Medicare Supplement Changes in 2010
Medicare Prescription Drug Improvement and Modernization Act of 2003, MIPPA (Pub. L. 108-173) is landmark legislation providing seniors and individuals with disabilities with a prescription drug benefit, more choices, and better benefits under Medicare. Medicare Supplement Changes in 2010 introduces Modernized Medicare supplements. Included in the changes are new Plans choices M and N, better hospice benefits, elimination of some older plans and new, fresh Medicare supplement rates.
Many Medicare Supplement companies have welcomed the 2010 Medicare supplement changes by offering plans with aggressive underwriting and lower premiums. Some carriers may offer new plans without proof of insurability (End Stage Renal Failure question is required by some states.) People who may have recently been hospitalized or have ongoing chronic illnesses may be eligible for new plans without health questions.
Medicare Supplement Changes will not affect supplement policies effective before June 1, 2010. These policies are “grandfathered”. These plans, known as 1990 plans, may see additional rate increases because they can no longer accept new customers. Many Medicare Beneficiaries are actively seeking new information about Medicare Supplement changes. It’s likely that they are finding lower premiums and better benefits in their search.
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