Changes Coming to Medicare Supplement Plan Options 2020
Posted by LD&B Insurance and Financial Services on
Did you know there are changes coming to Medicare Supplement plan options beginning January 1, 2020?
What is MACRA?
The Medicare Access and Chip Reauthorization Act (MACRA) is a law that makes changes to which Medigap polices can be sold beginning January 1, 2020.
What does the law change for Medigap policies?
After January 1, 2020, any supplement plan that includes Part B deductible coverage cannot be sold to anyone who is “newly eligible” to Medicare. “Newly eligible” means that a person has either aged into Medicare at 65 or has become eligible for Medicare due to age, disability, or end stage renal disease on or after January 1, 2020.
Which plans include Part B deductible coverage?
Plans that currently offer Part B deductible coverage include Plan C, Plan F and high deductible Plan F.
What does this mean for my current Medigap policy?
If a person is currently enrolled in Plan C, F or high deductible Plan F they can keep their plan. If a person was eligible for Medicare before January 1, 2020 and wants to consider changing to plan C, plan F or high deductible plan F, that is still an option.
What if I am “newly eligible” and need to enroll into a guaranteed issue plan?
“Newly eligible” beneficiaries will have access to guaranteed issue plans D, G, and high deductible Plan G. Current Medicare beneficiaries will also have the option to consider enrolling into high deductible Plan G.
If you have questions about your current Medicare Supplement coverage,
or would like a review of your supplement options, please contact us!