Everyone should understand that Medicare is not a static government program, but is subject to frequent changes. So, it’s not surprising that new Medicare policy changes are planned for 2020. These modifications, which will affect all current and future Medicare beneficiaries, are discussed below.
Medicare Supplement Plans (AKA Medigap)
Under Medicare 2020 policy, Medigap Plans C and F (including High-Deductible F) will no longer be available. This is because Congress concluded that healthcare services are being overused because patients enrolled in these plans do not have any out-of-pocket costs. With the elimination of these two plans, all Medicare beneficiaries will have to meet the Part B deductible cost. Since Medigap Plans C and F are the only plans covering the part B deductible, all other Medigap plans will still be available.
This change only applies to new enrollees. Anyone enrolled in a Medigap Plan C or F as of December 31, 2019, will be “grandfathered” and can keep their plan as long as they want.
New Medigap High-Deductible Plan G (HDG)
This new plan is similar to High-Deductible F (HDF) except that the Part B deductible will not be covered. However, the $185 (the Part B deductible) will be applied toward the policy deductible. HDG is suitable for those who prefer a high deductible plan with a lower monthly premium.
Some Medicare Advantage policies will cover the cost of telehealthcare. Telehealthcare provides a beneficiary with the ability to consult a healthcare professional from the comfort of their own home. This service is especially helpful for individuals who reside in rural areas or those who have difficulty leaving home.
Donut Hole is Continuing to Close
The Donut Hole is the term that was coined to describe the gap in the Medicare Part D prescription drug coverage. The Donut Hole was meant to lower Medicare’s expenses. However, it has ended up doing more harm than good for beneficiaries who need medications that have no affordable generic options. The Donut Hole will not close completely, but the change means that out-of-pocket expenses will be significantly less. Going forward, beneficiaries will pay 25% of the brand name cost and 37% of the generic brand cost.
Which Plan is Best for You?
An Explanation of Benefits (EOB) is sent to Medicare recipients every year. The EOB reviews all aspects of Medicare plans, including Medicare 2020 policy costs for coverage and medications. Choosing the best Medicare plan can be complicated, so beneficiaries with questions or plan concerns should contact a Medicare agent for guidance. Comparing plans with the help of an agent can save beneficiaries time and money.
Does Medicare 2020 Policy Cover In-Home Health Care?
Unfortunately, Medicare only provides coverage for in-home health care on a very limited basis. However, private Medicare Advantage insurance plans may cover a wider range of services. If you need home health care and you live in the greater Columbia area, Caring Healthcare is here for you. We are staffed with qualified in-home care professionals to meet your home care needs. We would love to speak with you to discuss the kind of help required, so give us a call today