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    industry updates9

    Important and up to date news regarding the insurance industry.

    MACRA Update

    New rules took effect on New Year’s Day. The Medicare Access and CHIP Reauthorization Act of 2015 (“MACRA”) was signed into law on April 16, 2015. MACRA prohibits the sale of Medigap policies that cover Part B deductibles to “newly eligible” Medicare beneficiaries. Those affected by the change must pay the $198 Medicare Part B deductible themselves. ThinkAdvisor has an article you’ll find helpful. Click here to read it.

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    Important Reminder From Aetna

    ********** New Requirement for applications**********

    As you're completing applications with your clients, be sure to include the correct Medicare ID number, which is now the Medicare Beneficiary Identifier (MBI).

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    U65 Deadline Extended

    The deadline to enroll U65 clients has been extended until December 18th. You may resume enrolling clients starting at 3:00PM EST today.

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    SEP Notice for Individuals Affected by Severe Weather

    ****** BREAKING NEWS from HUMANA******

    A person must have had a valid election period during the time of the Incident Period that was missed in order to use this SEP.  AEP was not a valid election period during the Incident Periods listed below, so you cannot use this SEP simply because someone did not make an AEP election.

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    2020 Medicare Parts A & B Premiums and Deductibles

    On November 8, 2019, the Centers for Medicare & Medicaid Services (CMS) released the 2020 premiums, deductibles, and coinsurance amounts for the Medicare Part A and Part B programs.

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