Medicare Supplement Insurance discussed in Washington
Medigap or Medicare Supplemental Insurance is a popular senior health option among seniors, but unfortunately Congress is looking to make some changes to the benefits offered through these plans.
On November 23, 2011, the Joint Select Committee on Deficit Reduction (commonly referred to as the SuperCommittee) is set to decide on the future of Medicare Supplement Insurance Plans. The plans would not go away by any means, but deliberation will focus on what benefits should be offered by these plans. For example, some Medigap Plans offer full payment of your Medicare Part A deductible. The 2012 Medicare Part A deductible will be $1,156 for each 60 day benefit period. The SuperCommittee could possibly remove this feature from Medicare Supplement Insurance Plans.
If the SuperCommittee goes through with this action or similar actions like removing benefits like coverage of coinsurance costs, many Medicare beneficiaries would be left having to pay much more in out of pocket expenses. People turn to Medigap plans for financial security, predictability, choice and reliability. According to a survey conducted in 2009 by AmericanViewpoint, 90% of Medigap beneficiaries were satisfied with their current Medicare Supplement Plan.
Talks of further regulating Medigap plans does not come without opposition. The Partnership to Protect Medigap (PPM) is rallying supporters to contact local representatives and senators and urge them not to make these changes. The PPM also points out that many seniors are affected by this proposed policy change, not just wealthy beneficiaries which people sometimes assume. According to America’s Health Insurance Plans, Center for Policy and Research, “More than half of all Medigap policyholders and nearly two-thirds of rural Medigap policyholders had incomes below $30,000.”
We will keep you up to date about any changes to you Medicare Supplement Insurance Plans, but until then if you’d like more information on active groups against these potential regulations, visit the PPM site or contact your local leaders at 1-866-869-1923.
To get more information about Medicare Supplement Insurance plans, talk to one of our Medigap plan representatives today or use our instant quote below.
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