In 2010 the Medicare Supplement landscape will see some significant changes.  With the addition of two new plans, comes the phase out of several current plans.

Many seniors are willing to accept some cost sharing method, such as co-pays and deductibles, in order to keep their Medicare Supplement premiums lower.  As a result Blue Cross and Blue Shield of North Carolina will begin offering the approved new plans which offer lower premiums in exchange for the insured accepting some additional risk.

The two new plans are Plan N and Plan M.  Each plan has a cost sharing factor.  One plan uses an annual deductible and the other a co-pay when you visit the doctor or hospital.  In exchange for paying a small amount out-of-pocket, an insured can reduce their annual premiums from 15 to 30%.

Because some of the benefit updates for 2010 roll coverage that is currently provided on a supplement plan into basic Medicare, there are also a few plans that will no longer be offered to new clients.  Any individual currently on one of these plans can elect to keep that plan but may be paying for benefits that are now provided by Medicare.

Compare New Medicare Supplement Insurance Plans

Plans E, H, I and J are the plans being phased out.  If you choose to remain with one of these plans you will most likely not see any immediate effect.  However, since no new clients will be brought into these plans the claims experience could drive up premiums faster than other plans as policy holders age and generate more claims expense.

If you would like more detailed information about the coming changes and how to best compare Medicare Supplement insurance plans, feel free to contact us.  You deserve to have all the necessary information as you plan for your future.