Watch Your Mail In September For Medicare Notices Of Change

Seniors need to watch for Medicare Notice of Plan Changes sent in SeptemberPhoto byAmerican Association for Medicare Supplement Insurance

Jesse Slome is director of the American Association for Medicare Supplement Insurance (AAMSI) a national advocacy organization that supports insurance professionals who market Medicare solutions. This post may include affiliate links. If you purchase anything through these links neither the author nor the Association earn a commission. However, agents who sell Medicare plans do.

This September, watch your mail if you are on Medicare. Millions of Americans will be receiving one or two Annual Notice of Change (ANOC) letters. Many will come via mail although email is also a possibility.

Don't ignore the mailing urges the American Association for Medicare Supplement Insurance. Unfortunately, about 30 percent of Americans will do just that.

Some significant changes are coming in 2025. So even if you are happy with your current plan, you may get a nasty and costly surprise in January.

What is an Annual Notice of Change?

An Annual Notice of Change must be provided to all those with Medicare Advantage plan coverage. Also, to those with Medicare Part D prescription drug plan coverage. They are not sent to those with Medigap plans as these don't change much from year-to-year.

You'll get your copy during September, If you don't, call your plan early so that a duplicate copy can be mailed.

The document will communicate whether your plan will be offered in 2025. Already some major insurers have announced plans to cease offering coverage. A Medicare Advantage Notice of Change will tell you if your doctors and hospitals will remain in the plan’s network.

The Annual Notice of Change from your Part D plan will lay out how much your premiums, deductibles, and co-pays will differ in the year. It should share whether your prescriptions will be covered and, if so, how much you’ll pay.

Many Seniors Fail To Compare Options

Plan to spend anywhere from 30 to 60 minutes reading your Annual Notice of Change. No change may benefit you. However, a recent study reported that 81% of Californians could pay less for their drug plan81% of Californians could pay less for their drug plan. The average savings ranges from $500 to $700 making this a decent investment of your time.

During open enrollment, you can switch from your current Part D plan to another, from your Medicare Advantage plan to another, from Medicare Advantage to original Medicare as well as from original Medicare to a Medicare Advantage plan. According to a recent report, the typical seniors has 40 different Medicare Advantage plans available to compare.

Don’t feel compelled to switch plans just because your Annual Notice of Change says your premium will go up a little or a benefit will be trimmed slightly.

However, if a medication you take will no longer be covered or your physician or hospital won’t be in network, that’s an important change that should encourage you to compare other options.