If you are enrolled in a Medicare Advantage plan, either an HMO or a PPO, or if you’re enrolled in a Part D prescription plan, then you should be familiar with the little document that you receive in the mail each and every September. This document, called your Annual Notice of Change, might not seem all that important. It contains long lists and names of doctors and providers that you may or may not recognize, and frankly – it’s just something that you don’t have the time to sift through. You have coverage, and that’s enough!

However, we’d like to make an important point if you frequently decide to toss these notices to the wayside – your Medicare plan might be changing right under your nose!

Don’t Ignore It!

Not only does your Annual Notice of Change outline the various changes in your coverage, as well as changes to your premiums that will be made for the coming year, but it also provides you with a closer look at your coverage as a whole.

After reading it, you can make the informed decision to stick with your current plan or to choose another plan just in time for the fall open enrollment period. Everyone knows the hassle of trying to receive healthcare coverage after the open enrollment period, and this little document gives you the prime opportunity to make an informed decision about how to best keep your coverage intact.

Avoid A Shock!

Not only will reading your Annual Notice of Change provide you with a closer look into your coverage, but it will also help to prevent that nasty shock of receiving your next bill and almost having a heart attack right on the spot!

Give yourself the information ahead of time, so that you can plan for any increases in premiums, copays, and other out of pocket expenses so that you can plan, strategize, and make the best possible decision to ensure that your coverage remains comprehensive and affordable.

Beware of Change!

Each and every year, your Annual Notice of Change will outline any change in premium, copayments, and in-network/out-of-network providers. Sometimes, your insurance may drop an in-network provider that you’ve been seeing for years right out of the blue.

If you’ve spent time cultivating and building a relationship with your provider, it can be disheartening to know that you’ve got to start all over again with a new in-network practitioner. By paying closer attention to your Annual Notice of Change, you can be on the lookout for changes to your network, so that you can remain comfortable in your primary and secondary care practitioners.

Give Yourself The Advantage That You Deserve

With a Medicare Advantage Plan or a Medicare Part D prescription plan, you can only gain access to that advantage if you’re willing to spend the time to get to know your coverage. Always be sure that you review your Annual Notice of Change to stay ahead of the game each and every year.

References: https://www.medicare.gov/forms-help-resources/mail-you-get-about-medicare/plan-annual-notice-of-change-anoc