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Medicare Supplement Plans C & F for Newly Eligible starting 1/1/2020 NOT Available


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For those newly eligible for Medicare starting on 1/12020 Medicare Supplement plans C & F will NOT be available.  This is age and disability eligibility restriction only.  That is if you turn 65 on or after 1/1/2020 or become eligible (disability is an example) on or after that date you can not enroll in Plans C or F.  

If you already have Plan C or F you may continue with your current plan.  

Link to more details:  https://www.ahip.org/medicare-supplement-in-2020/  There is a PDF file to download with good info..  

This may be old news. I just received a notice from my insurance company about the changes, so thought I would share the info.

Edited by Al F

Al & Sharon
2006 Winnebago Journey 36G 
2020 Chevy Colorado Toad
San Antonio, TX

http://downtheroadaroundthebend.blogspot.com/

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Plan G has the exact same benefits as F, except G doesn't pay the Part B deductible, currently $185 annually. In recent years the premium difference for F Plans has been more than the deductible amount, making the G plan more attractive. The amount of difference in premiums for G vs F, varies by state and insur provider.

Jim

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On 8/7/2019 at 6:51 PM, JRP said:

Plan G has the exact same benefits as F, except G doesn't pay the Part B deductible, currently $185 annually. In recent years the premium difference for F Plans has been more than the deductible amount, making the G plan more attractive. The amount of difference in premiums for G vs F, varies by state and insur provider.

Exactly our experience. We had plan F but shifted to plan G when the premium savings exceeded the Medicare deductible. 

Good travelin !...............Kirk

Full-time 11+ years...... Now seasonal travelers.
Kirk & Pam's Great RV Adventure

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It depends on the Insurance Company, location, age, etc.  In my case, Plan F is still cheaper than Plan G plus the deductible.  It only makes sense to eliminate one of the plans so we don't have to do this dance every year to see which one to choose.

Everybody wanna hear the truth, but everybody tell a lie.  Everybody wanna go to Heaven, but nobody want to die.  Albert King

 

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Question for those of you that know the insurance business. With plan F discontinuing new enrollees soon, should we expect the premiums to accelerate faster than G as the F plan enrolled population ages. 

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Jim & Wilma

2006 Travel Supreme 36RLQSO

2009 Volvo VNL730, D13, I-shift, ET, Herrin Hauler bed, "Ruby"

2017 Smart

Class of 2017

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  • 3 weeks later...

Not a Medicare expert but agree have heard about the changes below and Plan G will hit alot of folks the best coming up. Also, if you had a previous HSA, the new MSA rules will apply after age 65 and the gov't will drop $3200 into your acct each yr. Not available in all states yet though..

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Hi Kirk, here's a link from my colleague here in Atlanta who advised me on this - https://www.pbs.org/newshour/economy/making-sense/column-why-these-unique-medicare-advantage-plans-are-poised-for-popularity

Again, I'm not the Medicare expert...under 65 is my niche. But happy to put you in touch with him if you need add'l info. These plans aren't for everyone, but if healthy appears to make alot of sense.

Happy Labor Day!

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9 hours ago, Brian Boss said:

a link from my colleague here in Atlanta who advised me on this

After reading it there is nothing there for me and itreally isn't a government contribution, but looks to work somewhat like the HSA. Thanks for the interesting link. 

Good travelin !...............Kirk

Full-time 11+ years...... Now seasonal travelers.
Kirk & Pam's Great RV Adventure

            images?q=tbn:ANd9GcQqFswi_bvvojaMvanTWAI

 

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On 8/31/2019 at 5:54 PM, Kirk W said:

After reading it there is nothing there for me and itreally isn't a government contribution, but looks to work somewhat like the HSA. Thanks for the interesting link. 

Actually, I think there is a government contribution.  I clicked on some links, and for one plan, it says, "Medicare’s Yearly Deposit into Your Saving Account is $1,500."  For another plan, it says there's a $2,250 "deposit," and for yet another plan, the deposit from the plan is $2,400.  But I didn't see $3200 anywhere.  Where did you get that number, Brian Boss?

 

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Hi Blues, 

Again, I'm not the Medicare expert but was provided the below by my friend and colleague Greg at the 'Medicare Caddy' outfit - www.medicarecaddy.com. It looks like the rules for 2020 have changed, and more states are in play for this - I think up to 27. Lasso Healthcare will be administering.

The Trust/Custodial Savings Account


Administered by Optum Bank, but the member makes all the decisions. Let’s cover the trust/custodial savings account portion first. Lasso Healthcare has partnered with Optum Bank, a market leader in health savings and spending accounts. When enrolling, the applicant will apply to open the savings account in addition to enrollment in the health plan; both our electronic and paper
enrollment kits contain both enrollment materials for ease.
Once CMS sends us the member funds and the member’s savings account is established, Lasso Healthcare will deposit the funds early in the member’s effective coverage period. The deposit amount is the same for every plan design/region. The deposit amount is prorated based on when coverage begins, and is prorated the same amount as the deductible. The monthly prorated amount is $210 for 2019 and $270 for 2020. The table below shows the number of prorated months to be applied, based on the effective month:
JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC
0 mos. 1 mo. 2 mos. 3 mos. 4 mos. 5 mos. 6 mos. 7 mos. 8 mos. 9 mos. 10 mos. 11 mos.
$3,240 - ($270 x 0 mos.) = $3,240 deposit (Jan 1 enrollment)
$3,240 - ($270 x 7 mos) = $1,350 deposit (Aug 1 enrollment)

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Those numbers are your monthly premium paid to Medicare. Or deducted from your monthly benefit.  Unless you are in perfect health and expect to stay that way for the rest of your life, 30 or more years. I will stay with my original Medicare with a supplement. Plan F for now, maybe G later.

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34 minutes ago, Sehc said:

Those numbers are your monthly premium paid to Medicare. 

Hi Sehc,

No, the $3240 is deposited each year into your MSA account, and is yours to keep - not 'use it/lose it.' These are Medicare Advantage plans (MA):

Premium
By law, MSA plan premium is $0. As with all MA plans, the member must continue paying their Medicare
Part B premium.
Coverage
All additional Medicare A/B services are covered 100% after the member reaches the plan deductible.

Granted, these plans are not for everyone and you should be fairly healthy and/or able to self-insure a big deductible. But, you may still change plans each year if you wish at AEP.

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I think you should go back and read the fine print. The money in the 'account' can be only used for medical expenses. It is the insurance company's money. Not the insured. It is the medicare premium paid by the insured. If changing from the plan, the money goes to the company. Not the insured. It is really spend it or lose it.

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For all those discussing the pros and cons of this plan, it would very useful to go to Medicare.gov and read what the official web site has for rules and payments.  https://www.medicare.gov/sign-up-change-plans/types-of-medicare-health-plans/medicare-medical-savings-account-msa-plans 

It kind of seems like much if not all the discussion is based on info from non Medicare.gov sources.  

Note, I have not read or researched the MSA plans.  Just recommending that those interested, try to find out as much as possible from Medicare.gov and then go to companies offering the product and see if what they offer is better than what they have now. 

 

Al & Sharon
2006 Winnebago Journey 36G 
2020 Chevy Colorado Toad
San Antonio, TX

http://downtheroadaroundthebend.blogspot.com/

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14 hours ago, Al F said:

Note, I have not read or researched the MSA plans.  Just recommending that those interested, try to find out as much as possible from Medicare.gov and then go to companies offering the product and see if what they offer is better than what they have now. 

I agree with this comment and would add that the MSA has no connection to an existing HSA. I have an HSA that is funded by my previous employer to help me in purchasing a Medigap policy(supplemental policy) and for us it pays most of our premiums for our plan G supplement but not quite all. It would be nice to have some governmental donation but..................  😏

Good travelin !...............Kirk

Full-time 11+ years...... Now seasonal travelers.
Kirk & Pam's Great RV Adventure

            images?q=tbn:ANd9GcQqFswi_bvvojaMvanTWAI

 

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18 hours ago, Sehc said:

I think you should go back and read the fine print. The money in the 'account' can be only used for medical expenses. It is the insurance company's money. Not the insured. It is the medicare premium paid by the insured. If changing from the plan, the money goes to the company. Not the insured. It is really spend it or lose it.

Sehc,

I have read the fine print and you are continuing to spread false information. I suggest you get in touch with a Lasso rep or other provider to read ALL of the fine print and make an informed decision. Here is some fine print you may have overlooked:

Members can spend, save and/or invest their MSA funds.
MSA funds can be used for any expense, medical or otherwise, but there are special rules on what expenses
count toward the plan deductible and how they’re taxed. Qualified Medical Expenses (QMEs) are defined by
the IRS or Internal Revenue Service. All Medicare A/B expenses are QMEs, but not all QMEs are Medicare
A/B expenses. Therefore, not all QMEs count toward the health plan deductible, even though MSA funds
spent on any QMEs is tax-free. See IRS publication 502 for a complete list of expenses deemed as QMEs.

MSA funds are not “use it or lose it.”
Generally speaking, once deposited, MSA funds belong to the member.
Remain in the plan until the end of the calendar year
As long as the member stays in the plan until December 31, any unused funds from the current year’s
deposit amount belong to the member and roll over to the next year. If the member then renews with
Lasso Healthcare, the new year’s deposit amount is added to their account in early January; this is one way
members can grow their money over time.
If the member stayed in the plan through December 31, but does not renew with Lasso Healthcare, all MSA
funds in the account belong to and are retained by the member. They can keep the funds in their Optum
Bank account, subject to a monthly maintenance fee, or can move the funds to a custodian of their choice,
subject to a transfer fee. Contact Optum Bank for current fee amounts.
Leave the plan during the calendar year
If a member leaves during the calendar year, they owe a portion of that year’s deposit back to Lasso
Healthcare, regardless if they have the funds in their savings account or not. The member retains any
unused funds accumulated from previous years, and has the same option to keep the funds in their Optum
Bank account with a monthly maintenance fee or move funds to a bank of their choice with a transfer fee.

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You are quite the salesman. I don't believe the funds from the government are anything else than the money from the SS benefit payment. I don't believe those funds can be spent on anything other than the health expenses not covered by the high deductible policy. Those funds are not returned to the victim.

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3 minutes ago, Sehc said:

You are quite the salesman. I don't believe the funds from the government are anything else than the money from the SS benefit payment. I don't believe those funds can be spent on anything other than the health expenses not covered by the high deductible policy. Those funds are not returned to the victim.

Sehc,

I don't sell these plans, nor any Over 65 Medicare products. I do, however, know how to read & understand fine print...and am quite adept at identifying pettifoggers..

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The following quote comes from Medicare.gov website: Medicare MSA Plan Costs & Financial Considerations

Quote
expandHow can I use the money in my account?

 

You can use the money in your account for medical or non-medical expenses. However, only Medicare-covered Part A and Part B services count toward your deductible. Also, if you use the money in your account for non-qualified expenses, you must pay taxes and there may be additional penalties.

 

Good travelin !...............Kirk

Full-time 11+ years...... Now seasonal travelers.
Kirk & Pam's Great RV Adventure

            images?q=tbn:ANd9GcQqFswi_bvvojaMvanTWAI

 

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On 9/5/2019 at 9:07 AM, Sehc said:

I don't believe those funds can be spent on anything other than the health expenses not covered by the high deductible policy.

Instead of putting forth what we believe, how about some facts?  From the link Kirk provided, there's also this:

Quote

The plan will only pay for Medicare-covered services once you have reached your deductible. Before you meet the deductible, you're responsible for paying the bill for any Medicare-covered services. You have the option of using the funds in your account to pay these bills.

The MSA plan is designed to do exactly what you believe it does not do.

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