As Medicare beneficiaries are receiving their Annual Notice of Change (ANOC), it’s important to know what that information really means and what could be different about your plan in the year ahead.
Debbie Stroup, a licensed Medicare agent with M1 Insurance Group, joined “Live in the D” to explain the significance of the Annual Notice of Change.
“It’s a really important document that you want to take the time to open up,” Stroup said. “It’s going to describe some of the changes of the plan that you’re currently in that are going to happen for next year. So don’t ignore that. Look at it. It could be something as simple as your deductible is going up or your out-of-pocket is going up, but your out-of-pocket could be going up $2,000.”
Stroup also explained that one of the big things to watch out for is whether your current plan is still going to be available in the upcoming year.
The Annual Notice of Change can range from a few pages to around 50 pages.
If you’re meeting with an agent to go over your notice, Stroup recommends bringing information about:
- Your doctors
- Your prescriptions
- Your pharmacy
- Your dentist
For more information about the M1 Insurance Group, you can click here or call them at 248-227-0347.