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new plans M&N

The new Medicare Improvements for Patients and Providers Act (MIPPA) provides much needed new coverage options for Medicare beneficiaries looking for additional coverage – beyond what their Medicare Parts A & B cover. The new options come in the form of two new Standardized Medicare Supplement plans – M & N. We are expecting these plans will have a lower premium – approximately $20-$30 less per month than a Standard Plan F Medicare Supplement – while allowing some...

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Chris G. Hardin 3/15/2010 4:53:00 PM Comments(0)

Medicare Supplement Plans will be Grandfathered

The 2010 Modernized Medicare Supplement Plans can have effective dates as early as June 1, 2010. The previous Medicare supplement plan designs will no longer be available at that time. Policyholders will naturally be wanting to know how this will effect their Medicare supplement coverage if they already have a Medigap plan. The answer is that the Medigap plans sold prior to June 1, 2010 will be grandfathered. Those insureds will not be required to buy one of the new Modernized Medicare Suppl...

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Aaron Holmes 2/18/2010 10:39:00 AM Comments(0)

Medicare Supplement Guaranteed Issue Rights

Will your Medicare Advantage Plan be around in 2010? Some Medicare Advantage Plan members will be involuntarily disenrolled from their current plans since some plans will end as of 12/31/09. What does this mean for the Medicare Advantage Plan members? For some this change presents a great opportunity to purchase a Medicare supplement policy without going through any underwriting. If a person's Medicare Advantage Plan leaves Medicare or stops providing benefits in an area of coverage, that pe...

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8/1/2009 12:00:00 AM Comments(0)

Medigap Policies Can Be A Smart Purchase

Being on Medicare is great, right? Well, yes and no. Being on Medicare is great because the monthly premiums are affordable. Medicare Part A has no monthly premium and Medicare Part B has a 2009 premium of $96.40. This is great compared to what an individual health insurance policy would cost for someone that age and there are no exclusion for pre-existing conditions with Medicare.Being on Medicare is not so great when you consider that Medicare Part A has a 2009 deductible of $1,068 and Med...

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6/1/2009 12:00:00 AM Comments(0)

Medicare and Hospice

Medicare Part A includes Hospice as a benefit. Medicare Part A beneficiaries are entitled to hospice benefits if they are terminally ill and have less than six months to live. Hospice benefits include doctor services, medical equipment and supplies, and nursing services among other things. In 2009, Medicare Part A has a $1068 deductible. The beneficiary is responsible for this deductible. Medicare Part B has a $135 deductible and then Medicare pays 80% and the beneficiary pays the remaining...

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6/1/2009 12:00:00 AM Comments(0)