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DID YOU KNOW...
2010
Modernized Medicare Supplement Plans (Effective June 2010)
There will be 11 Medicare supplement plans to select
from: A, B, C, D, F, high-deductible F, G, K, L, M and N (see chart). The Medicare supplement plans being eliminated are E, H, I, and J. Medicare is adding M and N to Medicare
supplements insurance plans that will include higher cost sharing but at lower premiums. Some of the policy changes
are Plan G policies will have 100% coverage for excess charges instead of 80%; Hospice will be part of the basic benefits
and will be included on all Medicare supplements, Also, benefits that will no longer be included on Medigap policies are At-home
recovery and preventative care.
Background
* The Medicare Prescription
Drug Improvement and Modernization Act of 2003 (MMA) included language to encourage the National Association of Insurance
Commissioners (NAIC) to modernize the Medigap market.
* The NAIC decided to review the Medigap plans to determine
if there were changes that could be made to the benefit packages in response to changes in the marketplace since standardization
(1990).
2010 Revisions to Medigap Plans- changes to benefits:
* At-Home
Recovery Benefit eliminated
* Preventive Care Benefit eliminated
* A 100% Part B Excess Charges Benefit replaces
the 80% benefit for Plan G
* A new Hospice Benefit as part of Basic Core was created New
Hospice Benefit:
Medicare offers a hospice benefit with a drug co-pay and inpatient respite care coinsurance.
The 2010 modernized plans will now cover the expenses below as a core benefit:
* $5 co-pay for outpatient prescription
drugs for pain and symptom management
* 5% of the Medicare-approved amount for inpatient respite care (short-term care
given by another caregiver so the usual caregiver can rest). Does not include room and board New
Plan Options:
* Plan M – offers increased cost-sharing (50% of the Part A Deductible, no coverage for
Part B Deductible)
* Plan N – offers new co-pay structure ($20 co-pay for physician visits, $50 co-pay for emergency
room) and no coverage for Part B Deductible
Summary:
* Overall
= Reduces number of plans from 14 to 11.
* Plans E, H, I, and J are no longer offered due to duplicity as a result of
benefit changes
* Eliminates outdated and underutilized benefits
* Adds new plans that feature higher cost sharing
and lower anticipated premiums for policyholders.
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