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Medicare Supplement Insurance Plans will be Grandfathered
Thursday, February 18, 2010
The 2010 Modernized Medicare Supplement Insurance Plans can have effective dates as early as June 1, 2010. The previous Medicare supplement insurance 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 insurance plan. The answer is that the Medigap insurance plans sold prior to June 1, 2010 will be grandfathered. Those insureds will not be required to buy one of the new Modernized Medicare Supplement Insurance Plans, nor will they be switched to one of the new policies. They can keep their current coverage as long as they continue to pay their premiums, even if their plan is one that is being eliminated as a future option (like Plan G).