Welcome back to the Weekly Wednesday!
Today we are going to be talking about The Medicare Access and CHIP Reauthorization Act of 2015 (MACRA). What exactly is MACRA and what will it be changing?
The main purpose of MACRA was to create more affordable healthcare for Medicare recipients. Medicare will be paying providers more to take better care of patients rather than see more patients. MACRA will bring more transparency from providers to their patients. Part of MACRA was the removal of Social Security numbers from Medicare cards.
MACRA is taking away the zero deductible Medicare supplement plans. If you turn 65 on or before December 2019 regardless if you have taken your Medicare or not you will still be able to purchase a Medicare supplement plan that covers the Medicare annual Part B deductible. These plans include Medicare supplement Plan C, Plan F, and High Deductible Plan F. If you turn 65 on or after January 2020 then you will not be able to purchase these Medicare supplement plans.
A new Medicare supplement plan will be available to all Medicare recipients. This is a Medicare supplement plan called High Deductible Plan G and it has a deductible of $2,300 for the year 2020.
We know this is all very confusing, and we are here to help you! 844.437.4253 Toll-Free