MACRA
Understanding MACRA
MACRA goes into effect January 1, 2020, but this could start affecting your pitch for selling a Medicare supplement policy as early as July 1 if the carrier allows the client to sign the applicant up to six months prior to their 65th birthday.
A Guide to MACRA
Medicare Access and CHIP Reauthorization Act of 2015
What is the new rule, and what does it mean?
What is MARCA?
The Medicare Access and CHIP Reauthorization Act of 2015 (MACRA) is a federal law that affects plans that cannot be sold to newly eligible Medicare beneficiaries; they cannot purchase plans that cover the Part B deductible. (Medicare Supplement Plans C, F, or High-Deductible F. And standardized Part B deductible coverage plans in Massachusetts, Minnesota, and Wisconsin)
What does it mean?
If you are currently Medicare-eligible, you are not affected. You will not be affected if you become Medicare-eligible on or before December 31, 2019.
Newly eligible are those who first become eligible for Medicare due to turning age 65, disability, or end-stage renal disease on or after January 1, 2020.
Medicare eligible on or before December 31, 2019.
Your Medicare supplement options remain the same as today.
You can still purchase a plan that covers the Part B deductible. (Medicare Supplement Plans C, F, or High-Deductible F. And standardized Part B deductible coverage plans in Massachusetts, Minnesota, and Wisconsin)
If you currently have a Medicare Supplement policy, there are NO changes in your coverage. Your policy will continue as long as premiums are paid on time.
Newly eligible to Medicare on or after January 1, 2020.
Your Medicare supplement options will change.
You cannot purchase a plan that covers the Part B deductible. (Medicare Supplement Plans C, F, or High-Deductible F. And standardized Part B deductible coverage plans in Massachusetts, Minnesota, and Wisconsin)
When you select Original Medicare for your health care coverage, you can choose from many available Medicare supplement plans. Benefits will vary, but no plan will cover the Medicare Part B calendar-year deductible.
