June of 2010 is the Date for Changes in Medicare Supplement Insurance
|
Medicare Supplement Insurance is sometimes referred to as Medigap or Medigap Insurance. Medicare Supplement or Medigap plans fill the gaps in Original Medicare program. Medigap Insurance should not be confused with Medicare Advantage because that is a separate program. Big changes will take place with Medicare Supplement Insurance plans on June 1, 2010. Learning about these changes now, will have you better prepared for these changes. Plan now to insure your future. 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 The outdated Meicare plans were created early in the 1990’s. Consumers were seeing no benefit from many of the old plans.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. Changes taking Place on June 1, 2010 are as follows: 1. The plans being eliminated are Plan E, Plan I and Plan J 2. Plan G currently covers 80% of doctors overcharges and will change to cover 100%. Benefits for Home Confinement will be eliminated. 3. Co-payments will be required in two new lower cost plans. They will be called Plan M and Plan N. 4. Companies offering Plan A must also offer Plan C and Plan F. 5. A hospice benefit will be included in all new plans being released. The new changes do not affect only a certain number of plans. The situation is not what was originally thought. The old plans will no longer be available for sale in addition to the new plans being created. The old higher rates will be gone and new lower rates will be available. This competion is good for the consumer. Hospice benefits will be in all new plans and this is the reason for changes. 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. Researching these changes now would be a good idea. Seniors should get in touch with their agent or try to locate an expert on the Internet. Yahoo, Google and MSN are good places to locate an expert. About the Author:
DJ is an expert in the field of Medicare Supplement Insurance. For more information about Medigap Insurance contact DJ at his company website.
|