What Is New For Medicare Suplemental Insurance Plans In 2010?
While Medicare Supplement plans have been standardized since 1992 and have seen few monumental changes since then, there will be significant changes for Medicare Supplemental Insurance Plans in 2010.
In June 2010 two new additional plans, Plan M and Plan N will be put into effect, and four currently existing plans, Plan E, H, I and J will be eliminated. Medicare Supplement plans M and N will have similar benefits to Medicare Supplemental Insurance plan D. The purpose of these changes is to reduce the cost of premiums and other associated expenses with an enrollment in Medigap policies.
In addition, all Medicare Supplement plans will be stripped of their Preventative Care benefit and At-Home-Recovery benefits. Medicare has deemed these two benefits unnecessary in the current Medicare structure. In addition to these changes, a Hospice Care benefit co-insurance coverage will be added to all new Medicare Supplemental Insurance policies.
Current Supplement policy holders are allowed to keep their existing Supplemental Insurance (Medigap) policies, however as of June 2010, enrollment will cease into all current plans. Existing Medigap policy holders will be partitioned into one group, and all plans purchased after June 2010 will be segregated into new policy groups.
All plans purchased after June 1st 2010 will be in the new plan policy design. Many Medicare Supplement providers will offer the new plans N and M.
If your plan is being eliminated, you really have no other option than to review and compare the new rules of different coverage options.
So no matter what Medigap policy you currently have, you are advised to review your plan carefully and decide whether to keep your it or switch to a new Supplemental Insurance Plan.
More Articles About Medicare Supplement
- Medicare Supplement Plans
- Am I Eligible For A Medicare Supplement Plan?
- Medicare Supplement Plans (Medigap) A through L And The New Plans M And N
- Do I Have Medicare Part D Prescription Drug Coverage With A Medicare Supplement Plan?
- Can I switch to a different Medicare Supplement Plan (Medigap)?
- Can I keep my current Medicare Supplemental Insurance or switch to a different Medigap policy if I move out-of-state?
- How Do I Cancel My Medicare Supplement Plan (Medigap Policy)?
- Does Medicare Supplemental Work With A Medicare Advantage Plan?
- What happens to my Medigap policy (Supplemental Insurance) if I join a Medicare Advantage Plan?
- How Much Does Medicare Supplemental Insurance Cost?
- How Do I Enroll In A Medicare Supplement Plan?
- What Is New For Medicare Suplemental Insurance Plans In 2010?
