I am trying get way ahead of any stress you might incur later on in the year regarding hearing about changes to your Medicare Supplement Plan F (or Plan C). So as a courtesy to avoid any misinformation that might be floating out there I thought I would write this blog post to explain in advance. That way you will know correct answers well in advance to alleviate any possible concerns about changes you may hear later on in the year regarding your existing Medicare Supplement insurance.
If you are already have an existing Medicare Supplement Plan F or Plan C, don’t worry you will be able to keep your existing plan, since you will be grandfathered in!
Plans C, F, and High Deductible F will still be available for beneficiaries who were Medicare eligible prior to 12/31/19.
The new rule only effects newly eligibly people that want to enroll in a Medicare Supplement and are only eligible AFTER 1/1/2020!
What is MACRA?
MACRA stands for the Medicare Access and CHIP Reauthorization Act of 2015. The new rule states that as of January 1, 2020, newly-eligible Medicare beneficiaries won’t be able to purchase Medicare supplement plans that cover the Part B deductible. This includes Medicare supplement Plans C, F, High-Deductible F (and Minnesota and Wisconsin Part B deductible coverage).
Medicare-eligibility through December 31, 2019
For those of you who are already Medicare-eligible or will be through December 31, 2019, your Medicare options are the same as they have always been. You can keep your existing plan or purchase any that cover the Part B deductible.
Medicare-eligibility January 1, 2020 and after
The MACRA rule will impact people who become Medicare-eligible after December 31, 2019 as the are considered “newly-eligible” and won’t be able to purchase plans that cover the Part B deductible. Their plan choices include some type of cost-share. Additionally, MACRA makes Plans D and G the guaranteed issue plans for newly-eligible Medicare beneficiaries (as of January 1, 2020) for the specified period under current law that name Plans C or F for current beneficiaries.
If you are either current Medicare supplement policyholders or are Medicare eligible prior to January 1, 2020 be assured that your Medicare supplement options are unchanged and no action is required!
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Note: Medicare Insurance information can be overwhelming and confusing to many people. As an independent licensed agent I can explain things to you in simple terms so you feel comfortable making a decision. Then I can help you choose and enroll in a plan that you feel fits your needs.
By the way, it doesn’t cost you any more if you enroll in a Medicare Insurance plan through me as an independent agent versus directly with an insurance company either over the phone or via the Internet, since I get paid by the insurance companies for your enrollment. Plus you will have personalized service by a local agent. If you would like my assistance, please call me at 941-404-5334.
By calling this number, I understand I will be directed to a licensed insurance sales agent.