Is a Medicare Supplement Plan Right for You in 2024?
If you’re one of the nearly 60 million Americans currently enrolled in Medicare, you may be wondering how the program will change in 2024. While we don’t know everything that will happen in the next four years, we do know that there will be some changes to Medicare Supplement Plans 2024. Click Here what you need to know about what’s coming down the pipeline.
The first change that you’ll see is the elimination of Plan F. Currently, Plan F is the most popular type of Medicare Supplement plan, as it covers all of the out-of-pocket costs not covered by Original Medicare (Parts A and B). However, starting in 2020, new enrollees will no longer be able to sign up for Plan F. If you’re currently enrolled in Plan F, you’ll be able to keep your coverage until 2028.
Starting in 2020, Medicare Supplement plans will also cover more preventive services. These services, which are designed to help you stay healthy and catch problems early, include things like screenings for cancer and diabetes, as well as vaccinations.
In addition, starting in 2022, Medigap plans will cover telehealth services. Telehealth allows you to receive health care from a provider via video chat or phone call, which can be especially helpful if you live in a rural area or if you have a disability that makes it difficult to leave your home.
Finally, one of the biggest changes coming to Medicare Supplement plans is the standardization of benefits. Currently, there are 10 different types of Medigap plans available, each with its own set of benefits. However, starting in 2024, there will only be three types of plans available: Plan A, Plan B, and Plan C. While the benefits offered by these plans will be standardized nationwide, the premiums that you’ll pay for coverage may vary depending on factors like your age and where you live.
How Much Will Medicare Supplement Plans Cost?
The cost of Medicare supplement plans will vary depending on the insurer and the specific plan benefits that are included. However, experts estimate that the average monthly premium for these plans will be around $150.
There are a few changes coming to Medicare Supplement plans in 2024, but don’t worry—the changes are mostly positive! If you’re currently enrolled in Plan F, you’ll be able to keep your coverage until 2028. In addition, all Medigap plans will cover more preventive services and telehealth services starting in 2022. Finally, there will only be three types of Medigap plans available starting in 2024: Plan A, Plan B, and Plan C. While the benefits offered by these plans will be standardized nationwide, the premiums that you’ll pay for coverage may vary depending on factors like your age and where you live.
If you’re covered by Medicare, you can expect to see some changes to your coverage in 2024 with the introduction of Medicare supplement plans. These new plans are designed to fill in the gaps in traditional Medicare coverage and will be available from a variety of different insurers. While the exact cost of these plans has not yet been determined, experts estimate that they will have an average monthly premium of around $150.