- 7,066
Drum roll please. Announcing, for your selling pleasure, Medicare Supplement Plans M&N.
Medicare Supplement Plan M.
Plan M offers the most dramatic changes in Med Supp Plans as we have known them. It will pay 50% of the Part A deductible and no coverage of the Part B deductible. It will still pay the 20% coinsurance for Part B charges. Just the Part B deductible will not be paid.
Remember, the Medicare Part A deductible is good for a sixty day period. Not every time they have to go to the hospital. Plan M should be priced substantially under all other plans and may be the one that presents the best option for those currently with an HMO.
In areas where the cost of Plan M is competitive with an HMO it will be very easy for the agent to show the prospect that switching to Plan M is definitely in their best interest. The senior will no longer be limited to network doctors and hospitals.
Medicare Supplement Plan N.
Plan N may be the one most often recommended to seniors and may outsell all other Medicare Supplement Plans depending on how it is priced by the insurance companies.
It may be the easiest of all Medicare Supplement plans to present and sell.
Seniors, especially those currently on an HMO or those recently new to Medicare, who had group coverage when still employed are very familiar with co-pays and understand them and how they work.
Plan N will cover 100% of the Part A Deductible but like Plan D, for example, will not pay the Medicare Part B Deductible. That in of itself is not a new concept nor any different than the current Plans D and G.
The big change in Plan N is in the Part B Coinsurance. The Part B coinsurance will now be subject to a new co-pay structure.
When a Medicare recipient goes to the doctor there will be “up to” a $20 co-pay for the office visit. There is no further explanation of what is meant by “up to”. I guess that is a secret at this point.
If they go to the emergency room there will be a co-pay of “up to” $50 for an emergency room visit. Again, no explanation of “up to” with that one either.
[FONT="]These represent the most dramatic, all encompassing changes Medicare has made since the establishment of the Standardized Plans in 1990.[/FONT]
[FONT="]At this time it is all guess work. I have contacted several insurance companies and non of them would admit to or claimed they didn't know yet what there plans were for the new Standardized Med Supps.[/FONT]
[FONT="]Assuming that the companies have everything in place by then, marketing these plans can begin as early as December1, 2009.
[/FONT]
Medicare Supplement Plan M.
Plan M offers the most dramatic changes in Med Supp Plans as we have known them. It will pay 50% of the Part A deductible and no coverage of the Part B deductible. It will still pay the 20% coinsurance for Part B charges. Just the Part B deductible will not be paid.
Remember, the Medicare Part A deductible is good for a sixty day period. Not every time they have to go to the hospital. Plan M should be priced substantially under all other plans and may be the one that presents the best option for those currently with an HMO.
In areas where the cost of Plan M is competitive with an HMO it will be very easy for the agent to show the prospect that switching to Plan M is definitely in their best interest. The senior will no longer be limited to network doctors and hospitals.
Medicare Supplement Plan N.
Plan N may be the one most often recommended to seniors and may outsell all other Medicare Supplement Plans depending on how it is priced by the insurance companies.
It may be the easiest of all Medicare Supplement plans to present and sell.
Seniors, especially those currently on an HMO or those recently new to Medicare, who had group coverage when still employed are very familiar with co-pays and understand them and how they work.
Plan N will cover 100% of the Part A Deductible but like Plan D, for example, will not pay the Medicare Part B Deductible. That in of itself is not a new concept nor any different than the current Plans D and G.
The big change in Plan N is in the Part B Coinsurance. The Part B coinsurance will now be subject to a new co-pay structure.
When a Medicare recipient goes to the doctor there will be “up to” a $20 co-pay for the office visit. There is no further explanation of what is meant by “up to”. I guess that is a secret at this point.
If they go to the emergency room there will be a co-pay of “up to” $50 for an emergency room visit. Again, no explanation of “up to” with that one either.
[FONT="]These represent the most dramatic, all encompassing changes Medicare has made since the establishment of the Standardized Plans in 1990.[/FONT]
[FONT="]At this time it is all guess work. I have contacted several insurance companies and non of them would admit to or claimed they didn't know yet what there plans were for the new Standardized Med Supps.[/FONT]
[FONT="]Assuming that the companies have everything in place by then, marketing these plans can begin as early as December1, 2009.
[/FONT]