What Are the 2020 Medicare Reform Changes?
Do you have plans to purchase a Medicare supplemental policy? If so, it’s important to be aware of current insurance plan changes that went into effect on January 1, 2020.
On April 16, 2015 the Medicare Access and CHIP Reauthorization Act of 2015 (MACRA) was passed. On January 1, 2020 this new federal law came into effect, and prohibits first-dollar Part B coverage (first dollar means coverage of all claims without paying any out-of-pocket costs).
MACRA affects the Medigap Plans C, F, and HDF which cover the Part B deductible. With this new federal law, these plans are no longer available to newly-eligible Medicare beneficiaries.
MACRA defines newly eligible as anyone who:
- Turns age 65 on or after January 1, 2020
- Who first becomes eligible for Medicare benefits due to age, disability, or end-stage renal disease on or after January 1, 2020
If you're currently enrolled in a Medicare plan there is no action you need to take and you will not lose your coverage in 2020. Those enrolled in a plan C, F, or HDF can keep their guaranteed renewable coverage as long as premiums are paid on time. Moreover, current enrollees may continue to purchase Plans C, F, or HDF beyond January 1, 2020 and will also be able to buy the new High Deductible Plan G when it becomes available.
Your style is your choice. Shouldn't your doctor and your coverage be, too?
Coverage of your choice with doctors of your choice are included with plans that don't restrict you to networks of specialists.
The new High Deductible Plan G replaces the High Deductible Plan F as an option for newly-eligible beneficiaries. Insurance experts predict Plan G to become a popular choice for newly eligible Medicare enrollees that want the most coverage without surprises.
It’s important to select the best plan based on your budget, unique health needs, and state specific laws. If you have questions regarding your current coverage, please contact a licensed insurance agent or producer.
The purpose of this communication is the solicitation of insurance. United American Insurance Company is not connected with, endorsed by, or sponsored by the U.S. government, federal Medicare program, Social Security Administration, or the Department of Health and Human Services. Policies and benefits may vary by state and have some limitations and exclusions. Individual Medicare Supplement insurance policy forms MSA10, MSB10, MSC10, MSD10, MSF10, MSHDF10, MSG10, MSHDG, MSK06R, MSL06R, MSN10 and in WI, MC4810 and MC4810HD, MC4810HDG are available from our Company where state-approved. Some states require these plans be available to persons under age 65 eligible for Medicare due to disability or End Stage Renal disease (ESRD). You may be contacted by an agent or producer representing United American Insurance Company, PO Box 8080, McKinney, TX 75070-8080. OUTLINE OF COVERAGE PROVIDED UPON REQUEST.
For Ohio, you may verify the agent/broker and United American Insurance Company by contacting: The Ohio Department of Insurance 50 W. Town Street, Third Floor - Suite 300, Columbus, OH 43215. Consumer Hotline: 1-800-686-1526 or TDD Number: (614) 644-3745. For costs and complete details of coverage call or write your insurance agent or the company (whichever is applicable).