Changes are coming to Medicare Supplement Plans A thru J, know as the “Standard Plans”, effective June 1, 2010. As of that date the current plans will no longer be available for Medicare Beneficiaries. These “Standard Plans” will be replace with the new “Modernized Plans”. Here is a rundown on the plan changes.
There will be an elimination of 4 plans: Plans E, H, I and J.
The benefit changes will be as follows:
- Elimination of the At-Home Recovery Benefit
- Elimination of the Preventive Care Benefit – Medicare covers this anyway.
- Replacement of the 80% Part B Excess Charges Benefit with a 100% benefit (Plan G).
- Creation of a new Hospice Benefit as part of the Basic or Core benefits.
New Plan Options:
Plans M & N.
Plan M: has increased cost-sharing. 50% of the Part A Deductible, no coverage for the Part B Deductible.
Plan N: has a new co-pay structure. $20 co-pay for physician visits, $50 co-pay for the Emergency Room and no coverage for the Part B Deductible.
We are looking for marketing materials to be available December 1, 2009 for the new Modernized Plans. The Standard Plans will continue to be available with effective dates of coverage before June 1, 2010. Begining June 1, 2010 only the new Modernized Plans will be available.
We see this as a positive move for Medicare Beneficiaries since the Private Fee For Service Plans (PFFS) will no longer be available and funding cuts to Advantage Plans seems eminate.
Let us know what you think. We appreciate any and all comments.
