Medicare 2013 – Annual Notice of Change (ANOC) and Evidence of Coverage (EOC)
By the end of September you should have received your Annual Notice of Change (ANOC) and Evidence of Coverage (EOC) if you are a member of a Medicare Advantage Plan or participate in Medicare Part D.
This is the information that most of us “toss” in the recycle bin or just put in the “to read later” stack. However, it has some very important information regarding changes in your Medicare Advantage or Part D Prescription Drug plan for 2013. You should not overlook this information and don’t trash it right away!
What you will find in these notices are price increases, changes in what prescription drugs they will carry, changes in tier level co-payments for you prescription drugs. And you can get totally caught off guard in 2013 if you have not read this information and you just automatically renew.
Often times I hear from people how their premium went up over 40 percent or their co-payments increased or the insurance company has dropped one of their prescription drugs or the plan now is requiring the deductible. There is no need for any surprises in 2013. Just take a little time and review your plan(s) during Medicare Open Enrollment.
The insurance companies count on you NOT reading the ANOC or the EOC.
This would be a good time to start writing out a list of your medications for your Part D coverage. List out what your co-payment is for a particular medication. If you are in a Tier based payment system, list the Tier next to it. Last year in 2011 (for the 2012 plan year) one of the Part D Plan providers created a new Tier and bumped various medication up so they would get a larger co-payment.
If you are in a Medicare Advantage plan, write out some of the things you like or dislike. List your co-payments for doctor visits, durable medical equipment, diabetes supplies, etc. Then when you receive your ANOC and EOC, see if premiums and co-payments have changed.
Don’t get overwhelmed. Yes, it does look like a lot of legal jargon. Look for key areas like pricing or look up your prescription drugs to see if anything has changed, tier levels or co-payments or formulary changes.
If you have any questions or comments about Medicare 2013, add them below.