• Black Pinterest Icon
  • Black YouTube Icon

Introducing MACRA

March 12, 2019

 

 

Meet MACRA

 

In April of 2018, we posted an article about 

MACRA, which is a hot topic this year for the Medicare Supplement industry. Legislation and regulations can often be hard to understand, so we’re going to break it down into small pieces to help you get ready for the changes that will happen January 1, 2020.

What is MACRA?


The Medicare Access and CHIP Reauthorization Act (MACRA) is a federal law with changes to Medicare Supplement plans in all states, which goes into effect January 1, 2020.

What’s changing?

As of January 1, 2020:

  • Medicare Supplement plans with Part B deductible coverage (Plans C, F and high deductible F) cannot be sold to “newly eligible” Medicare beneficiaries.

  • The following guaranteed issue plans will be available for “newly eligible” Medicare beneficiaries: Plans D, G, and high deductible G (new!)

What is the definition of “newly eligible” Medicare beneficiaries?

 

Individuals who have attained age 65 or first become eligible for Medicare due to age, disability or end-stage renal disease on or after January 1, 2020.

How are current enrollees in Plans C, F, and High Deductible F affected by these changes?


Current enrollees (those eligible for Medicare prior to January 1, 2020) with Plan C, F or High Deductible F can keep their plan. And, they can continue to buy Plans C, F and High Deductible F after January 1, 2020. Current enrollees will also be able to buy the new Plan High Deductible G on or after January 1, 2020.

What will happen to high deductible plan options?


Since Plan High Deductible F cannot be sold to those “newly eligible” Medicare beneficiaries, a new Plan High Deductible G will be created. Plan High Deductible G will be available starting January 1, 2020. Both “newly eligible” Medicare beneficiaries and current beneficiaries will be able to buy the new Plan High Deductible G.

What will happen to Guaranteed Issue requirements?


Plans D and G will become two of the guaranteed issue plans for “newly eligible” Medicare Beneficiaries on or after January 1, 2020 (Plans C, F and High Deductible F of the current Guaranteed Issue plans will no longer be available for “newly eligible” Medicare Beneficiaries).

Current enrollees can remain with or buy Plans C, F and High Deductible F. Individuals who do not fall within the definition of “newly eligible” Medicare beneficiary will still be able to purchase Plans C, F and High Deductible F.

For more detailed information, you can review the NAIC implementation guidelines for MACRA.

 

 

 

As always, do something nice for someone just because.

 

 

All the best,

 

 

Randall J. Lawson

Owner/Agent

The HgO Group

803-851.0219 office

803-521-5581 cell

randy@thehgogroup.com

thehgogroup.com

National Producer Number #9276045

 

 

Don't forget to ask me about our Long Term Care, Cancer, Heart, Stroke, and Final Expense Policies.

 

Please reload

Our Recent Posts

August 22, 2019

July 4, 2019

Please reload

Archive

Please reload

Tags