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There seems to be a lot of confusion with the Plan F now that it\\u2019s 2020. In this video, Robert Bache \\u201cMedicareBob\\u201d will be breaking down what is going on with the Medicare Supplement Plan F for 2020.

First topic is \\u201cCan you keep your Plan F?\\u201d The answer is Yes, if you have the Plan F or Plan C before January 1st, 2020 you will be grandfathered into those plans.

Medicare\\u2019s website states:

\\u201cStarting January 1, 2020, Medigap plans sold to new people with Medicare won\\u2019t be allowed to cover the Part B deductible. Because of this, Plans C and F will no longer be available to people new to Medicare starting on January 1, 2020. If you already have either of these 2 plans (or the high deductible version of Plan F) or are covered by one of these plans before January 1, 2020, you\\u2019ll be able to keep your plan. If you were eligible for Medicare before January 1, 2020, but not yet enrolled, you may be able to buy one of these plans.\\u201d https://www.medicare.gov/supplements-other-insurance/how-to-compare-medigap-policies

The next topic is \\u201cShould you keep your Plan F?\\u201dThere has been some serious debate on whether or not you should keep the Plan F or switch to the Plan G or Plan N. The Plan F is a great plan, however with the changes that have been made to the plan, it is not the most cost-effective Medicare Supplement plan.

1. Medical Underwriting. Most people do not realize that in order to switch any of the Medicare Supplements you must medically qualify. Many people are saying they want to wait to switch because they want to wait to see if the premiums will increase with the Plan F.  However, if in a year or more you want to switch, it may not be possible because of health reasons. Now, if you already have the Plan F and have pre-existing conditions, you should definitely keep it because the coverage will be much better than a Medicare Advantage plan which will most likely be the only plan you will qualify for.

2. Part B Deductible Increasing. The Part B Deductible is likely to continue increasing. This will also cause the Plan F Premiums to increase at a higher rate than Plan G or Plan N. Let me explain: Imagine that Plan F, Plan G and Plan N all have one million people in each plan and the Part B deductible increases by $20. The one million people in the Plan G and Plan N all pay their own deductible so the insurance company is not going to have to pay any more money for the clients in those two plans. However, the one million people in the Plan F have their deductible paid by the insurance company. So, the Plan F is going to cost the insurance company $20 million more that year because of that increase in the Part B deductible. Who do you think will pay for that? Definitely not the carrier.

3. Guaranteed Issue plan. The Plan F is still going the be the G.I. plan for anyone that is able to purchase the Plan F before January 1st, 2020. Over the next 10 years, anyone that qualifies for a G.I. plan will still be a much older group of people than the Plan G. Statistically, the older we get the more we will go to the doctor/hospital. The more claims in any plan, the higher the premiums.

If you have any questions regarding Medicare, please give our office a call at 1-855-368-4717 or visit one of our pages:

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