New Medicare Supplement Plans Premiums For 2011

Starting on June First 2010 the Centers for Medicare And Medicare Services (CMS) in conjunction with many insurance companies have introduced two new supplemental policies (also referred to as Medigap). Plan M and Plan N. These two plans were designed to be offered at a lower monthy premium, however there are deductibles and copays involed which are quite different than the traditional policies. In many if not most of the counties throughout the United States they will be offered on a guarantee issue basis. Most of the traditional Medicare Supplement Plans cover all of the part A  and B deductibles and all of your co-pays. The differences with the traditional Medicare Supplement plans are the specific or amount of services are offered. The most popular plan has traditionally been Plan F. Plan J which is offers the most robust and extensive plans has been eliminated for new enrollees. If you currently have this plan you will be allowed to keep it but you will not be able to enroll in Plan J otherwise. For New York Medicare eligible beneficiaries can visit www.nymedicare.org to download all of the current plans and rates for all companies offering Medigap plans.

I use New York only as an example. This is because since the rates are the same for everyone. This makes it easy for you to see how the plans work. Insurance is regulated by each State. For most other States the policies are medically underwritten unless you are within 6 months of your initial coverage election period (ICEP) which means you are new to Medicare. For all other States you should visit www.choicesformedicare.org. Another site to put in a request is www.todaysmedicare.org.

I generally don’t like to put a lot of links on my posts but in this case it is necessary to deliver the proper resources to help you find exactly what you are looking for. The sites I have mentioned are good because they do not give your information to any third parties and you will not receive any spam or numerous phone calls. You will only receive unbiased information directly related to what you are asking for. You can be sure to get a fast response and they offer Toll Free Insurance Helplines that you can call and speak to an actual person rather that a computer. Being in the insurance industry myself I have done the research to find good websites and reputable companies to deal with. 

I would also like to remind you that Medicare Supplements do NOT  offer presciption drug coverage (Part D) as part of the Plan like many of the Advantage Plans do. You will need to purchase your Part D policy seperately so make sure you factor this in when choosing your supplemental insurance.

So in closing I would like to say that it is important that you ask a lot of questions. Find a company that specilizes in Medicare plans to help you with these quesstions. If they cannot answer your questions to your satisfaction or you feel that they are not knowledgeable. Find another company and try again. A broker is usually the best bet since they can pull up information for all of the companies and you can compare all insurance from one source. It sure is a time saver and beats the alternative of calling each individual comany one at a time.