What is MACRA?
MACRA stands for the Medicare Access and CHIP Reauthorization Act. This Act represents major reform for how individuals receive Medicare treatment and what Medicare Supplement options are available.
What Does MACRA Do?
Changes for Physicians and Patients
Congress passed MACRA to promote better physician accountability and overall healthcare quality. MACRA required the Centers for Medicare and Medicaid Services (CMS) to implement the Quality Payment Program. The Quality Payment Program affects how physicians are paid for providing services to individuals covered by Medicare.
Changes for Medicare Supplement Coming January 1, 2020
MACRA will also start a “phasing out” process of Medicare Supplement Plans that cover Original Medicare’s Part B deductible.
The phasing out process will stop insurers from enrolling NEWLY eligible individuals into Medicare Supplement Plans C, F, and high-deductible F, but individuals ALREADY eligible will still have these options.
Conclusion: Who Does MACRA Affect?
Individuals eligible for Medicare BEFORE January 1, 2020 will have Medicare Supplement Plan options A, B, C, D, F, high-deductible F, G, K, L, M, and N.
If you are eligible for Medicare ON or AFTER January 1, 2020, you will have the following Medicare Supplement Plan options: Plans A, B, D, G, K, L, M, and N – Plans C, F, and high-deductible F will no longer be part of your options.
Currently, Medicare Supplement Plan G offers the coverage closest to Plans C, F, and high-deductible F.
You can view a quick comparison chart of the current Medicare Supplement Plans here.
For information on the products ManhattanLife offers, contact our Medicare Supplement Specialists by phone (800) 369-3600 or email firstname.lastname@example.org. Our Specialists are always happy to discuss your individual circumstances and suggest a plan that can meet your needs.
Visit our website at medigap.manhattanlife.com/wula for more information, to chat live with an expert, or to receive your free quote on Medicare Supplement plans offered in your state.