You may have read recently that Medicare Supplement Plan F will be eliminated by the year 2020. This bill was passed to eliminate “First Dollar Coverage”. But will you lose your Plan F if you already have it? The answer is No. But it may be wise to look at alternative plans even if you thought you weren’t in the market for a new plan.
When the year 2020 hits, people who are not on Medicare yet will be unable to purchase a Plan F, but for anyone who is already on Medicare, they will be able to still pick it up if they choose to.
The issue is, this means that as time passes, people that are on Plan F will get older and/or sicker, while younger individuals won’t be able to sign up for Plan F. This generally leads to higher yearly premium increases than other available plans. In the last year, I have already noticed that plan F is experiencing higher monthly premium increases compared to other plan letters.
I have advised many clients, across the U.S., to look at alternative plans such as Plan N or Plan G. In my next blog I will discuss the differences.
You can also call me at (800) 352-9745 to get further information or to find out which plans we offer.
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