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Medicare Health Plans
Medicare Insurance Information
The Original Medicare Plan pays for many health care services and supplies, but it doesn’t pay all of your health care costs. There are costs that you must pay, like coinsurance, copayments, and deductibles. These costs are called “gaps” in Medicare coverage. You might want to consider buying a Medigap policy (Medicare Supplement) to cover these gaps in Medicare coverage.
Medicare Improvements for Patients and Providers Act (MIPPA)
The Medicare Improvements for Patients and Providers Act (MIPPA), signed into law on July 15, 2008, encompasses significant changes for Medicare beneficiaries. All Medicare Supplemental (Medigap) policies sold or renewed by or after July 1, 2010 must comply with the following rules. As of July 1st, 2010, the standardized Medigap plans, E, H, I and J, can no longer be sold. Those who currently own one of these plans may be allowed to keep their policy.
For the new Modern Medicare supplement plans, Hospice coinsurance has been added as a basic core benefit in Medigap A and all other Medigap policies. Medigap policies M and N are new standardized policies that can and will be offered by most insurers. These plans have higher cost-sharing for the Medicare Part A deductible and limited or no coverage for the annual Part B deductible ($135 in 2009). These new policies substitute set co-payments for coverage of the usual Part B 20 percent cost-sharing.
Plan M covers half of the Part A hospital deductible, has no coverage for the Part B annual deductible and provides for copayments of $20.00 for office visits and $50 for hospital Emergency Room visits. Plan N covers the Part A hospital deductible, but has no coverage for the Part B annual deductible. Plan N also imposes Part B copayments of $20.00 for office visits and $50 for hospital Emergency Room visits.
The new Modern Medicare supplement plans became available as of July 1st, 2010. For more information about rates and plan availability, email us at info@iiss.us or give us a call at (712) 276-1745 or Toll-Free (877) 276-1745.
Medicare Advantage (Part C)
Medicare Part C (Medicare Advantage Plans) is a Medicare option in which private insurance companies approved by Medicare provides for your Part A and Part B medically necessary services. Part C usually offers additional benefits and most include Part D prescription drug coverage. Part C is a low cost alternative to the original Medicare Plan, but plan availability will vary from area to area. Unlike a Medicare Supplement insurance which works with the original Medicare Plan, Part C has specified time periods when enrollment and dis-enrollment can take place. Feel free to contact us for more information about Medicare Advantage plans available in your area.
Neither Insurance & Investment Solutions of Siouxland TM ("IISS"), nor its agents, are connected with or endorsed by Medicare, Social Security, or any other governmental agency.
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