During “Open Enrollment” Medicare Supplements should be shopped too

The annual Election period, often known as “Open Enrollment” starts October 15th and runs until December 7th and is the opportunity for Medicare beneficiaries to shop their Medicare Advantage and Prescription Drug Plans.

Continental Crest Insurance Services, P.C. also recommends that Medicare Beneficiaries shop their Medicare Supplements coverage. Particularly if a Medicare Beneficiary has a Plan F, Plan C, or Plan HDF.

On January 1st, 2020, provisions of a Federal law abbreviated MACRA went into effect that has impacted Medicare Beneficiary eligibility for certain Medicare Supplements.

“Many Medicare Beneficiaries have heard that Plan F has ‘gone away’. Technically it has not,” says JaDell Hovander, President of continental Crest Insurance Services, P.C. “However, the eligibility rules for Medicare beneficiaries to apply and purchase a Plan F, Plan C, and Plan HDF have changed. I believe these rule changes have important effects that you need to be aware of.”

To summarize the changes:

  • If a Medicare Beneficiary received Medicare Part B before January 1st, 2020, then they can apply for Plan F, Plan C or Plan HDF and will always be able to.
  • If a Medicare Beneficiary received Medicare Part B AFTER January 1st, 2020 then they are not able to apply or receive a Plan F, Plan C or Plan HDF and will never be able to.

So, what does this mean for someone who already has a Plan F, Plan C, or Plan HDF Medicare supplement?

“At Continental Crest Insurance Services, P.C., our opinion is, if you currently have a Plan F, Plan C, or Plan HDF you should seriously consider changing to another plan if you are able to do so,” says JaDell Hovander.

“The eligibility rule changes by MACRA prevent new and younger, Medicare beneficiaries coming into Plan F, Plan C, and Plan HDF. As a group Plan F, Plan C, and Plan HDF policyholders will steadily become older and older and typically sicker and sicker. Therefore, we believe it is likely companies with Plan F, Plan HDF, and Plan C policies on their books will need to raise rates faster, for those plans than other Medicare Supplement Plans to maintain financial stability.”

Give Continental Crest Insurance Services, P.C. a call or use their online scheduling tool for a free no-obligation consultation today from a local Medicare Supplement Broker.


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