Changes to Medicare

 Are you aware of these changes?
Although Medicare Supplement policies will cease covering the Medicare Part B deductible for those enrolling in Medicare on or after January 1, 2020, state insurance departments are reporting that some Agents have begun telling policyholders they will be losing their plans now. To correct this misconception, several states have issued Bulletins or Consumer Alerts (see Florida Consumer Alert below).
To help with any confusion surrounding the Congressional changes to Medicare Supplement that will be implemented in January 2020, here are the facts:

  • Effective January 1, 2020, Medicare Supplement plans that include the Part B Deductible will no longer be available.
  • Effective January 1, 2020, Agents will be prohibited from selling Medicare Supplement plans that cover the Part B Deductible.
  • The prohibition will apply only to those who become enrolled in Medicare on or after January 1, 2020.
  • Current policyholders, and those enrolling in Medicare prior to January 1, 2020, will not be affected by this change, and do not need to replace their policy to retain their benefits.
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About robertjrussellcompanies

International Real Estate Agent * Insurance Broker * Radio Talk Show Host * Public Speaker * find out about me - visit http://www.robertjrussellcompanies.com
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