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2010 Medicare Modernization Act
The 2010 Medicare Modernization Act will begin to change numerous things for
Medicare Supplement Insurance beginning June 1st 2010. With plans being edited, eliminated,
and added we believe it is crucial to keep up with how this will impact our
clients. Below we have listed the
major changes to the Medicare supplement plans as well as providing you a chart
to review. Please feel free to
contact
customerservice@seniordivision.com with any questions you may have.
OVERVIEW
OF PLAN CHANGES
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Reduces overall plans from 14 to 11
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Plans E, H, I, and J are eliminated (these plans
were put into effect in 1992 with the other standardized plans but due to under
utilization and Part D there were not as much use for these plans)
·
At-home recovery and preventive care benefits are
eliminated under the Modernized plans (these benefits were primarily taken out
due to under utilization)
·
On plan G the Part B excess charges increased
from 80% to 100% (this plan is now extremely close to the plan F)
·
A hospice benefit was added to the basic (core)
benefits
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Plans M and N were created through this act, and
were designed with higher cost-sharing at lower premiums. A few carriers will have similar
health questions to a Medicare Advantage on these plans.
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