Medicare Supplement Changes for 2010
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2010 Medicare Supplement Changes
Effective June 1, 2010, there will be significant changes made to the
current standardized Medicare Supplement plans. These changes will
impact all companies offering Medicare Supplement insurance. These
changes are the result of the Medicare Prescription Drug Improvement and
Modernization Act of 2003 (MMA) that included language encouraging the
National Association of Insurance Commissioners (NAIC) to modernize the
Medigap market. Following is a summary of 2010 Changes:
Eliminates four Medicare Supplement plans
- Plans H, I, and J are eliminated (Due to the elimination of the Rx benefit)
- Plan E is eliminated (Becomes the same as D once benefit eliminations are made)
Modernizes Benefits
- Eliminates the At-Home Recovery Benefit (Affects Plans D, G, I and J)
- Eliminates Preventive Care Benefit (Affects Plans E and J)
- Replaces the 80% Part B Excess Charges Benefit with a 100% benefit (Affects Plan G)
- Creates a new Hospice Benefit as part of Basic (Core) benefits (Affects All Plans)
Creates New Plan Options
- Plan M – with increased cost-sharing (50% of the Part A Deductible, no coverage for Part B Deductible)
- Plan N – with new co-pay structure ($20 co-pay for physician visits, $50 co-pay for ER) and no coverage for Part B Deductible
Next Steps
- September 24, 2009: States deadline for adopting the 2010 standardized plans; Minnesota and Wisconsin will continue to offer their grandfathered plans, and may add the hospice benefit
- December 1, 2009: Marketing the 2010 plans begins for consumers wanting a June 1, 2010 or later effective date because of the six-month open enrollment period prior to June 1. Contingent on states approval.
- December 1, 2009 – June 1, 2010: Both existing plans and the 2010 plans can be marketed to accommodate all possible effective dates
- June 1, 2010: Revised plans are effective; the original standardized plans are not available for new business.