Medicare 2020: Medigap Plan F Is Gone?
The Medicare policy is always changing, but this year users may be faced with a tremendous change. Medicare Plan F is the most comprehensive Medicare Supplement plan, but starting in 2020 the plan will not be available to everyone enrolled in Original Medicare. It would instead leave its users without any medical or health insurance coverage.
The group of people that will be affected most by this change are pensioners. In case, Plan F gets cancelled, older adults will have fewer choices when it comes to insurance policies. Moreover, they will have to pay higher expenses for lower levels of coverage.
Millions of seniors around the country will be left without insurance coverage if Plan F is canceled in 2020.
What Is Plan F?
Medicare Plan F is particularly helpful in covering the healthcare benefits of seniors. Generally income decreases after retirement, so for those living on a fixed income, choosing a Medicare Supplement insurance plan with the most benefits can reduce what they pay for healthcare. In most cases, Medicare Supplement Plan F results in $0 out-of-pocket because it pays all the gaps in Original Medicare.
eHealth Medicare states that Plan F provides the most comprehensive benefits out of all the insurance plans they have.[1]
Plan F covers all of the expenses given below:
- Part A hospital deductible
- Part B outpatient deductible
- Medicare Part B 20 percent coinsurance and copayments
- Coinsurance for services in skilled nursing care facilities
- First 3 pints of blood
- Coinsurance and copayments for hospice car
- Part B excess charges
Through Plan F one can choose any doctor or physician in the US. Other than that there is no referral required. Furthermore the coverage can never be cancelled due to health issues or the number of claims one file. Despite being the most pricey out of all the Medigap plans, Medicare Plan F is one of the most popular options. According to eHealth Medicare, Plan F is a good option for people who visit the doctor often or need frequent therapy.[2]
Why Is Plan F Going Away?
The government plans to abolish both Medicare Plan F and Plan C, and here’s why.
Every once in a while, Congress makes changes to the Medicare supplement plans. According to congress.gov, starting in 2020, Medicare Supplement plans that pay the Medicare Part B deductible will no longer be sold to those newly eligible. This change is part of the Medicare Access and CHIP Reauthorization Act of 2015 (MACRA). But those who already have Medicare Supplement Plan F (or Plan C, which also covers the Part B deductible), can generally keep it. Secondly, those who are eligible for Medicare before January 1, 2020, may be able to get Medicare Supplement Plan F or Plan C.
Boomer Benefits reports that four other Medicare Plans ended between 1990 and 2010.[3] This change to Medicare Plans F and C is Congress’s attempt to motivate doctors to stay in the Medicare program and provide treatment to Medicare users. Boomer Benefits calls this the “doc fix law” as it is aimed at ensuring doctor’s get paid fairly for seeing Medicare patients.[4]
How to Purchase Medicare Plan F?
The only way to get any Medicare Supplement insurance plan is to purchase it through a private insurance company. The purchasing amount of Medicare Supplement Plan F will vary depending on where a person lives. According to Boomer Benefits reports, the changes will affect Medicare users in 2020.[5] Their findings show that qualifying for Medicare on January 1, 2020 or later, one may not be able to get Medicare Supplement Plan F or Plan C.
Is there another Medicare Supplement plan that may be comparable?
Worried about the disappearance of Plan F? Take action before it’s too late. Adjust the Medicare coverage plan to suit certain individual needs.
Fortunately, several other Medicare Supplement plans are available that cover a good portion of the expenses Plan F once covered. Medicare Supplement Plan G generally has the same basic benefits as Plan F, except for the Part B deductible.
Conclusion
A Medicare Supplement insurance plan is an excellent way to protect us from high medical expenses. One can only apply for Medicare Supplement insurance after they have enrolled in Original Medicare. For current Medicare Plan F users and those who qualify for Medicare during 2019, there will be no significant changes. Only new Medicare users in 2020 will be unable to get Plans F and C. We still advise doing proper research about the expenses of Medicare. Changes that the government makes to healthcare plans can drastically impact their price.
[1]https://www.ehealthmedicare.com/medicare-supplement-articles/medicare-supplement-insurance-plan-f/
[2]https://www.ehealthmedicare.com/medicare-supplement-articles/medicare-supplement-insurance-plan-f/
[3]https://boomerbenefits.com/is-plan-f-going-away/