There are many Medicare terms and acronyms that can be confusing, whether you’re new to Medicare or have been receiving coverage for years. The Annual Notice of Chance, or ANOC, may be one. But the Twin City Underwriters team is here to help you understand your ANOC, either at one of our ANOC informational seminar, or at a one-on-one ANOC meeting.
A Plan Annual Notice of Change (ANOC) isn’t as intimidating as it seems. If you already have a Medicare plan, you will receive an Annual Notice of Change each fall. Your ANOC will have information about changes in costs, coverage, or service areas that will apply the following year. (So, the ANOC you receive this fall will take effect in January 2022.)
This document will help you plan for the upcoming year, and determine whether you should make any changes to your Medicare coverage for 2022.
If you receive an ANOC, you may also receive an Evidence of Coverage (EOC). The EOC gives you details about how much you pay, what the plan covers, and more. Both of these documents will help you plan for the coming year. However, they can be confusing, which is why Twin City Underwriters is here to help!
Why Should You Schedule an ANOC Meeting?
It’s a good idea to reach out to a licensed insurance broker if:
- You have had any major health changes in the last year
- If you’d like to change your plan for any reason
- If your plan is changing and you want help understanding it, and determining whether you need to change your coverage as a result
It’s important to note that not everyone needs to schedule an ANOC meeting, but it’s a good idea if you want to make any changes to your plan. Making sure you are on the right plan will ensure that you aren’t paying too much and also that you are on the plan that best fits your needs.
With yearly changes in cost and coverage, we know how confusing Medicare can be. Scheduling an ANOC meeting will ensure that your questions get answered, and that you have the right coverage. Contact Twin City Underwriters today to schedule an ANOC meeting.
Choosing a Medicare plan can be difficult. Working with an insurance broker can help you find a plan that fits your needs. Schedule a one-on-one meeting with one of our Minneapolis insurance brokers to get your insurance questions answered!
