MACRA Policyholder Notification
There are Medicare changes going into effect
January 1, 2020 as a result of the Medicare Access and CHIP
Reauthorization Act of 2015 (MACRA). The Act prevents people who
are Medicare eligible on or after January 1, 2020 from purchasing
Medigap plans that cover the Medicare Part B deductible (Plans C,
F, and High-Deductible F). That means those Medicare
beneficiaries will not have a Medigap plan with first-dollar
coverage and will pay the Medicare Part B calendar-year
deductible themselves.
But what does this mean for those that are
currently Medicare eligible or will be prior to January 1, 2020?
With all the information that’s out there regarding MACRA, we
want to make sure Americo Financial Life (AFL) and Great Southern
Life (GSL) Medicare Supplement policyholders know the facts.
In the upcoming weeks, Americo will begin
communication efforts to all our Medicare Supplement
policyholders to help them understand the 2020 Medicare changes
and what this means to them and their current Medicare Supplement
insurance. Because current policyholders are already Medicare
eligible, this communication is meant to assure them that they
are not impacted by the changes in the law.
· If
they currently have a Plan C, F or High-Deductible F, they can
keep their plan;
· Those
who are Medicare eligible through December 31, 2019 may continue
to purchase Plans C, F and High Deductible F after January 1,
2020;
· Their
Medicare Supplement policy will continue to be in force as long
as premiums are paid on time; and
· They
can be confident their Medicare Supplement Plan C, F, or
High-Deductible F will continue paying their Part B deductible
Specifically, we want to assure them their plans
are safe with us and there is no need to make any changes. Should
they hear otherwise we encourage them to either contact us or
their agent before taking any action to replace their current
policies.
