If only purchasing Medicare was as easy as one-and-done. You spend a ton of time figuring out how Medicare plans work and choosing the best plan for you. Then, poof: The government makes one “simple” change and the dominos start to fall.
That’s what’s happened with Medicare Plan F and Plan C. To help seniors that choose traditional Medicare to handle charges not covered under the plan, Medicare recipients also purchase supplemental coverage, also known as Medigap.
Plan C and F are popular Medigap options available to help you pay for things like copays, deductibles, and coinsurance.
However, the plan is about to become extinct. In the recently passed Medicare Access and CHIP Reauthorization Act, the law includes a stipulation that outlaws both Plan C and Plan F. But it’s estimated that about half of people enrolled in Medigap plans have Plan C or F coverage.
There’s an easy solution to this coming change. During the next open enrollment period, you can enroll in Plan G.
It’s nearly identical to the coverage offered in Plan F and it offers the most comprehensive coverage available out of all the 10 Medigap plan options. The major difference between Plan F and G is that Plan G does not cover the deductible for Medicare Part B.
Here’s what else it covers:
- Medicare Part A hospital coinsurance for inpatient stays (once Original Medicare benefits are used up).
- Medicare Part A copayment or coinsurance for hospice care.
- Medicare Part A deductible.
- Medicare Part B copayment or coinsurance.
- Medicare Part B charges in excess.
- The first three points of blood within each year required for medical procedures.
- Coinsurance coverage for a stay at a skilled nursing facility.
- Emergency coverage for foreign travel.
While Medicare coverage can be confusing to figure out, it doesn’t help the matter when the government makes changes to the laws that dictate how Medicare coverage works. Making the simple switch from Plan C or Plan F to Plan G means you’ll maintain the same level of coverage.
For help understanding your coverage and to explore options like Plan G, contact InsureOne Benefits today! We’ll walk you through the options and help you select a plan that fits your needs and your budget.