As a result of a new legislation passed by Congress, as of January 1st, 2020, Medigap plans will no longer be allowed to offer coverage of the Medicare Part B deductible, which is currently $166 (in 2016). However, current Medigap policyholders and those buying policies before 2020 will still be eligible for the deductible coverage after that date.
What does this mean for you?
Plan F will no longer be available beginning in 2020 for NEWLY ELIGIBLE Medicare recipients. If you already have Plan F, you will be able to keep it. BUT, there's bad news. Plan F premium rates will be increasing at a higher rate than others because of this legislation. So even if you are already enrolled in Plan F, it may be wise to review other plans.
What should you do?
We are recommending our clients look into switching to another Medicare Supplement plan like Plan G, which offers a lower premium and similar coverage.
Should I wait to switch?
You should act now if you are healthy and want to look at switching plans since you'll have to undergo Medical underwriting. If you wait until 2020, there is a risk that new potential health issues prevent you from being able to switch plans. Get started today!