It is the time of year that everyone on a Medicare Advantage plan gets a letter from their Medicare Insurance companies.These ANOC letters explain in detail how your current plan is changing for the upcoming year.

Sometimes your plan with actually get better than the year before. Often it will stay very close to your current plan. And finally, it could get worse or even much worse than the prior year.

The other things that can happen is the networks can change. Maybe your doctor is no longer in network or maybe a hospital or hospitals are no longer in network. A big one I see is formulary changes on the prescription coverage. This is never good.

The most important thing that has my phone ringing of the wall is when the is a premium spike. It seems people are not happy when this happens.

I instruct all my clients to call me when their letter arrives. Much of August and early September is spent reviewing all the plans from all the insurers for me. It is imperative that I know what is changing or not.

When you get your letter, read it. Makes notes as to concerns you may have and call your advisor or agent.