Medicare Annual Notice of Change Letters

Key Takeaways

• Review your Annual Notice of Change letter in September to understand what's changing in your current Medicare Advantage or Part D plan (premiums, deductibles, copays, formularies, etc.)
• Starting October 1st, visit Medicare.gov to compare your current plan against other plans in your area—carriers cannot send comparative information, so you must do this research yourself
• Begin your plan comparison and enrollment early in the October 15th - December 7th Annual Election Period rather than waiting until the deadline to ensure you have adequate time and professional guidance
• Look for plans offering additional supplemental benefits or lower cost-sharing (copays, deductibles) that could significantly impact your healthcare access and out-of-pocket expenses
• If switching from Medicare Advantage to Medigap, secure Medigap approval first before dropping your Medicare Advantage plan to ensure continuous coverage