Elaine opened her mail in her driveway, anxiously curious about a suspicious-looking envelope from her Medicare Advantage plan. Across the top of the letter in large font was 'Annual Notice of Change' (ANOC). Change? Now what, she thought.
Briefly scanning the letter, she noticed her plan was making some significant changes in co-pays, and some of the plan services they offered currently were not going to be offered next year. As she started back to the house, she saw her neighbor June doing yardwork and called out a friendly greeting. As they were chatting, Elaine complained about the changes to her plan. 'It seems they change stuff to my plan every year, and like most people, I don't like change, and I don't like surprises.'
'Can't you just switch plans?' replied June. 'How would I know which one to switch to?' a stressed Elaine exclaimed. 'Oh, that's easy. My advisor at 123 Easy Medicare reviews my plan yearly, so I avoid surprises. They tell me whether to stay on my current plan or switch to another one more appropriate for my needs.' June continued. Elaine was relieved, 'These people sound like somebody I need to talk to.'
'Let me get you their contact info. It's on a magnet on my refrigerator.' June promised as she invited Elaine to come in and share a glass of iced tea. 'Oh, and I forgot the best part! Their services are free!' She exclaimed.
When did you last compare all the plans available in your market? Do you need to switch? Would you like to find out? Call us! We're here to help!
By American Retirement Advisors
American Retirement Advisors helps retirees and pre-retirees navigate Medicare, estate planning, and retirement income — so you can enjoy the retirement you've earned.
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Easy Eddie's Take
Elaine's situation is something I see all the time. Most people are surprised when they learn that Medicare Advantage plans can change their benefits, copays, and provider networks every year. The good news is that every October 15th through December 7th, you have Medicare Open Enrollment to review your options and switch plans if needed.
Here's what a lot of people don't realize: you can compare all Medicare Advantage plans, Medicare Supplement plans, and Part D prescription drug plans available in your specific ZIP code for free. The Centers for Medicare & Medicaid Services provides plan comparison tools, and licensed insurance agents can help you understand the differences between Original Medicare with a Supplement versus Medicare Advantage plans. In Arizona, we often see 20 or more Medicare Advantage options each year.
Think of it this way: spending an hour each fall reviewing your Medicare coverage can save you hundreds or even thousands of dollars in the coming year. Once you know what to look for, it's actually pretty straightforward.