Medicare Mistake #9:
Failing to Read Your Annual Notice
Your Annual Notice of Change (ANOC) specifies changes in plan coverage, service area, and costs for the following year– starting in January. Your Annual Notice is mailed to you by September 30, which is just a few weeks before the Annual Election Period between October 15 and December 7. The ANOC letter typically includes information like:
- Premium changes
- Deductible and copayment changes
- Changes to drug formulary
- Changes to in-network providers or service areas
- Changes to additional benefits
You can use your notice to decide if your current coverage still meets your needs, as well as compare your current plan to others during the Annual Election Period. It is best to make changes to your plan during AEP because there will be more options than the rest of the year.
It is important to thoroughly look at and compare your Annual Notice, as even small plan changes can make a big difference in cost to you. To ensure you do not end up paying high out-of-pocket costs, make sure the health services and prescription drugs you need are covered. There are a few great tips you can implement when receiving your ANOC letter that will ensure that you read and understand everything to the best of your ability. You want to look out for keywords like “changes to your plan” and highlight them. These aspects will matter most when you decide whether to keep your plan or not. You should also highlight or mark any confusing parts and concerns that you see in the letter. Having these labeled will make it easier for you to discuss them with your insurance agent. A licensed insurance agent should be your first call when you receive your ANOC letter. They can help you understand how the changes may affect you and what your options are.
We recommend you compare your plan to other plans, even if nothing significant has changed. Another company may offer the same plan at a lower rate. If you find a better plan, you must switch during the Annual Election Period between October 15 and December 7.
If you have not received your notice, contact your Medicare plan to request it. Failing to read the notice eliminates this opportunity. If you don’t take action, you will be automatically re-enrolled in your current plan, regardless of whether those changes negatively affect your costs or coverage. Don’t just assume that your preferred doctors and medications will still be covered. It’s best to be proactive and not wait until the last week of AEP to explore other options.
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We hope that this information on the annual notice of change is useful to you.
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This article was updated on July 31, 2025.