If you have a Medicare question you’d like answered, email it to AskRoger@SeniorMarketSales.com.
This week’s question deals with changes to Medicare for 2014.
I have my Mutual of Omaha contract with SMS. I need to know where I can find changes to Medicare for 2014. Many people are asking questions about agents coming to see them about these changes. Anything you can send me would help.
I can only guess as to what changes are coming to Medicare in 2014 at this point, but you expressed agents are seeing your clients about these changes. I will try to shed light on this subject and hopefully answer your questions.
You did specifically mention about a company that only carries Medicare Supplement so I will answer in that manner. The new Affordable Care Act (Obama Care) has largely unaffected Medicare Supplement, even though parts of it did require the National Association of Insurance Commissions to add cost sharing to Plans C and F. The NAIC considered the requirement for some 20 months and recommended no cost sharing at all. That proposal was accepted by Kathleen Sibelius, the U.S. Secretary of Health and Human Services in late May of this year.
If agents are telling your clients that their Plans C and F are changing, that simply is not true today. Prior to May 28, 2013, it was being widely speculated, but as of today, these Plans are safe from wild changes.
The proposal in the ACA stated that 1st dollar coverage caused over utilization of health care but the NAIC clearly pointed out in their letter that simply was not true. Making some seniors pay a higher deductible would cause some to drop coverage as they can afford the low monthly premium but not a large deductible. Thank you to the NAIC for keeping our seniors protected with low cost Medicare Supplement with no hidden unexpected charges.