Second time posting... having problems with the other thread.
For Those on Medicare Supplements
Most likely every medicare beneficiary in the country has received something in the mail talking about the "changes to medicare supplements" and the need for immediate action. I wanted to clear up what is happening and what you do and don't need to do.
Medicare supplements are changing. As part of MMA 2003 (medicare modernization act 2003) medicare supplements needed to be modernized to work better with medicare's current situation. The current line up of medicare supplements most you hold are what we refer to as "standardized" plans. They were designed by medicare and have been basically the same since 1992. Medicare has changed a lot in the past 18 years, but the supplements have remained the same. The new design was approved in 2008 and all supplements applied for and issued with effective dates of 6/1/10 or later will be of the new design.
No… this has nothing to do with the "health care bill" that just passed. See time line in #1. Obama wasn't even a senator when this plan was put into action.
As part of this modernization of the plans there are some of the plans that will not be offered after 6/1/10 due to them being identical to other plans and there is no sense in two plans looking alike. Plans E, J, H, and I will not be sold after 6/1/10 since they will look just like other plans. For example E and H will look like D, J will look like F, and Plan I will look like G… so the lower letter plans stay and the higher letters are no longer sold. If you have one of the plans that will not be sold any longer don't worry (see #4 below).
Your current plan is not being cancelled, changed, or put at risk in any way. Medicare supplements are "guarantee renewable" which means that YOU are the only person that can cancel it and once it was issued to you it can't be changed in any way.
Two new plans are being added to the line up of medicare supplements. The new line up will be A, B, C, D, F, G, K, L, M, and N. M and N or course being new to the line up. In addition some of the plans will lose benefits. Plans D and G lose at-home-recovery since it is a benefit under medicare it did not need to be covered as a "extra" item under supplements. Plans G's benefit for excess charges will go to 100% from 80% for current plan G's. All plans gain Hospice as a core benefit.
So there are the facts. What do you need to do? Be careful when talking to someone on the phone or sending in a mail piece that you sign and return and they are telling you that you have to take action. If you invite an agent in to show you the new plans listen carefully and then take a day or two to think it over. Making a decision to change plans or companies is a mathematical decision when taking into account the premiums paid vs the benefits gained or lost.
If you have questions please feel free to contact our office. We are located in Butler between the Flaming Lantern and Dr. Lanyon's dental office.
