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As an insurance agent, it's essential to guide your clients when they receive their Annual Notice of Coverage (ANOC) from their Medicare Advantage or Part D plan. The ANOC, typically sent out around September, details any changes to their coverage for the upcoming year.

Understanding these changes is crucial for your clients as they consider whether to adjust their coverage during Medicare’s Fall Annual Enrollment period, which runs from October 15th to December 7th.

Encourage your clients to pay close attention to three key areas in their ANOC:

• Plan Costs: Highlight any changes to premiums, deductibles, and copayments.
• Network Changes: Ensure clients understand how any modifications to their plan’s network could impact their current providers and pharmacies.
• Formulary Adjustments: Review changes to the plan’s formulary that might affect the coverage or cost of their current medications.

Once your clients are informed about these updates, help them assess whether their current plan will continue to meet their needs in the new year or if switching plans during Fall Open Enrollment would be more beneficial. Your expertise can make a significant difference in ensuring they have the best coverage possible.

Helpful Resources:
https://www.psmbrokerage.com/inflation-reduction-act-medicare-reforms

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