Annual Plan Reviews
Your Annual Plan Review
If you are currently enrolled in Medicare, having an annual plan review with your Medicare insurance agent is an important part of maintaining accessible and affordable care.
Whether or not you personally experience changes, Medicare will have changes every year. It is important you are aware of these changes and how they impact your costs and benefits.
Scheduling an annual plan review with one of our licensed Medicare insurance agents is just a call or click away.
Potential Changes To Your Medicare Plan Benefits
✓ Change in your plan’s premiums, deductibles, copays and coinsurance
✓ Changes in network providers
✓ Changes in services areas
✓ Changes in Part D formulary, tier and cost-sharing
When Can You Make Changes To Your Plan?
The Annual Enrollment Period (AEP)
During this enrollment period, which runs annually from October 15th – December 7th, all Medicare beneficiaries can add, change or drop coverage.
✓ Change from Original Medicare to a Medicare Advantage plan
✓ Switch from a Medicare Advantage plan to Original Medicare
✓ Switch from a Medicare Advantage plan to another Medicare Advantage plan
✓ Enroll in a Part D prescription drug plan
✓ Switch your Part D prescription drug plan
✓ Drop your Part D prescription drug plan
How are You Notified of Changes to Your Plan?
Annually, you will receive notifications from the Social Security Administration, as well as your Medicare plan providers, communicating changes for the upcoming plan year. These notifications come at different times and it is crucial that you review both.
Annual Notice of Change (ANOC)
If you are currently enrolled in a Medicare Advantage (Part C) or a stand-alone Medicare Prescription Drug Plan (Part D), every September you will receive your ANOC in the mail or email. Your delivery method will be how you’ve agreed to receive plan communications.
It is extremely important to read your entire ANOC to learn about plan changes so you can properly evaluate either remaining on your current plan or consider changing your plans.
TIP: Regardless of your drug coverage (Part C or Part D), we recommend that you confirm your medications will remain on your plan’s formulary for the upcoming year.
Benefits of an Annual Plan Review
There are numerous benefits of having an annual plan review. Below is a list of some of the more important reasons to schedule a review with your MP Group agent.
✓ Budget for estimated medical costs for the upcoming year
✓ Ensure your prescription drugs are covered
✓ Confirm your providers will remain accessible under your chosen plan
✓ Understand the impact of government changes on your benefits
