If you have been approached by an insurance agent or company telling you Plan F is going away in 2020 and not to purchase one now or to change your existing coverage BEWARE. Medicare Access CHIP Reauthorization Act (MACRA) of 2015 prohibits the sale of Medigap Plan F and C beginning in 2020. That prohibition only applies to newly eligible Medicare beneficiaries. Congress did not prohibit the sale of these policies to people who were already eligible or enrolled in Medicare before 2020.
Many seniors like Plan F because it pays the Part A and B deductibles of Medicare. All they need to remember is to pay their premium and make sure the claim is an approved claim from Medicare. Marketing of other supplement plans like Plan G is being done heavily because, for some insurance companies, Plan F premiums are too expensive in the marketplace. For these insurance companies, only their Plan G premium can compete. Or, maybe a sales representative only sells price and not benefits. Remember, saving a penny today could cost you a dollar tomorrow.
Again, beware, only people who become eligible for Medicare on or after 1/1/2020 are affected by the change. If you already have Plans C or F on that date, you can keep it.
Century Health Solutions is a subsidy of Stormont Vail Health and provides free Medicare Educational Seminars. We are your local expert in Medicare planning and will help you find the best option for your personal situation. Please feel free to call us at 785-270-4593 with questions or to make an appointment. Our business hours are Monday-Friday, 8:00am-4:30pm.