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Medicare Supplement (Medigap) Plans M & N

Beginning June 1st, 2010 Medicare Supplement Insurance (Medigap) will include two new choices for consumers – Medicare Supplement “M” and Medicare Supplement “N”.

If you’ve been eligible for Medicare Supplement Insurance on your own insurance (or for your spouse with you who has insurance, since the two plans are identical), you will be able to choose one of these two plans and exchange an existing plan and Statement of Insurance (SOI) with a new plan. Among the benefits that Medicare Supplement “M” offers consumers over and above the benefits of any existing statement of insurance (SOI, if you have one) includes: no more limits on out-of-pocket costs;

no more limits of benefits and/or deductibles; and

no more annual limits on out-of-pocket costs. Any Medicare Supplement “N” plans will also continue to offer all the out-of-pocket and deductibles of your existing applicable plans, excluding extensions and deductibles The difference between “M” and “N” will simply be a choice to obtain the “M” – or add on your existing plan and SOI – or the “N” – or replace your current plan with a new, different, and separate plan. Thus, after accounting for co-pays, and excluding any benefits not included in the base or statement of insurance, both plans will offer all of the limits on out-of-pocket costs. For a full description of these features click here. Which plan should you choose? The decision on whether to add a “M” or “N” as your option for coverage on a statement of insurance (SOI) falls on you. If you enjoyed the benefits obtained by many on here prior to the changes set to go into effect with June 1, 2010, you should strongly consider a “M” plan – so long as you can afford it. This is also true for consumers who seek coverage for their spouse under a Medigap plan. The basic principles and benefits of the two plans are the same – and as with all changes in your health insurance, it really comes down to what you can afford. As always, you need to weigh the pros and cons, and find out what is best for you. Who qualifies for Medicare Supplement Insurance? All individuals who are eligible for Medicare (including those who attain Medicare at age 65) and who are enrolled in at least one of the following plans (and have not satisfied their out-of-pocket cost limit): Medicare Advantage Plan (MA Plan) with at least a 30% or Platinum level membership in a Medicare Supplement (Medigap) plan, (not including an MA Plan that has a membership under which all enrollees are eligible to participate if they seek coverage); Medigap Individual Plan to obtain prescription drug coverage, Medicare Advantage prescription drug plan premiums, Medicare Part D prescription drug coverage for prescription drugs, or Medicare wellness program premiums; Medicare and Medicaid plan financing plans; Medicare supplemental health insurance (“Blue Plan” or similar defined benefit health coverage for all beneficiaries); Medicaid supplemental health insurance (“Blue Plan” or similar defined benefit health coverage for all beneficiaries); or Medicare supplement insurance coverage in the case of family members. The following individuals who are eligible under any of these plans and who are enrolled in at least one of the following plans (and in which three or more individuals are eligible to enroll by August 1, 2010: Medicare Advantage plan; Medigap Individual plan; or Medicare supplement individual plan totaling at least $30,000) may obtain coverage on a Statement of Insurance (SOI) pursuant to Medicare Supplement “M” or Medicare Supplement “N”. Candidates since August 1, 2010 who remained eligible for Medicare coverage and were enrolled in a Medicare Advantage plan, and who meet the SSA deadline of April 15, 2010 can obtain coverage through a Report of Coverage made by their employer or contractor. Prior to May 31, 2011, candidates who remain eligible for coverage under Medicare Supplemental policy can obtain coverage through a Form 4868 made by an independent contractor or agent. An independent contractor is not required to turn in his or her policy from an earlier quarter unless it’s expired. If the independent contractor or agent won’t generate a Form 4868 the candidate can obtain coverage through the acquisition of the policy through Section 1176 of the Affordable Care Act if he or she so chooses. Note that questions regarding whether an individual qualifies under any of these plans to receive coverage via “M” or “N” for coverage on a Statement of Insurance (“SOI”) will not be answered by the Medicare SSA. They will, however, be answered by the insurance companies, commercial and/or HMO. Are the Medicare Supplement “M”, Medicare Supplement “N” plans comparable to the policies offered directly by your insurer? The biggest difference between the Medicare Supplement “M” and “N” plans will likely be a lack of “Annual Limits”. Because the plans cannot limit your covered benefits the “M” plans offer tens of thousands of names of physicians, hospitals and other providers to which consumers can purchase coverage.

Thank you for your interest. If we did not answer your question or you have general questions please call 972-800-6670

List of Medicare Insurance Companies

Accendo Insurance Company

Aetna Health Insurance Company

American Retirement Life Insurance Company

Americo Financial Life and Annuity Insurance Company

Amerigroup Insurance Company

Atlantic Coast Life Insurance Company

Bankers Fidelity Assurance Company

Bankers Fidelity Life Insurance Company

Blue Cross and Blue Shield of Texas, A Division of Health Care Service

Capitol Life Insurance Company, The

Catholic Life Insurance

Central States Health & Life Co. of Omaha

Christian Fidelity Life Insurance Company

Cigna Health and Life Insurance Company

Colonial Penn Life Insurance Company

CompBenefits Insurance Company

Companion Life Insurance Company

CSA Fraternal Life

EPIC Life Insurance Company, The

Everest Reinsurance Company

First Health Life and Health Insurance Company

Garden State Life Insurance Company

Globe Life And Accident Insurance Company

GPM Health and Life Insurance Company

Great Southern Life Insurance Company

Guarantee Trust Life Insurance Company

Heartland National Life Insurance Company

Humana Benefit Plan of Illinois, Inc.

Individual Assurance Company, Life, Health & Accident

Loyal American Life Insurance Company

Lumico Life Insurance Company

Medico Corp Life Insurance Company

Nassau Life Insurance Company of Kansas

National Guardian Life Insurance Company

National Health Insurance Company

Old Surety Life Insurance Company

Omaha Supplemental Insurance Company

Oxford Life Insurance Company

Pan-American Life Insurance Company

Pekin Life Insurance Company

Philadelphia American Life Insurance Company

Physicians Life Insurance Company

Puritan Life Insurance Company of America

Renaissance Life & Health Insurance Company of America

Reserve National Insurance Company

Resource Life Insurance Company

S.USA Life Insurance Company, Inc.

Sentinel Security Life Insurance Company

Shenandoah Life Insurance Company

Southern Guaranty Insurance Company

Standard Life and Casualty Insurance Company

State Farm Mutual Automobile Insurance Company

State Mutual Insurance Company

Thrivent Financial for Lutherans

Transamerica Life Insurance Company

Transamerica Premier Life Insurance Company

Unified Life Insurance Company

Union Security Insurance Company

United American Insurance Company

United Commercial Travelers of America, The Order of

United Insurance Company of America

United National Life Insurance Company of America

United States Fire Insurance Company

UnitedHealthcare Insurance Company (AARP)

Universal Fidelity Life Insurance Company

USAA Life Insurance Company

Western United Life Assurance Company

Best Medicare Supplement Plans in Texas

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