The Medigap Modernization Act 2010, which came into being on June 1, 2010, made some changes to the additional Medicare plans. These changes will not be binding on individuals who have already been enrolled in a Medigap plan prior to that date. The changes will only be binding on individuals who have enrolled since the 1st of June.
Medigap plans for E, H, I and J have been removed from Medicare. However, recipients who are still enrolled in these plans can remain with them and do not have need for any changes whatsoever. At-Home recovery and preventative care are two benefits that have also been eliminated as they have been underutilized by Medicare beneficiaries. Persons who registered in the plans prior to June 1, 2010 and receiving any of these benefits may continue to use them. Other important changes include the addition of hospice palliative care to any additional Medicare plan, which will be an important benefit for all Medigap plans.
The new, modified Medicare plans will also include two new plans that could be very interesting for people who are currently signed up for Medicare Advantage policy. These 2 policies include the Medicare M Add-on Plan and the Medicare Add-On Plan. Due to the rising cost of Medicare Advantage premiums and the increasing number of physicians who choose not to participate, Medigap plans offer Medicare M and N and various cost-sharing features that allow both plans to receive lower rewards than supplementary plans such as the Medicare F supplementary plan or the supplementary plan G.
The brand new Medicare M plan offers unique cost-sharing options particularly attractive to relatively healthy Medicare beneficiaries. The M plan provides half of the Medicare Part A deductible. In 2010, this was $ 1,100 per period of service. For instance, if you are given a hospital bed and take a Medigap M plan, you must pay half the Medicare benefit of $ 1,100 or $ 550. The current rules continue to apply to Medicare Part A. If you are traveling 60 days or more and need to travel again during the calendar year, you will have to pay this deductible again.
With an additional Medicare M plan, you are also responsible for paying the Medicare Part B benefit, which is $ 155 for the year 2010. There is no co-payment practice for this deductible and the plan takes charge of 20% of insurance costs for co insurance. Another new plan (Plan N) was introduced on June 1st. This plan also provides beneficiaries with cost-sharing options very similar to Medicare M’s health plan, but with N’s plan, it takes the form of a refund. If you are hospitalized and subscribed to a national health supplement, you must pay a salary of 50 USD. For medical examinations, a deductible of about $ 20 per visit is reached, after reaching the annual Medicare Part B allowance ($ 155 in 2010). The co-payments will allow the N Medigap Plan Award to be less than currently available Medicare support plans.