Heads up, Medigap policyholders: The Medicare Access CHIP Reauthorization Act from 2015 will impact your policy in 2020. There will be no new sales of Medigap C and F plans that cover the Medicare Part B deductible. You will be able to keep your C or F plan if you already have it, but your rates could change.
In Pennsylvania, about 350,000 Medicare supplement policyholders have plan C or plan F – roughly 56 percent of policyholders. Carriers probably won’t underwrite new C and F plans for those who feel young and healthy, meaning your rates could rise significantly if you fall under that umbrella.
Instead of getting caught up in the rate increases, you should consider switching plans now before the changes take effect. If you’re a plan C policyholder, think about converting to plan D. For plan F policyholders, it might make sense to move to plan G.
Make these switches while you’re still healthy and it’s still a cost-effective move. And be sure to stay on top of other Medicare options.
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