It’s a new year and those #Medigap plan changes you’ve been hearing about have gone into effect. The most common question I hear is, “Did Plan F go away?” The answer is, “Yes and no.” In 2015, President Obama signed into law the Medicare Access and CHIP Reauthorization Act (MACRA). One of the components of #MACRA is that it prohibits insurance companies from selling plans, that cover the Medicare Part B deductible, to newly eligible beneficiaries.
So, who is considered “newly eligible”?
Basically, anyone who turns 65 on or after 01/01/2020 and is not currently eligible for Medicare. In other words, if you have Medicare with an effective date prior to Jan 1, 2020, (even if due to a disability and you’re under age 65) OR you turned 65 prior to Jan 1, 2020, regardless of whether you have Medicare, you are still eligible to purchase these plans as long as the insurer continues to sell them.
Which plans are effected?
#PlanF, which pays 100% of Part A deductibles/coinsurance/copays, hospice care coinsurance, skilled nursing coinsurance, Part B deductible/coinsurance/copays, Pt B *excess charges and 80% foreign emergency travel (limits).
#PlanC, which pays 100% of Part A deductibles/coinsurance/copays, hospice care coinsurance, skilled nursing coinsurance, Part B deductible/coinsurance/copays, and 80% foreign emergency travel (limits).
*#excesscharges are what a physician can charge above and beyond Medicare-approved amounts.
The MACRA rules are clear but many industry people do not understand them and calling an 800 number often leads you to yet another person who does not understand. If you have questions, feel free to call me – after all, I’m always a “safe place to get information without the sales pressure.”