27 November MACRA - Medicare Access and CHIP Reauthorization Act November 27, 2019 By Co-Editor Industry News, Medicare Supplement MACRA, medicare, medicare supplement, medigap, seniors 0 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. View a quick comparison chart of the current Medicare Supplement Plans here. Related Posts Unpacking Medicare Supplement: Part 1 Along with Medicare, Medicare Supplement or Medigap can give assist in providing more thorough health insurance. Join Maggie as she embarks on a five-part journey to better understand just how beneficial Medicare Supplement coverage can be. Unpacking Medicare Supplement: Part 4 Medigap Maggie's learning journey reaches its end and epilogue. Here, further details and potential scenarios are given, and questions are answered. Unpacking Medicare Supplement: Part 2 Maggie continues her quest to learn more about healthcare at age 65 and beyond. In Part 2 of our blog series, she discovers the myriad of details that make up this supplemental insurance. Medicare Supplement Plans and You - Know Your Options If you return to Original Medicare during the Annual Election Period (October 15th – December 7th), you could be eligible for a Medicare Supplement plan. Know your options. 17 Reasons Consumers Choose Medicare Supplement Over Medicare Advantage A list of the main reasons consumers choose a Medicare Supplement plan over a Medicare Advantage plan. What the 2020 Medicare Annual Election Period (MAEP) Means for You Also called Fall Open Enrollment, the Medicare Annual Election Period is one of two important periods for individuals eligible for Medicare. Comments are closed.