Medicare Supplement plans help reduce out-of-pocket expenses and provide additional benefits not addressed under the original Medicare program guidelines.  Some plans pay the deductibles and coinsurance which a Medicare beneficiary is responsible for.  Plan N has been created to address the changing health care needs of our senior citizens.

Starting June 1st 2010, the new Medicare Supplement Plan N will become available.  This plan is geared towards providing a supplement plan at a lower cost compared to the very popular Plan F.

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Medicare Supplement Plan N is more affordable as it requires clients to share the cost of their treatment, much like a Medicare Advantage plan (Medicare HMO or PPO).  Unlike a Medicare Advantage plan however, Plan N has no network restrictions and a much lower out-of-pocket costs.  Plan N is different from what is traditionally expected from a Medicare Supplement plan, these new benefit changes now make Medigap much more accessible to lower income seniors and more attractive to those who would not otherwise see the need for one.

Currently, there are 12 different types of Medicare Supplement plans; Plan A through Plan L.  Each different plan offers a unique set of benefits.  All plans will have a hospice care benefit addet to them.  Also, Plan G will have 100 percent coverage for excess charges, it currently covers 80 percent for such charges.

Medicare Supplement plans being eliminated: Plans E, H, I and J will no longer be offered beginning June 1, 2010.  The preventive care and at-home-recovery benefits will also be eliminated from Medigap policies.  With lower premiums and cost sharing options such as co-pays and deductibles, Medicare Supplement Plan N should be an excellent option for people on Medicare, particularly those who do not mind paying co-pays.

Remember, while these changes may be frustrating and present an inconveninece now, the purpose of the chanbes is to present our seniors with better coverage at a lower cost.

Existing Medicare Supplement plans will be grandfathered in, so beneficiaries can keep them if they wish.  There is also some concern that less healthy and older beneficiaries who belong to the closed plans may get rate increases, and may be unable to change in some states.  Please call anytime for more information regarding this issue.  CMS (Center for Medicare and Medicaid Services) recommends that insurance companies take in new business without health underwriting, and some companies may follow this request.

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I’m here to help, so please feel free to call anytime regarding the new Medicare Supplement plan N or any other plan of your choice.

John Conner
john@johnconner.com
800-700-1246 - office
916-240-6422 - cell