Recently we’ve been receiving many questions in regard to the upcoming 2020 MACRA (Medicare Access and Chip Re-Authorization Act) changes. We wanted to take the opportunity to help clear up any confusion around the changes taking effect January 1, 2020.
Here are the main points to remember:
- “Newly Eligible” as defined by the legislation, is anyone who turns 65 on or after January 1, 2020 or anyone who is eligible for Medicare benefits due to disability or has ESRD on or after January 1, 2020.
- Your “Newly Eligible” members WILL NOT be able to purchase Plan C,F, and high-deductible F. 2020 MACRA changes prohibit plans from offering Part B deductible coverage.
- Plans D and G will be the new guaranteed issue plans for “Newly Eligible” members.
- Anyone who turns 65 or becomes eligible for Medicare before January 1, 2020 can still enroll in Plan F, High Deductible F and Plan C, even after January 1,2020.
- Members who are already enrolled to Plan F, High Deductible F or Plan C prior to January 1, 2020 DO NOT need to change their plan. These members do not have a guaranteed issue right to change plans, must be underwritten.
- High Deductible Plan G, new plan option starting in 2020, anyone can enroll into this plan regardless of when they turned 65 or started receiving Medicare
In case we’ve missed anything or if you have additional questions please email: DoitForMEInsurance@gmail.com
*Courtesy of Joe DiNardo from Custom Benefit Plans, Inc. DoitForMeInsurance.com is a Custom Benefit Plans, Inc. independent broker.