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If you are shopping for Medicare supplement insurance, it is important to know the differences and similarities between the various standardized plans. Having your out-of-pocket medical costs taken care of can be a huge relief for those living on fixed incomes. While Medicare Supplement Plan F will be discontinued in 2020, your plan should not get canceled except in rare circumstances. Remember that if you already have Plan C or Plan F at the time it disappears, your coverage continues under that plan.

Now, if a plan stops accepting new, younger, 65-year old folks on Medicare, this risk pool” is now closed. It's not unusual to see insurance companies raise their Plan F rates by a couple of percentage points higher than their Plan G and N rates. Act now: If you are healthy and over age 65, it is important that you act now since you may have to go through medical underwriting in order to switch your Medicare Supplement Plan.

In a nutshell, discontinued plans can result in premium spikes. During this time, the insurance companies are not legally allowed to take your health into consideration when they issue your policy. In other words, they worry that anyone with Part B deductible coverage will run to the doctor for every sneeze or paper cut.

For further questions about enrolling in Medigap plans call one of our licensed independent insurance agents at 800-930-7956. You get what you pay for regarding zero-dollar premium plans.” Save time and money by sticking with Original Medicare and supplementing the benefits with a Medigap Plan & stand-alone Part D prescription drug plan.

In case a disaster does occur, such as a Is Plan F going away backup failure or power outage, make sure the appropriate data recovery plans are in place. Because you have been in remission for 8 years and assuming you have no other serious health conditions, you should qualify for coverage with most of the insurance companies.