Medicare supplemental insurance has been available for awhile but many people in the White House believe it is time for some health care changes. In 2010, there are many new changes being made to Medicare supplements. It is obvious that not everyone will want to accept the new changes, but hopefully these changes will benefit a large portion of those with Medicare health care coverage.
There are a few changes that have already been discussed. One of these changes is that plans A through G are being phased out into new plans also labeled A through G. However, the old plans will not be totally phased out because those currently under the old plans will be grandfathered in and they will still be covered under those plans.
You must know that those that are just signing up for plans A through G will not necessarily receive the “new”Medicare supplement plans. This is due to the fact that they will be the same as the “old” plans. As you can see, this process is quite confusing, so make sure to have your questions answered before the new changes go into effect. Do your best to keep up to date with reports if you are currently under a Medicare supplement plan by researching on the Internet and reading medical news publications.
Another confusing aspect of the new changes to Medicare supplements is that those currently enrolled in plans A through G by June 1, 2010 will be placed in “closed risk pools.” A closed risk pool means that people in the group will probably have to pay higher costs for Medicare supplement insurance.
Obviously, having rates go up may be very difficult for some people-especially those on a fixed income. In any case, after May 31, 2010, the insurance rates will be reset and the new plans will be available. For those that receive the “new” versions of the plans after June 1, 2010, there will be strong competition among insurance companies bidding for Medicare supplement business.
With increased competition, it generally means lower rates, and these lower rates have the possibility to stay in effect longer than we may expect. Frankly, it is difficult to predict how well the Medicare supplement insurance market will do in relation to premium costs. But, we can assume that in order to attract more customers, the rates will be lower in the beginning of these Medicare supplement changes.
Because of the radical policy changes occurring in the White House, we have no idea what else may change in Medicare health insurance. Just remember to stay up to date with policy and rate changes in the Medicare health care system and know that the medical news publications and Internet articles are a quick and easy way to obtain information about new Medicare changes. To avoid the confusion, just stay well-informed and educated on the subject of new Medicare supplement changes.
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