Key Modifications in Medicare Supplement Coverage

Long Island Planning Group, Ltd. is committed to updating you on proposed changes in health care. With National Health Insurance being a central concern for Congress and President Obama, there are many conversations being had on health care reform and many unanswered questions. As modifications are made to our system, we will inform you of the ways in which these changes will impact you and your business.

Each year the government releases indexed or updated legislative changes and numbers relating to estates, taxes, retirement plans, long term care insurance, Medicare and Medicaid. There have been some modifications made for Medicare Supplement Plans in 2010:

Key Modifications in Medicare Supplement Coverage

In June 2010, there will be key changes in Medicare Supplement Coverage (also known as Medigap). Medigap should not be confused with Medicare advantage. In order to clean up the Medicare Supplement Plans created in the 1990s, there will be an elimination of several plans and the addition of two new plans. Plans E, H, I and J will be removed from the books. Also Medicare deemed the elimination of the preventative care benefit and the At-home-recovery benefit necessary due to the current economy. Medicare Supplement Plan M and N will be introduced beginning June 1, 2010. By adding co-payments and deductibles, these plans will lower monthly premiums. Plan M will offer similar benefits to Plan F, but it will cover only 50% of Part A and Part B's deductible. The cost will be 85% 0f Plan F. Plan N will also have similar benefits to Plan F, but there will be a $20 co-payment to go to the doctor and a $50 co-payment to go to the emergency room. Plan N will cost approximately 70% of Plan F.

If you have any questions about Medicare Supplement Coverage or any of your other insurance needs, please contact me at RIsrael@optonline.net.