You are going to lose your Medicare Supplement Plan F January 1, 2020. You’ve got to make a change!”
“Medicare Supplement Plan F is not going to be available after January 1, 2020. Beginning January 1 you will need a new plan.” Have you received any of these disturbing and alarming telemarketing calls? Whether you want to call this misleading information, false information or fake news, that is exactly what it is. . . well kinda. Here’s “the rest of the story”. The Medicare Access and CHIP Reauthorization Act of 2015 (MACRA; not exactly a household name) made changes to Medigap/Medicare Supplement plans that cover (pay for) the Part B deductible. These changes are for “newly eligible” Medicare beneficiaries and are effective January 1, 2020. Medicare Supplement plans that cover (or pay) the Medicare Part B deductible will not be available to these Medicare Beneficiaries. This refers to Medicare Supplement Plan F and Plan C. What does this mean to you? It depends. . . First, it is NOT true that you are losing your Plan F or Plan C - they are not going away! If you currently have either Plan F or Plan C, you can keep it. If you turn 65 before January 1, 2020, and your Medicare Part A is effective before January 1, 2020, you can enroll in either Plan F or Plan C and you can keep it as long as you want to. Now look at your Medicare card. If your Medicare Part A effective date is prior to January 1, 2020, and you have deferred your Part B, you may still enroll in a Medicare Supplement Plan F or Plan C. If you turn 65 after January 1, 2020, and your Medicare Part A is effective after January 1, 2020, you will not be able to enroll in Plan F or Plan C. (You will have other plans available that are very similar to Plan F and Plan C.) If this sounds confusing, it is. Now instead of being able to enroll in specific plans after your Medicare Part A and Part B are effective, it now means that the Medicare Supplement plans available to you will be based on your Part A effective date. What plans are available to you if you’re losing your group insurance? Or if you have Medicare Part A and are under age 65? There is no need to feel concerned, uncomfortable or uneasy. If you are currently enrolled in Plan F or Plan C, you do not need to do anything (except hang up on the telemarketers who are giving you misleading information). If you have questions or concerns, call 501-868-6650 and say “Caroline, can we talk?”
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AuthorCaroline Beauchamp specializes in personalized life and health insurance solutions. Archives
September 2023
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