subject: Medicare Supplement Insurance - Changes in 2010 for you [print this page] While Medicare Supplement plans have been standardized since 1992 and have seen few monumental changes since then, there will be quite a few changes seen in the coming year, 2010. The addition of two new plans, Plan M and Plan N, are only the beginning. June is the designated month these two new additional plans will be put into effect, as well as the elimination of four currently existing plans. The purpose of these changes is to reduce the cost of premiums and other associated expenses with an enrollment in Medigap policies.
Healthcare costs that are not covered by standard Medicare plans are not left uncovered with Medigap, also known as Medicare Supplement plans. Seniors, you are eligible for Medicare coverage if you are at least 65 years of age and/or have a qualifying disability. As the policies currently stand, there are 12 Supplement plans assigned the letters A through L. Each plan is important to consider for certain benefits relevant to your current situation, geographic location and health conditions. A basic change is occurring to all current plans with an addition of hospice care. Plan G will be undergoing a further alteration, that of a boost from 80 percent to 100 percent coverage for excess charges.
The plans that are being done away with altogether come June 2010 are Plans E, H, I and J. In addition, all Medicare Supplement plans will be stripped of their preventative care and at-home-recovery benefits. All seniors, no matter your current plan, are advised to review your plan in order to better make an informed decision about whether to keep your plan or switch to one of the new ones to be introduced. If your plan is being eliminated, you really have no other option than to review and compare the new rules of different coverage options.
Remember that while these changes may be frustrating and present a hassle right now, its purpose is to present you with better coverage at a lower cost. There will be further changes than those mentioned here, in the form of rates for deductibles, co-pays and benefits you receive from different Medicare Supplement plans. Since there will naturally be an increase in expenses for insurance companies offering healthcare, many will be discontinuing certain Medicare and Medigap options in an effort to offset these costs. Talk with your plan provider to review your options and become informed about any changes you may not have been aware of.
