Medicare Supplement Insurance Plan - Program Updates in 2010
There are dramatic changes coming to the Medicare Supplement insurance plan options in June of 2010.
Four of the existing policies will be discontinued and two new plans will be offered.
Generally speaking, these changes will lower the required out-of-pocket expenses to senior citizens enrolled in Medicare and offer new benefits in some of the remaining plans.
Medicare Supplement also called Medigap insurance policies.
Private insurance companies sell these policies.
Their goal is to help people pay for the "gaps" in coverage provided by the original Medicare program, Parts A and B.
Pricing and plan availability varies by state and provider.
With few exceptions, people who are at least 65 years old or have a qualifying disability are eligible for Medicare.
Currently, those in need of coverage can choose their supplement insurance plan from among the 12 being offered.
They are labeled plan A through Plan L.
Each has its own set of benefits and associated premiums.
Although the plans are standardized, their availability varies depending on the region of the country you are in.
These plans must meet all Federal and state laws that have been enacted to protect consumers.
Premiums may vary from one provider to another.
As a result, it is recommended that you research your options and compare plans before committing to an insurance provider.
Many providers offer benefits in addition to those that are required.
This may make the premium higher, but give you more of the coverage you need.
Among the changes to Medicare supplement insurance options is the addition of Plan M and Plan N.
Plan M will offer benefit coverage similar to that of plan F.
The primary difference is that it will only cover 50% of the deductibles in Parts A and B, rather than the full amount.
However, it will also cost somewhat less than Plan F.
Plan N will also be similar to Plan F.
It will feature $20 co-pay for doctor's visits and $50 co-pay for trips to the emergency room.
This plan will cost less than Plan F.
The existing plans will have the added benefit of hospice care.
Changes to Plan G include 100% coverage for excess charges from the Medical insurance portion of the original plan.
Currently, it covers 80% of the charges.
Medicare supplement insurance plan options will reflect significant changes beginning in June of this year.
Some plans have been eliminated, others will be added and almost all remaining plans will be modified.
Four of the existing policies will be discontinued and two new plans will be offered.
Generally speaking, these changes will lower the required out-of-pocket expenses to senior citizens enrolled in Medicare and offer new benefits in some of the remaining plans.
Medicare Supplement also called Medigap insurance policies.
Private insurance companies sell these policies.
Their goal is to help people pay for the "gaps" in coverage provided by the original Medicare program, Parts A and B.
Pricing and plan availability varies by state and provider.
With few exceptions, people who are at least 65 years old or have a qualifying disability are eligible for Medicare.
Currently, those in need of coverage can choose their supplement insurance plan from among the 12 being offered.
They are labeled plan A through Plan L.
Each has its own set of benefits and associated premiums.
Although the plans are standardized, their availability varies depending on the region of the country you are in.
These plans must meet all Federal and state laws that have been enacted to protect consumers.
Premiums may vary from one provider to another.
As a result, it is recommended that you research your options and compare plans before committing to an insurance provider.
Many providers offer benefits in addition to those that are required.
This may make the premium higher, but give you more of the coverage you need.
Among the changes to Medicare supplement insurance options is the addition of Plan M and Plan N.
Plan M will offer benefit coverage similar to that of plan F.
The primary difference is that it will only cover 50% of the deductibles in Parts A and B, rather than the full amount.
However, it will also cost somewhat less than Plan F.
Plan N will also be similar to Plan F.
It will feature $20 co-pay for doctor's visits and $50 co-pay for trips to the emergency room.
This plan will cost less than Plan F.
The existing plans will have the added benefit of hospice care.
Changes to Plan G include 100% coverage for excess charges from the Medical insurance portion of the original plan.
Currently, it covers 80% of the charges.
Medicare supplement insurance plan options will reflect significant changes beginning in June of this year.
Some plans have been eliminated, others will be added and almost all remaining plans will be modified.
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