Don't ignore your ANOC: Here's why it matters
Every year, as summer turns to fall, there’s one piece of mail that many Medicare beneficiaries recieve and often overlook.
It arrives in your mailbox along with advertisements, bills and other paperwork, and it can be tempting to set it aside for “later”.
It’s called your Annual Notice of Change, or ANOC.
If you’re enrolled in a Medicare Avantage plan or a Medicare Part D prescription drug plan, your insurance carrier will send you an ANOC each year before Annual Enrollment Period (AEP) begins.
While it may not look exciting, it contains important information about your coverage for the upcoming year.
What is an Annual Notice of Change (ANOC)?
An Annual Notice of Change is a document sent by your Medicare Advantage or Medicare Part D prescription drug plan that outlines any changes to your plan that will take effect on January 1 of the following year.
Think of it as your plan’s way of saying,
“Here’s what’s staying the same, and here’s what’s changing next year.”
Some years there may be only a few small updates. Other years, the changes could have a bigger impact on your healthcare costs or the way you use your benefits.
Why do you receive one?
Insurance plans can change from year to year.
Your carrier is required to notify you of those changes before the Annual Enrollment Period so you have time to review your options and decide whether your current plan is still the right fit for your needs.
Receiving an ANOC doesn’t necessarily mean something is wrong with your plan. It simply gives you the opportunity to understand what’s changing before those changes take effect.
What kinds of changes could be included?
Every plan is different, but your ANOC may include updates such as:
Monthly premiums
Deductibles
Copays and coinsurance
Prescription drug coverage
Pharmacy network changes
Provider network changes
Extra benefits
Service area updates
Even if you've been happy with your plan this year, it's still worth reviewing these changes before the new plan year begins.
Do I need to change plans?
Not necessarily.
One of the biggest misconceptions about receiving an ANOC is that it means you should automatically switch plans. In many cases, the changes are minor, and your current plan may continue to be the right option for you. Other times, changes to costs, provider networks, or prescription coverage may make it worthwhile to explore other options.
The important thing is to make an informed decision—not to assume you need to change or stay without reviewing your coverage.
How Platinum Benefit Advisors Can Help
At Platinum Benefit Advisors, we believe reviewing your coverage each year is an important part of making sure your plan continues to meet your healthcare needs.
Our goal isn't to switch your plan every year… Our goal is to help you understand your options and make the decision that's right for you.
Sometimes that means staying exactly where you are. Sometimes it means finding a plan that better fits your doctors, medications, budget, or healthcare needs.
Either way, we're here to help you feel confident in your decision.
Bring Your ANOC to Your Appointment
When your Annual Notice of Change arrives, don't throw it away.
Bring it with you to your appointment, or let us know if you have questions.
We'll review it together, explain any changes, and help you understand what they mean for your coverage.
After all, coverage isn't one-size-fits-all, and neither is the guidance you deserve.