First things first…. IF YOU HAVE A PLAN F OR C NOW, YOU WILL NOT LOSE YOUR COVERAGE! (In a sense you will be “grandfathered” in.)
On January 1, 2020, Medigap Plan F and Plan C will no longer be able available to purchase. They will be removed from the Medigap Plan Chart and you will have to choose another plan option for your Medicare supplement coverage.
Why do you ask? To save money that’s why. Both these plans are essentially “full coverage” plans. Studies argue that people on Plan F have more doctor visits than those with other plans on the Medigap chart which are not full coverage. It is thought that the responsibility of paying a deductible would reduce government spending by nearly $400 million within 5 years.
If you are enrolled in Plan F currently or enroll by December 31, 2019, you will be “grandfathered” into the plan for the rest of your life. However, be aware Plan F and Plan C premiums could and most likely will rise after 2020. These plans won’t be gaining young, healthy individuals which offset the cost of claims and therefore insurance companies could request substantial rate increases.