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.
Learning now about the changes taking place on June 1, 2010 will have you better prepared to evaluate your current Medicare Supplement.
Medicare Supplement changes were completed at the recommendation of the NAIC. Consumer protection was the main focus of these changes. New benefits are being added and coverage which duplicates Medicare is being removed.
The outdated Meicare plans were created early in the 1990's. Consumers were seeing no benefit from many of the old plans.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.
Following is a list of the new Changes:
1. The plans being eliminated are Plan E, Plan I and Plan J
2. The Home Care benefit will be removed form Plan G and the 80% excess coverage is being incresed to 100%.
3. Lower cost Plan M and Plan N will be released. Co-pays will be included in these new plans.
4. Plans A and Plans C and F must be sold by all insurers offering Plan A.
5. Newly priced plans will be released which must include a standardized hospice benefit.
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.
Learning now about the changes taking place on June 1, 2010 will have you better prepared to evaluate your current Medicare Supplement.
Medicare Supplement changes were completed at the recommendation of the NAIC. Consumer protection was the main focus of these changes. New benefits are being added and coverage which duplicates Medicare is being removed.
The outdated Meicare plans were created early in the 1990's. Consumers were seeing no benefit from many of the old plans.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.
Following is a list of the new Changes:
1. The plans being eliminated are Plan E, Plan I and Plan J
2. The Home Care benefit will be removed form Plan G and the 80% excess coverage is being incresed to 100%.
3. Lower cost Plan M and Plan N will be released. Co-pays will be included in these new plans.
4. Plans A and Plans C and F must be sold by all insurers offering Plan A.
5. Newly priced plans will be released which must include a standardized hospice benefit.
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 area of Medicare Supplement Insurance. For more informonion regarding Medigap Insurance contact DJ on his company website.
If you get the regular Plan F you will have no deductibles or coinsurance. When speaking to an insurance professional it's important to make sure which Plan F you are being quoted.
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