven’t changed and none of the plan’s changes will affect you, no further action will be necessary.
However, with many Medicare Advantage plans available and more extra benefits being incorporated into plans, you may want to review your options regardless. Working with an experienced Medicare insurance broker will allow you to review all of your plan choices.
Note: if you continue to pay your premiums and do not manually disenroll yourself from your plan, you will automatically be enrolled in that same plan for next year.
Do you have questions about your Plan Annual Notice of Change? With the yearly changes in cost and coverage, we know how confusing Medicare can be. That’s why our Medicare and health insurance agents offer free informational Medicare workshops and opportunities for one-on-one meeting with our Medicare agents.
