What's New In The Medicare Supplement Market Starting 6/1/2010

As of 6/1/10 The Medicare Supplement Market Changed and Changed for the Better for those Brokers who are paying attention.

Here's a recap of what's new:

New laws have brought many changes to Medigap (Medicare Supplement Insurance) policies. These changes give you choices in health care coverage to fill gaps in services that Original Medicare doesn't cover.

• Basic Benefits Starting with policies effective on or after June 1, 2010, Hospice Part A coinsurance (outpatient prescription drug and inpatient respite care coinsurance) will be covered as a basic benefit. Plan K will cover 50%, and Plan L will cover 75% of these costs.

• Part B Coinsurance Plans K, L, and N will require you to pay a portion of Part B coinsurance and copayments, which may result in lower premiums for these plans. All other Medigap policies pay Part B coinsurance or copayments at 100%.

• New Plans Offered Plans M and N are new choices.

• Plans D and G Plans D and G bought on or after June 1, 2010 have different benefits than D or G plans bought before June 1, 2010. But, if you bought Plan D or G before June 1, 2010, you can keep that plan and the benefits won't change.

• Plans No Longer for Sale Plans E, H, I, and J will no longer be sold after May 31, 2010. But, if you already have or you buy Plan E, H, I, or J before June 1, 2010, you can keep that plan.

To see the full Medicare Guide for 2010 click here

Basically the changes to our carrier will only be the addition of Plan-N and required modifications on the plans sold after 6/1/2010.  They will continue to sell all the plans they currently sell with the new modifications and add Plan-N.

Click Here To Get your initial Medicare Supplement Kit and Power Point Presentation