There are plenty of big changes in 2020 when it comes to Medicare. These changes impact all current and future beneficiaries. Changes range from coverage, plan options, and so much more. In this context, you’ll learn which plans are going away, cost changes, and how we can help you.
Keep reading to review these changes!
Medicare Changes in 2020
First Dollar Coverage Plans are Going Away
In 2020, there are no more first-dollar plans available to those Medicare-eligible after 2020. First-dollar coverage plans are Medicare Supplement Plans that leave you with zero out of pocket costs.
The three Medicare Supplement Plans considered first-dollar coverage plans are:
The Medicare Access and CHIP Reauthorization Act of 2015 eliminates all Medigap Plans that cover the Part B deductible.
The reason for the change is due to some members of Congress believing Medicare beneficiaries are over-using healthcare services.
With no out of pocket costs, playing it safe was priceless.
By making everyone meet the Part B deductible, legislators hope to prevent recipients from going to the doctor for every minor ailment.
Critics argue that the deductible may keep people from getting the care they need. When people don’t see a doctor, they can end up with serious conditions down the road.
Will Plan G Accept Guaranteed Issue If You’re Newly Eligible
Another important fact, MACRA is making both Plan G and Plan D Guaranteed Issue plans for “newly-eligible” beneficiaries not able to sign up for Plan C or Plan F.
Remember, if you’re eligible before 2020, you’re still eligible for a Guarantee issue with Plan C and Plan F.
New High Deductible Plan G Coming in 2020
Even though Plan F High Deductible is not a first-dollar coverage plan, it’s being discontinued since it’s a plan that falls under Plan F.
The good news is, there’s a new high-deductible plan coming in 2020, High Deductible Plan G. In 2020, any beneficiary can sign up for High-Deductible Plan G.
Medicare Cost Increases for 2020
What are the Medicare Premiums for 2020
CMS officially announced the increases, the 2020 Medicare Part B premium will be $144.60. That’s an increase of $9.10 from 2019.
For those that collect Social Security or Railroad Retirement Benefits, this amount will be automatically deducted from your monthly benefits check.
What is the Medicare Part B Deductible for 2020
Medicare Advantage Changes for 2020
Due to the Bipartisan Budget Act, Medicare Advantage plans will be undergoing a few changes. Starting in 2020, Medicare Advantage plans will begin offering supplemental home health benefits.
Further, 2021 Medicare Advantage plans are supposedly going to cover End-Stage Renal Disease patients. Right now, End-Stage Renal Disease is the only condition that prevents people from enrolling in Part C.
COVID-19 and Medicare
The coronavirus has caused a lot of uproar across the world. Thankfully, Medicare does cover testing. But, they don’t cover treatment since there is no known cure.
In 2020, it’s important to keep our health in check. That means making sure we take preventive measures and use telehealth when possible. Since telehealth is more essential now, Medicare is waiving restrictions on telemedicine services.
Medicare will even provide a Special Enrollment Period opportunity to those that miss their enrollment period due to COVID-19.
Compare Medicare 2020 Rates
At MedicareFAQ, our mission is to help you find the best Medicare coverage at the best price. We strive to keep our clients informed on any changes regarding their Medicare benefits.
Let us research the top insurance companies in your area to find you the best rates on Medicare Supplement policies. Whether you’re inquiring for yourself or a loved one, our services are 100% free.
Give us a call or fill out our rate comparison form to get started.