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ANOC. It sounds like a character from STAR WARS, doesn’t it?

ANOC is a Medicare acronym that stands for a plan’s ANNUAL NOTICE OF CHANGE. It’s a letter or similar document that each Medicare plan sponsor (insurance carrier) is required to send annually to anyone enrolled in that respective carrier’s MEDICARE ADVANTAGE PLAN or a MEDICARE PRESCRIPTION DRUG (PART D) PLAN. This requirement does not apply to Medicare Supplement Plans.

The ANOC highlights the changes in a specific plan’s coverage, service area, or costs that go into effect the following January (i.e., January 1, 2024). Medicare requires that each plan sponsor send an ANOC to plan members no later than September 30th each year.

This means if you are enrolled in either a Medicare Advantage Plan or a Prescription Drug Plan, you should have received your respective plan’s Annual Notice of Change via regular mail or an email notification. If you didn’t receive one and would like to check it out, contact your Medicare plan to request a copy of the ANOC document. You can find your plan’s contact information on the back of your plan membership card or by logging in to your online member account.

More Medicare Notes Off The Cuff

……… “Do I Have To Do Anything???” With all the crazy and often celebrity-delivered noise that takes place this time of year (coinciding with the upcoming Medicare Open Enrollment, which runs from 10/15 through 12/7 every year), that’s a question we get a lot from now until early December each year. Mostly, the questions come from those folks who may be new to Medicare coverage in the past year.

The short answer is… “You Don’t Have To Do Anything Unless You Want To Change Your Coverage.” If you like your coverage and want to keep it, you don’t have to do anything.

Of course, if you want to make a change, reach out and let us know. As always, we’ll be happy to help…

… And finally. Still no word on Part B premium for 2024. We continue to hear that we should anticipate a $10 to $15 increase to the 2023 base rate of $164.90. Of course, last year, CMS pleasantly surprised us with a rate decrease, which is very unlikely to happen again this year. We’ll let you know about any changes to the Part B premium as well as any changes to the Income Related Adjustment Amounts (aka IRMAA) for 2024 as soon as we hear.

If there are specific topics you’d like us to address in future issues please drop us a line at 65plus@bbginc.net with your suggestions.