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Some Changes Upcoming in Medigap Plans

Since 1992 Medigap plans had been the same. The Medicare Supplement Insurance plans, the supplementary insurance plans to make up the gap between the Original Medicare policy coverage and the actual medical bill payable. These plans are sold and administered by the private health insurance companies. These plans are categorized under the latter covers A through L. Although up to the end of 2009 there had been only 12 Medigap Insurance Plans to be sold by the private insurance companies. But now in June, 2010 there is going to be a change in this setting of the standard Medicare Supplement Plans. These changes which are going to take effect on June 1, 2010, would be a great help to the customers as they are expected to lower down the out of pocket expenses of the consumers besides providing some additional benefits in the current plans.

Besides these one of the most notable facts in this upcoming change is that the existing Medigap Health Insurance Plans A through G would be dumped and hence forth they would be referred to as the “Old” Medicare Supplement Insurance Plans. Besides that two new plans M and N are to be introduced this year. These two plans would offer the similar benefits as that of the Medigap Insurance Plan F these two plans use cost sharing means to lower the premium rates of the beneficiaries. Moreover, these plans are assumed to get a high popularity with the customers as they are going to prove to be very much beneficial for the customers.

Besides that in June 1, 2010, there are going to be several other changes in the Medigap Health Insurance Plans which would undoubtedly prove to be of great benefit to the customers and therefore it is hoped that these changes would get a worm welcome.

But to those who are new to the Medigap Health Insurance Plans it is for their concern that these are the supplementary insurance plans meant to bridge the gap between the Original Medicare Plans and the actual medical bill payable. And because of this nature of these plans they are also known as the Medigap policies. Moreover, as these plans are supplementary insurance plans to the Original Medicare therefore these plans cannot be used with any other Medicare plans even they cannot be used with the Medicare Advantage Plan. Therefore, if you switch over to Medicare Advantage plan or any other plan from the Original Medicare then you cannot purchase the Medigap Health Insurance Plans. Even if you already are a beneficiary of the Medicare Supplement Insurance plans then you cannot use the benefits unless you switch back to the Original Medicare plans.

To choose the right Medigap Health Insurance Plans is also an important decision to make. Therefore, it is always better to consult your insurance advisor to choose the Medicare Supplement plans for yourself. But if you decide to choose the Medigap Health Insurance Plans by yourself it is most essential that you go through the offer documents of all the Medigap plans carefully so that you may understand the best plan suitable for you.

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