What to Review for 2027

If you’re enrolled in a Medicare plan, you probably received an important document
this fall: your Annual Notice of Change, or ANOC.

Don’t automatically put it in the pile of Medicare mail.

Your Annual Notice of Change explains changes to your current plan for the coming year,
including changes involving costs and coverage. That makes it one of the most useful
documents to review before Medicare Annual Enrollment.

The key takeaway: Don’t ask only, “Did my premium change?”
Review your prescriptions, healthcare providers, costs, benefits and your own healthcare
needs before deciding whether your current coverage still fits.

What is a Medicare Annual Notice of Change?

Medicare plans send members an Annual Notice of Change each fall. It explains changes
to the plan that will take effect in January.

You can learn more about plan changes directly from Medicare.gov.

Receiving an ANOC does not mean you automatically need to change plans. It means you
have information you should review before deciding whether your existing coverage
continues to meet your needs.

1. Are your Medicare costs changing for 2027?

Start with costs, but don’t stop at the monthly premium.

Review changes involving:

• Monthly premiums
• Deductibles
• Copays
• Coinsurance
• Other potential out-of-pocket costs

A plan with a low monthly premium can still involve costs when you receive care.
Consider the complete financial picture rather than evaluating coverage using one number.

2. Is your prescription coverage changing?

If you take prescription medications, make a current medication list and review your
coverage for the coming year.

Include:

• Medication name
• Dosage
• How often you take it
• Your preferred pharmacy

Prescription needs can change during the year, so don’t rely solely on the list you
used during your last Medicare review.

3. Are there changes affecting your healthcare providers?

Think about the physicians, specialists, hospitals and other healthcare providers
that matter most to you.

If provider access is important to your decision, verify how the coverage you’re
considering works with the healthcare professionals and facilities you expect to use.

4. Have your own healthcare needs changed?

Sometimes the biggest change isn’t your Medicare coverage. It’s your life.

Since last year, have you:

• Started taking a new medication?
• Started seeing a specialist?
• Had a significant change in healthcare needs?
• Started traveling more?
• Changed your budget or retirement situation?

Your annual review should consider what you expect to need in 2027, not simply what
worked several years ago.

5. Are you evaluating the entire plan?

It’s easy to focus on one attractive feature.

Instead, look at the complete picture:

• Doctors and healthcare providers
• Prescription medications
• Premiums
• Deductibles
• Copays and coinsurance
• Potential out-of-pocket expenses
• Coverage rules
• Benefits that actually matter to you

When is Medicare Annual Enrollment?

Medicare Annual Enrollment runs from October 15 through December 7.
Changes made during this period generally take effect January 1.

For official information about Medicare enrollment periods, visit Medicare.gov.

Should everyone change Medicare coverage during Annual Enrollment?

No.

Annual Enrollment is an opportunity to review your coverage. It isn’t a reason to
change coverage simply because you can.

For some people, reviewing their options may confirm that their existing coverage
continues to fit their needs. For others, changes involving healthcare providers,
prescriptions, costs, benefits or personal circumstances may make another option
worth considering.

What if you’re considering Medicare Supplement coverage?

Medicare Supplement
Insurance (Medigap) works differently from Medicare Advantage.

Do not assume Medicare Annual Enrollment gives everyone an automatic opportunity to
purchase any Medicare Supplement policy they want. Enrollment rights, eligibility
and underwriting considerations can depend on individual circumstances and applicable rules.

If you’re considering leaving Medicare Advantage for Original Medicare and potentially
adding Medicare Supplement coverage, understand your options before ending existing coverage.

What should you bring to a Medicare review?

• Your Medicare card
• Your current plan information
• Your Annual Notice of Change
• A current prescription list
• Your preferred doctors and specialists
• Your preferred pharmacy
• Questions or concerns about your current coverage

Get Medicare Help in Central Oregon

Bancorp Insurance, Powered by OneDigital specializes in helping Medicare beneficiaries
in Bend, La Pine and throughout Central Oregon understand their Medicare options.

You can also learn more about Medicare Supplement coverage and Bancorp’s other Medicare resources before your appointment.

Frequently Asked Questions

What is a Medicare Annual Notice of Change?

The Annual Notice of Change is a document Medicare plans send each fall explaining
changes in coverage, costs and other plan information for the coming year.

When is Medicare Annual Enrollment?

Medicare Annual Enrollment runs from October 15 through December 7. Changes generally
take effect January 1.

Do I have to change Medicare plans during AEP?

No. AEP provides an opportunity to review and make certain changes. A review may also
confirm that your existing coverage continues to fit your needs.

Can I automatically get a Medicare Supplement during AEP?

No. Medicare Supplement enrollment works differently from Medicare Advantage and Part D
enrollment. Eligibility, enrollment rights and underwriting considerations can depend
on your individual circumstances.

Bancorp Insurance is not connected with or endorsed by the U.S. government or the
federal Medicare program. Plan availability, eligibility, benefits and costs vary.