Medicare Supplement Insurance Set for a Big Change in June of 2010
Medigap or Medigap Insurance are terms often used to refer to Medicare Supplement Insurance. The Original Medicare program has gaps which Medicare Supplement Insurance or Medigap Plans are designed to fill. Medicare Advantage is a separate program and should not be confused with Medigap Insurance.
Learning now about the changes taking place on June 1, 2010 will have you better prepared to evaluate your current Medicare Supplement.
The National Association of Insurance Commissioners suggested the new changes to Medicare Supplement Insurance. Consumers will be protected by these new changes. Duplicate coverage will be eliminated and additional coverage will be offered.
The outdated Meicare plans were created early in the 1990’s. Consumers were seeing no benefit from many of the old plans. Time for change was the main focus of the NAIC.
The new Changes are as Follows:
1. Plans E, H, I and J will be eliminated
2. Plan G currently covers 80% of doctors overcharges and will change to cover 100%. Benefits for Home Confinement will be eliminated.
3. Lower cost Plan M and Plan N will be released. Co-pays will be included in these new plans.
4. Insurance companies which sell Plan A must also make Plan C and Plan F available.
5. Newly priced plans will be released which must include a standardized hospice benefit.
These changes wiil have an impact on all plans currently being offered. Originally many people thought this was not the case. The new plans will be created and the old plans will be closed.
New pricing will be available by all companies with these new plans. Meaning that companies no longer in the market will most likely get back in. More competition was the plan. Because of the new Hospice benefit all plans must be changed.
Senior aging into Medicare will appreciate these changes as will seniors which are healthy and already insured. Unhealthy seniors whic can’t change may see premium increases. As members of the old plans age, costs of these programs will increse.
Senior should begin researching their available options as soon as possible. A good idea would be to contact their current Medicare Supplement agent or locate a new agent on the Internet. Simply go to Google or Yahoo to find a new agent.
Related posts:
- Michigan Medicare Supplements From Easy Medicare Advantage Is it time to replace your current Medicare supplement or are you interested in buying a new Medicare Supplement. It is easy to buy Medicare supplement coverage....
- Michigan Medicare Plans From Easy Medicare Advantage Michigan Medicare Advantage Plans are health plans run by private companies and approved by the federal government. These are referred to as Medicare Part C. You have to follow rules set by Medicare and this is not supplement insurance....
- Easy Medicare Advantage Explains Michigan Medicare Plans Health plans approved by the federal government and run by private companies are called Michigan Medicare Advantage Plans. These are referred to as Medicare Part C. This is not supplement insurance and you must follow rules set by Medicare....
- Medicare Part A and Part B Combined with a Medicare Supplement Plan Most people on Medicare whom join Medicare sign up for both Medicare Part A and Medicare Part B. All areas of Medicare are covered when these two programs are combined. People often realize that even though these programs provide excellent protection the coverage is not complete....
- Combining Medicare Part A with Medicare Part B with a Supplemental Medicare Plan Most people have both Medicare Part A and Medicare Part B coverage. This combination provides all the hospital and medical coverage that is available under Medicare. The two parts of the Medicare program are intended to work together to give participants a broad range of coverage, although it is not total coverage....
Written by Derrick Johnson on December 9th, 2009 with
no comments.
Read more articles on Insurance.
- [+] Digg: Feature this article
- [+] Del.icio.us: Bookmark this article
- [+] Furl: Bookmark this article