If you currently have a Medicare Advantage or Medicare Prescription Drug Plan, your plan can make changes to benefits each year. The carrier is required to send an Annual Notice of Change (ANOC) notifying you of any changes prior to the Medicare Annual Election Period. Due to the new 2025 Medicare reforms on prescription drugs, it is extremely important that you review any plan changes! Many beneficiaries may want to change plans this year.

What is on the ANOC and how can changes affect me?

The ANOC provides valuable details about changes to your plan that will take effect January 1st of the upcoming year. Plans can change their benefits, formularies, copays, deductibles, and/or provider networks each year. Some of these changes could have a negative impact on your costs or ability to seek care. For instance, if your doctor leaves the network then you may have to choose a new doctor or pay higher costs to get care from them.

How do I review the ANOC for plan changes?

The ANOC is mailed out prior to September 30th each year, so keep an eye out and review it as soon as you receive it.

The document will include the following sections:

✓ Summary of Important Costs

✓ Changes to Benefits
✓ Provider Network Changes

✓ Drug Coverage/Formulary Changes

Review it in its entirety for changes to monthly premiums, maximum out-of-pocket costs, copays, deductibles, and changes to any extra benefits. Unfortunately, the ANOC does not list the specific doctors or prescriptions changes directly on the notification. You have to look up the directories on your own at the plan’s designated site. It is best to seek help from a licensed agent who is contracted with all major carriers so they can search providers and prescriptions for you.

Get LOCAL help reviewing your Annual Notice of Change and comparing plans!