First of all, Medicare Supplement (Medigap) Plan F is not going away! If you have a Plan F, you are what’s typically called“ grandfathered in”, and get to keep your Plan F.
We’ve heard for the past few years that Medigap Plan F will not be available after the year 2020. There will still be several other Medigap plans available after the cut-off date. For example, Plan G is the next most popular plan and will be continued to be offered to new, turning-age-65, enrollees.
Depending on circumstances, you can still get a Plan F after 2020.
First, if you already have Part A and B of Medicare, and your start dates are before 2020, you can still switch to Plan F, even after 2020. If you want to switch, keep in mind that Medigap carriers require medical underwriting and you’ll have to answer medical questions to qualify. No physical, just answering the medical questions. If you develop a Chronic Medical condition, Medigap plans will not allow you to switch. When it is your initial enrollment (your first time enrolling in Medicare), you can enroll in any Medicare health plan with no questions asked.
Second, if you have your Part A before 2020, you’ll still be able to get Plan F. For example, let’s say you are continuing to work after you turn 65 and you got your Part A of Medicare before the cutoff date of 2020. In later years when you activate your Part B of Medicare, you’ll still be able to get Plan F.
Third, if you are already on Plan F and switch to another Medigap plan, you will still be eligible to switch back to Plan F. Of course, you will still need to qualify by answering the medical underwriting questions. The medical questions and underwriting will occur when you switch fromanyMedicare Medigap plan to another.
Medicare Advantage Plans only ask one medical question; End Stage Renal Disease, AKA Kidney Dialysis. Otherwise, you can switch from one Medicare Advantage Plan to another during the Annual Election Period (AEP), October 15th through December 7th, with your new plan starting January 1, of the new year Part D drug plans follow the same rule as Medicare Advantage Plans, in that you can elect a new Part D drug plan to go with original Medicare and/or a Medicare Medigap during the AEP. Drug plans do not ask medical questions, but you should shop Part D plans each year, as the monthly premiums, deductibles, and the formularies change year to year on the plans. The Formulary is the list of prescription medications covered on the plan.
In a nutshell, folks turning 65 after 2020 will not have the option of enrolling into Plan F. Current age 65+ folks still have the option.
Still have questions? Call us, we can help!