Is Plan F Going Away? Yes & No. But so is Plan C and High Deductible F
For people eligible for Medicare prior to January 1st 2020, the answer is “no”. If you receive Medicare after January 1st 2020, the answer is yes. (Legislation impacting this is called MACRA. Spelled out is: Medicare access and CHIP Reauthorization Act of 2015)
Plan F is not the only plan letter going away. Plan C and High Deductible F are also impacted.
Here are three important facts to understand going forward:
1) Anyone eligible for Medicare Part A before January 1st 2020, can still enroll in Plan F, Plan C and High Deductible F. If you are already enrolled in one of these plans you can KEEP your coverage after 01/01/2020. YOU WILL NOT BE IMPACTED!
2) Anyone who receives Medicare Part A after January 1st 2020, will not be eligible for either Plan F, Plan C or High Deductible F. Plan G will be the most comprehensive Medicare Supplement Policy available. It mirrors Plan F, with the exception of the Part B annual deductible of $185.00.
3) If you are already enrolled in Plan F, Plan C or High Deductible F, you do not need to do anything. Your coverage will not be impacted by this legislation. If you received or are going to receive Medicare Part A before 01/01/2020, you can still purchase Plan F, Plan C or HDF, beyond 2020.
There is a lot of misinformation regarding Plan F. Most folks do not know about Plan C or High Deductible F. There is no need to worry if you are receiving Medicare after 2020. There are still some very good Medicare supplement options available, including but not limited to, Plan G and Plan N. In many cases, Plan G offers better value than Plan F anyway, with very, very little financial exposure ($185 annual deductible)
If you have questions regarding this form of coverage under Medicare call or email me and I will be able to answer all your questions. Based on the many people I work with and speak to, there is a lot of misinformation being spread around regarding this. Call me and I will give you the facts.