You may have heard of the Medicare Access and CHIP Reauthorization Act of 2015 (MACRA), but what does it mean for current and newly eligible Medicare Beneficiaries? Here is what you need to know:
MACRA makes changes to all carriers’ Medigap policies that cover the Part B deductible for newly eligible Medicare Beneficiaries on or after January 1, 2020.
Medicare supplement plans C and F, which cover the Medicare Part B deductible, will no longer be offered to individuals newly eligible for Medicare as of January 1, 2020, or later. This means that anyone turning 65 on or after January 1, 2020, will only be able to purchase plans C or F if they have a Medicare Part A effective date before 2020.
Medicare supplement plans C and F will continue to be available for individuals eligible for Medicare before January 1, 2020. Therefore, anyone who turns 65 before January 1, 2020, may continue to enroll in or keep plans C or F.
Plan G may be a great option for newly eligible Medicare Beneficiaries after January 1, 2020
Medicare Supplement Insurance Plan G covers the same benefits as Plan F with the exception of the Medicare Part B deductible.
Ashford Insurance offers Medicare Supplemental Insurance Plans from several top carriers. Call today for an appointment to discuss all your options.
Photo by Andrea Piacquadio
