It’s extremely important for Americans to learn about any potential changes happening to Medicare, particularly seniors. Many seniors purchase Medigap plans to help pay for those extra services they need that their Medicare Part A and B do not fully cover. In the upcoming 2020, there will be some substantial changes.
The biggest change is happening to Medigap Plan F and C, but there are some other notable changes that will occur too, including increases to Part B premium, Part B deductible, Medicare Advantage enrollment, and more. To stay informed on all these important changes, keep reading. We’re created a detailed list of all the 2020 changes every American should know.
1. Changes to Medigap Plan F and C
Arguably the biggest change to Medicare in 2020 will be to Medicare Supplement Plan F. This is the most popular because according to eHealth Medicare, it offers the most comprehensive list of basic benefits out of all the other Medicare Supplement policies. This supplement plan essentially covers all of the costs left over after the Original Medicare (Part A and Part B) has been paid out. This means enrollees have fewer out of pocket expenses. It’s main goal is to fill any gaps in Medicare coverage.
Despite being around for decades and being the most popular supplement plan on the market, it will be disappearing in 2020. Thanks to the Medicare Access and CHIP Reauthorization Act of 2015 (MACRA), also known as “doc fix” law, Medigap Plan F and C will no longer be available for purchase by people who are newly eligible for Medicare on or after January 1, 2020. For those who already have Plan C or F (or will become eligible for them prior to January 1, 2020), you can still keep these plans or purchase them in the future. The biggest change is for people who are now no longer able to purchase the plan. These people should start searching for how they can adjust their Medicare coverage.