Los Angeles, CA, March 29, 2019 --(PR.com
)-- MACRA changes impacting Medicare Supplement insurance next year will be a significant focus of the American Association for Medicare Supplement Insurance's 2019 National Medicare Supplement Insurance Summit.
"The Medicare Access and CHIP Reauthorization Act of 2015 (MACRA) will significantly change Medigap insurance marketplace and will be a major focus of this year's conference," announced Jesse Slome, director of the Association that organizes the industry conference.
Signed into law on April 16, 2015 MACRA prohibits the sale of Medigap policies that cover Part B deductibles to “newly eligible” Medicare beneficiaries. "Individuals who turn 65 on or after January 1, 2020 or those who first become eligible for Medicare due to age, disability or end-stage renal disease, on or after January 1, 2020 will be affected notes Slome.
"MACRA is a most significant change and we'll have experts speaking at the conference who are focused on explaining the latest developments," Slome notes. After January 1, 2020 there are possible fines, imprisonment of not more than five years, and/or civil money penalties of not more than $25,000 for each prohibited act.
The 11th National Medicare Supplement industry convention takes place June 5-7 at the Atlanta Marriott Marquis. The Association-run conference brings together over 1,000 individuals ranging from heads of Medicare Supplement insurance operations to insurance agents who market and sell Medigap as well as Medicare Advantage insurance.
Conference details can be accessed via the Association's website at www.medicaresupp.org/medicare-conference-convention/.
The American Association for Medicare Supplement Insurance is an advocacy organization that supports insurance professionals who market Medicare insurance products. The organization is based in Los Angeles, CA. Jesse Slome is director of AAMSI as well as the American Association for Long-Term Care Insurance and the American Association for Critical Illness insurance.