Medicare Supplement Changes Will Introduce Two New Eligibility Groups

Insurance agents will begin to see the effects of Medicare Supplement changes quite soon! These modifications will go into operation on January 1, 2020. They could drastically change the way you do business and impact your clients who are looking to purchase a Medicare Supplement plan!

While 2020 might seem like a long way away, a smart agent always stays in the know and is prepared for what’s ahead. When determining which plans are the best fit for your clients, you’ll first need to figure out which group they fall into — newly eligible or non-newly eligible. We’re here to give you the rundown on both groups so you can feel confident you’re properly advising consumers.

As an insurance agent, you may or may not be familiar with the Medicare Access and CHIP Re-authorization Act of 2015, more commonly known as MACRA. MACRA is landmark legislation that introduced changes to how Medicare pays providers for seeing and treating traditional Medicare beneficiaries. But, what’s of most interest to agents and consumers is how these changes affect available Medicare Supplement plan options.

What You Need to Know About Med Supps in 2020

Which plan is right for your client will partly be determined by the category that best describes them. This new legislation changes who is considered newly eligible for Medicare Supplements and who is considered non-newly eligible for Medicare Supplements.

Read More.

Original Article on Agent Survival Guide by Lauren Hayden