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Medigap Plan F or Medigap Plan G?

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On Jan. 1st, 2020 anyone who isn’t already 65 will not be allowed to purchase a Medigap Plan F. So for any of you that will not be 65 by then, this piece will not affect you.  However, for those that have already turned 65 or will in the next 2 years, please listen closely.

In 2015 the United States Congress passed the MACRA (Medicare Access and CHIP Reauthorization Act). While this legislation deals with many issues, preventing new Medicare recipients who turn 65 after Jan. 1st, 2020 from purchasing a Medigap Plan F is our focus today.

Since 2015 a rising argument that Medigap Plan F is going away so Medicare recipients should buy Medigap Plan G has grown to an ever louder crescendo. You can even find You Tube videos extolling the Medigap Plan G and putting the Medigap Plan F in its proper grave. Suggesting to seniors that if they don’t switch to Plan G, they will be stuck in a closed risk pool and their premiums will skyrocket is just wrong and dishonest. Much of this is a scare tactic by unscrupulous agents trying to garner business through unsuspecting seniors.

So here are the facts:

Plan F Isn’t Going Away

  • Plan F isn’t going away. If you turn 65 before Jan 1st, 2020 you can still purchase a Plan F now and in the future. If you already have a Plan F it will NOT be taken away, and you can even change companies if you desire.
  • Companies can still sell Plan F to anyone who turned 65 before Jan 1st, 2020. So the risk pool will remain open unless the individual company decides to no longer sell Plan F.
  • Closing a risk pool has happened in the past and will happen in the future, often by the biggest carriers in the Medicare Supplement industry. This includes Plan G!
  • Depending on the State you live in and your personal situation Plan G may be the right option or Plan F may be as well.

Get Informed Before Choosing a Medigap Plan

Don’t be scared into making your Medigap choice. Get all the information you need by downloading the Free Report “5 Key Benchmarks to Use When Choosing your Medigap Policy”. This will allow you to make an informed decision that benefits you, and not some individual who convinced you the sky is falling.

 

Free Report “5 Key Benchmarks to Use When Choosing your Medigap Policy”