Understanding the Changes Made to Colorado Medicare Supplement
In June of 2010, various changes were made to the Colorado Medicare supplement insurance plans. In order to get good insurance under Medicare, it is vital that you are aware of the changes that were made. Understanding these changes will help you understand the benefits that you are entitled to receive and the advantages you stand to gain. The changes in the supplement were implemented for both deductibles as well as co-pay.
When you are talking about supplements as far as Medicare goes, you are referring to a plan that fills in the gaps of Medicare. In the case of Medigap (term used for supplements) the insurance plan holder is billed for both the original plan they have taken from Medicare and they also pay for the additional supplement plan.
One of the items added to Medicare itself is the inclusion of hospice services into all plans. This means that you do not need to get hospice services as a separate section within your supplement. This was initially available in all the plans under Part K as well as Part L.
A new Plan entitled Plan M was also added as an additional plan. This plan is considered the same as the Medicare Plan D however the difference is that Plan M has a 50% deductible on the coinsurance to the Part A.
Something else that has become more beneficial for insurance plan holders is that you could exchange your older plans or current plan in favour of a much more advantageous newer plan. This way you could get all the benefits of the newer plans. Don't worry though, because if you don't want to change your existing plan and move over to the new plans, you donýt have to be forced into the newer plans.
Some of the older plans which used to exists, specifically plans E and H as well as I and J have already been abolished. This is mainly because they are extremely identical to the newer Supplement plans which have been put in place.
One of the plans that were offered was the Plan G. This plan hasn't been abolished however it has been somewhat changed. The older plan only had an 80% excess benefit for Medicare Part B. Instead this now reflects a 100% benefit, although the At-Home-Recovery section was taken out.
These are some, though not all of the changes made to the Colorado Medicare Supplement plans. Make sure you get the right plan for you and that begins by requesting medical insurance quotes. Sign up now!