December is the last month of the open enrollment period for Medicare, allowing beneficiaries to review and make changes to their coverage. To help you to make an informed decision, the team at our assisted living community in Gloucester County offers some important information on how Medicare is changing in 2020:
Major Changes to Medicare in 2020
The biggest change that will be implemented in the New Year is that there will be no more first-dollar coverage plans available to beneficiaries. These are also known as Medicare Supplement Plans, and they were designed to leave you with zero out-of-pocket costs. These plans included Plan C, Plan F, and High Deductible Plan F. This will only affect beneficiaries who apply for Medicare from January 2020 and who are considered eligible for Medicare. If you turned 65 before this date, you can still enroll in these discontinued plans.
The other significant change is that premiums for Medicare Part B will be increasing. Part B covers outpatient hospital care, doctor’s bills, and physical therapy among other services. As an optional extra that costs a monthly premium, the premium will go up for everyone by an amount dependent on your income.
Alternatives to First-Dollar Coverage Plans
If you only turn 65 after January 31, 2020, you cannot enroll in the first-dollar coverage plans. However, alternative options will keep your out-of-pocket costs low. In fact, the only difference between the new plans and the old ones is the Part B deductible ($195 as of 2019).
Alternatives to Plan C
Plan N – Plan N is a cost-sharing plan in which you have a co-pay of up to $20 for each doctor’s appointment and up to $50 per emergency room visit. If you are on Plan N and go to urgent care rather than your doctor or the emergency room, there is no co-pay.
Plan D – This offers the same protection as Plan C, with the exception of covering the Part B deductible. It has no co-pays.
Alternatives to Plan F
Plan G – This is the same as Plan F but does not cover the Part B deductible. It offers the best coverage for medical and hospitalization costs, including excess charges. It also offers a lower premium than Plan F. It’s ideal for seniors who want the fullest coverage.
Alternatives to High-Deductible Plan F
High-Deductible Plan G – This plan is now available for anyone who wants to sign up for an effective alternative to the High-Deductible Plan F. These services will only come into effect on January 1, 2020.
Medicare Premiums for 2020
Projected approximate Medicare premiums for 2020 are as follows:
Medicare Part B – $144 (an increase of about $8)
Part B deductible – $197 (an increase of $12)
Part A deductible – $1,420 (an increase of $56)
Looking for a Wonderful Assisted Living Community? Choose Assisted Living at Pitman, NJ
Pitman is an assisted living community in Gloucester County, NJ, offering high-quality, scalable assisted living services in a comfortable, well-supported, and beautiful environment. As part of the United Methodist Communities network, we also offer rehabilitation, access to therapists, compassionate hospice care, respite care, as well as memory care and support services. We welcome seniors from all faith backgrounds.
To find out more about our assisted living community, please visit our website at https://pitman.umcommunities.org/ or contact us today or book a personal tour.
Original content posted on https://umcommunities.org/blog/how-is-medicare-changing-in-2020/