By now, you should have received your Annual Notice of Change (ANOC) document for your 2023 Medicare plan. The ANOC discusses all the plan changes for the next year that will take place. It is important to review that your doctors, hospitals, and prescriptions are all still being covered according to your expectations. October 15th through December 7th is the only time of year that most people can change their Medicare advantage or prescription drug plan. Thus, here are some crucial things your agent should be doing for you to conclude if your current plan is still the best plan for you:
- First and foremost, your agent should be contacting you to discuss your options for the next year. Hovis & Associates sends out a packet the first week of September every year to all Medicare clients and those who have contacted our office in the past for Medicare plan advice. Furthermore, you should be contacted throughout the year on complimentary products.
- Performing annual reviews at no cost to you.* For a thorough and accurate review, your agent will be requesting an updated list of doctors, hospitals, and prescriptions so they can double check that these are still in-network providers and that your prescriptions are being covered. Sometimes a plan may change its formulary; therefore, it is imperative to audit your drug cost every year at review time to ensure that you are paying the least necessary for your prescriptions. Prescriptions are a monthly and repetitive cost; thus, this is a variable that has more weight than others.
- If you need a change or are new to Medicare, your agent should be able to provide several different options on how to meet to discuss your choices and how to sign-up. After COVID, some people prefer no contact options via phone or a virtual meeting platform. Please note that due to recent regulations, no contact options, must be recorded. You can also choose to complete your plan application via paper or online platform. The methods differ by carrier.
- Once you sign-up, you should still hear from your agent! This person should now be your LOCAL and first contact for any future issues, questions, or concerns. Customer service across America has declined, so let your local agent and his/her team get the answers you need without having to sit on hold while you wait for a customer service representative to answer the phone.
If you do not want to change plans AND have confirmed that all your prescriptions are still covered, then you do not need to do anything further and your plan will automatically renew on January 1st.
As you can see, it is important to stay on top of Medicare costs each year to budget and prepare for your healthcare expenditures. Give us a call to explore your coverage options and to make sure you are on the best plan to accommodate YOUR needs. At Hovis & Associates, we are contracted with all the major players, so call today at (800) 411-0737. We make Medicare SIMPLE!
*An agent may be compensated by the insurance carrier based on your plan enrollment. We do not offer every plan available in your area. Any information we provide is limited to those plans we do offer in your area. Please contact Medicare.gov or 1-800-MEDICARE to get information on all your options. Please note that we only offer reputable plans with a reliable customer service component.