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Retirement and Supplemental Plans

The Medicare Supplement Plan Locater can help you get fit for your Medicare insurance plan and allow you to be safe from economic crises when you need to be. It comes with a free plan for all over-65’s who qualify for Medicare while meeting the criteria for the federal program, if they also meet the requirements of the impairments described by the Centers for Disease Control and Prevention (CDC) or the Department of Health and Human Services.

It will not be offered to anyone who is not eligible for Medicare from January 1, 2020, but you are definitely eligible to purchase coverage during the break in the original Medicare insurance program. You can compare your strategies in this chart to ease your healthcare costs and be prepared for your Medicare insurance.

The good news is that if you are enrolled in Medicare Part A on December 31, 2019, and you have at least $1,000 in annual deductibles and out-of-pocket expenses, you can keep your Medicare coverage for the next three years. You can keep your health care costs for a family of four at just $2,500 a year, and up to $3,400 for an individual.

If you are eligible after the cut-off date, you can apply for this plan at any time until 31 December 2019.

You may be eligible to purchase Medicare Supplement plans 2021 if you have other health insurance, including Medicare Advantage or Medicare Supplement policies, or if your coverage is involuntarily lost. If you are entitled to guaranteed no-issue rights, you do not have the right to apply for new coverage under a standardized Medicare supplementation plan or to be subject to an insurer’s medical insurance criteria. You can also be assessed on the basis of your health, subject to insurers “criteria, unless you apply for a Medicare Supplement policy within the six-month open enrollment period.

For more information on rescheduling plans, see the Medicare Supplement Plan Reconciliation and Reassignment Guide for 2019-2020.

In an effort to reduce Medicare costs, people who join the program after January 1, 2020, will be able to choose a Medicare Supplement Plan that covers Medicare Part B deductibles. That law establishes that amendment to “try to reduce the unnecessary cost of Medicare” and eliminate the need for more expensive plans, such as those covered by Medicare Part B. In an attempt to try to reduce Medicare costs in 2019-2020 and 2020-2021, some individuals who join the programs on or after January 1, 2019, and individuals in the first two years of the new program in 2021-2022, will be able to select their Medicare supplement plan from a list of “Medicare Supplement” plans that cover deductible Medicare portions B and B.

Many people are eligible for the premium – free Medicare Part A – and lawmakers believe a lower deductible of $198 in 2020 will encourage them to go to the doctor only when needed, saving Medicare money. In 2020, Medicare Part A premiums will be $458, but Medicare Part B premiums will rise to $144 and $60 respectively for individuals in the first two years of the new program. Deductibles for Medicare Part B will rise to 198 in 2020 and 203 in 2021, with an additional $1,000 in premiums in 2022.

If you are eligible for Medicare on January 1, 2020, or expect to be for many years, you will not be affected by the changes to the Medicare Supplement Plan (Donut Hole), as Medicare has been a health plan for you for years.

In 2020, people newly eligible for Medicare will not be able to participate in Plan C or Plan F, and all three plans will not be offered to people enrolled in Medicare for the first time in 2020. The new law prevents all Medicare supplement plans from paying Part B deductibles. Medicare supplemental plans have a high deductible, but they are designed to be paid for with Medicare Part B deductible, which is $185 per member in 2019.

CMS Administrator Seema Verma and Kellyanne Conway, assistant to the president and senior counselor, saids that the administration was open to the possibility of looking to see if similar arrangements to cap co-pays could be made with other widely used prescription medicines used by seniors, as well as possibly making permanent some of the waivers, such as expanded use of telehealth, CMS has allowed in order to cope with the coronavirus disease 2019 (COVID-19) pandemic, on .

Asked about the timing of the announcement, coming during the COVID-19 crisis and amid various polls showing senior citizens increasingly disapproving of Trump, Conway rebuffed the notion that the deal was crafted in order to boost Trump”s support with this population. The plan had been in the works for some time, she said, and $50 was pinpointed as when seniors would stop using or curtail their use of insulin.

“We’re talking precription drugs here today and not politics, thank you,” she said.

If you already have Plan C or Plan F, there is no need to worry, as long as your insurer offers them as Medigap policies. In fact, insurance companies can offer them at the same rate as a Medigap policy, with lower deductibles and lower premiums.

Plan D (not to be confused with Medicare Part D) ceases paying Part B deductibles and excess burdens, and provides assistance with many costs that are not covered by original Medicare. In many ways, Plan D serves as a replacement for the coverage offered in Plan A and B, as well as the more comprehensive Plan C and Plan F. Plan F has long been the most popular option, and is also the most comprehensive of all plans, with coverage ranging from $1,000 to $2,500 a month for a family of four.