What is New for Medicare Supplement Plans?
A new federal law—the Medicare Access and CHIP Reauthorization Act of 2015 (MACRA)—will affect the availability of Medicare Supplement Plans issued in 2020 and thereafter that cover the Part B deductible. Effective January 1, 2020, Plans C, F and HDF will not be available to newly-eligible Medicare beneficiaries. Since policyholders are already enrolled in Medicare, this law will have no effect on their Medicare Supplement Policy or coverage.
Who is Affected by Medicare Supplement Plans F & C Going Away?
Current policyholders will not lose their coverage in 2020 or thereafter, and will not need to make any changes to their coverage. Their Medicare Supplement Insurance policy is guaranteed renewable as long as premiums are paid on time.
MACRA defines newly eligible as anyone who: (a) attains age 65 on or after January 1, 2020, or (b) who first becomes eligible for Medicare benefits due to age, disability or end-stage renal disease on or after January 1, 2020.
If a policyholder is approached by any agent in the future who they feel is intentionally misleading regarding this law change or the continuation of existing Medicare Supplement Insurance policy, policyholders have the right to report this and file a complaint to their state Department of Insurance or the National Association of Insurance Commissioners (NAIC).
A policyholder currently holding a Plan F or Plan C with United American can convert to a plan with less coverage – for example, a Plan G or Plan N – with the help of their United American Agent. When a plan offers less coverage (as a Plan G or Plan N do compared to Plan F or Plan C), policyholders will not have to answer any health questions to complete the conversion.
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Learn more about Medicare Supplement insurance options.
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).