Do you plan on getting Medicare and using supplemental insurance to help cover some of the costs? If so, the Medicare Access and CHIP Reauthorization Act (MACRA) of 2015 may affect you.
MACRA has a new rule that could affect new Medicare recipients. As of January 1, 2020, Medicare beneficiaries that have become newly-eligible cannot purchase supplement plans that cover the Part B deductible. MACRA will affect Medicare supplement plans C, F, and High-deductible F, as well as Minnesota and Wisconsin Part B deductible coverage.
If you are eligible for Medicare before January 1, 2020, here is what you need to know.
Your plan options that cover the Part B deductible will not change, wherever they are offered.
If you have a Medicare supplement insurance plan already, the benefits in your policy won’t change.
Your policy will last as long as your premiums are paid on time.
If you are eligible for Medicare on or after January 1, 2020, you need to know the following information.
When you select the option for Original Medicare for healthcare coverage, you can still choose from many supplemental options.
Medicare supplement options will vary depending upon your location.
What the policy covers will vary, but no policy will cover the deductible for Part B for the calendar year.
Have questions but don’t know where to turn? We’re Medicare savvy! You can reach out to us by calling (806) 350-7380 to learn more information about this may affect your healthcare.
December 7th will be here before you know it. Contact us right away and book your FREE Medicare review. Call 806 350-7380 now and visit with a knowledgeable professional today. We’ll skip the tricks and help you find your chosen plan in minutes. And, we won’t RIP a hole in your pocket.
Whether you’re already on a Medicare program—or getting close to enrolling -There are a few things you truly need to know. These tips will help you avoid huge expenses -And relieve a whole lot of stress for you and your loved ones down the road.
Medicare is a great program benefiting millions of My Fellow Texans -But the federal government is trying to contain Medicare costs by tweaking benefits all the time. In other words—reducing them—even if you don’t realize it.
A Medicare Program Doesn’t Cover Everything.
Here’s the deal -You could wind-up overpaying thousands of dollars out of your own pocket. And long-term care coverage may be too expensive -Which is why you probably don’t already have it.
The reality is—there’s no bed like your own. And if you suffer an illness or have an accident the last thing you’d want to do is recover in an unfamiliar hectic environment like a hospital room—or nursing home. Incidentally—long-term care policies are prohibited from paying short-term recovery care claims.
If you’re like most of us—you’d prefer focusing on recovery in the comfort of your own home. Think about your situation -You May be reaching that age when preparing for future care is necessary. Relying on Medicare may not be your best choice for recovery care. Plus—if non-skilled care is all the doctor orders—Medicare never covers it. So—if you’ve put off planning for future care—a short-term home health care policy may be just what you’ve been looking for.
Short-term coverage can pick-up where Medicare leaves off -Covering care in your home—assisted living—or a skilled nursing facility. Even costs you think Medicare should cover –but may not always. It could even help with hospital and prescription drug copays.
Are you aware, Medicare supplements (Medigap) plans help pay most required Original Medicare cost-shares (like copays, coinsurance, and deductibles) depending on the plan you choose?
High there!.. Medicare is the federal healthcare program that provides basic medical benefits to eligible enrollees regardless of their income or resources. Nonetheless, Original Medicare (Parts A & B) doesn’t pay 100% for approved medical treatments and/or supplies. Consequently, most Medicare recipients have some sort of supplemental coverage.
In addition, most Medigap policies offer limited benefits for emergency medical treatments while traveling abroad. Original Medicare typically doesn’t offer coverage outside the country. You worked hard for Medicare most of your life – Now it’s time Medicare works for you!
This website is a recipe for success!.. Our passion is to help you find simple solutions to unique health care issues fast -explained in everyday language. Anyone using this website is entitled to our free decision guide that will help them choose their preferred benefit package. Your free guide will be hand delivered by a licensed local agent.
While you’re here, book a friendly chat -or, just call Bud at: 806-350-7380 Team-up!.. Together, we’ll make Medicare easy in minutes..
Bye the way?.. If you live on a fixed income and/or have limited assets, it’s likely you may qualify for extra federal government subsidies that help pay for prescription drugs.
We can simplify the application process!.. It’s free and easy to apply for Extra Help… Don’t wait – Apply today to see if you’ll qualify for subsidies that help pay Medicare prescription drug costs. Even if your income and resources are more than the amounts listed online, it’s important to apply; because, aggregate amounts may increase any given time… The process is simple and quick – You’ll receive a determination letter from SSA in about two weeks. Anyone QMB, SLMB, or QI eligible, through the Medicare Savings program, automatically qualifies.
Important information about this blog: Medicare has neither viewed nor approved this information. This is a solicitation of private insurance.
Why is it important to use a local licensed agent?
All supplements are standardized by the government. Still, each company charges different premiums for the same exact thing!
Premiums are zip code specific. Ergo, a local licensed agent simply makes good sense because a licensed local agent will be more familiar with the policies available in your zip code.
Are supplement policies the same as Medicare Advantage Plans?
No! Medicare Supplement (Medigap) policies cover your Parts A & B out-of-pocket costs. On the other hand, Medicare Advantage Plans are an alternative way to get basic Medicare coverage. Sometimes Medicare Advantage plan’s offer additional benefits.
With all the choices out-there for healthcare coverage, it’s important to understand how each one works. Here’s a brief look at how supplements differ from other coverage including Medicare Advantage Plans.
Financial Security— Medigap policies can provide you with additional protection against catastrophic health care bills.
Predictability — Standardized coverage helps you budget out-of-pocket costs more predictably.
Choice — Most policies cover any provider that will take Medicare patients, even across state lines. Plus, no referral are needed to see specialists.
Reliability — Any changes in benefits automatically adjust from one year to the next. What’s more, policies are guaranteed renewable.
Equally as important, you as a Medigap policyholder will take comfort in not receiving any bills from providers or suppliers and not having to fill-out claim forms.
Attestation: This information has not been reviewed or endorsed by the federal Medicare program. This website is a non-governmental resource for people wanting general information, articulated in a simple and straightforward way. Provided by Bud Griffin, independently licensed in Texas.
Disclaimer: Medicare supplement policies are standardized, but not affiliated with or endorsed by the U.S. government or the federal Medicare program.