I WAS IN A HEALTHCARE MEETING TODAY WHO DISCUSSED 'MEDICARE - STAGE J. IS THIS A POLICY OTHER THAN MEDICARE/
Total Comments: 2
Posted: Sun Apr 18, 2010 01:55 am Post Subject:
Could you be referring to Medicare Supplement Insurance Plan J ?? This plan is no longer being sold due to conflict with Medicare Part D Prescription Drug Plan. Those who purchased prior to the change in law are permitted to keep it as-is, or keep it without the drug benefit, or change to a different MedSupp plan without proof of insurability and at the original issue age rate (with the same insurer).
Posted: Wed Apr 21, 2010 01:51 pm Post Subject:
This is not entirely true.
Medicare Supplement Plan J will be sold until June 1, 2010. It has not been bound with a drug plan for several years (since 2006); for the last four years, people seeking new coverage have had to buy standalone Part D prescription coverage with any Medicare Supplement plan if they desired drug benefits.
Persons currently having Plan J will be able to keep their plan, although since that book of business will be closed, your rates will probably increase faster than the national average as healthier people tend to move to newer and more attractively rated plans. Rates are largely driven by claims, and the new plans have no claims (yet), so many if not most insurers are lowering their rates for the new plans vs. their old analogues.
If you are interested in benefits similar to plan J, you may consider the new Plan F effective June 1, 2010. If you have no coverage other than original Medicare, however, you would be well advised to apply for an old Plan F or J effective immediately and then either convert to the new F (if the insurer allows this) or make a separate application for a new F effective 6/1/2010 and, upon approval, drop the old F effective 5/31/2010.
Hope this helps. If I haven't been clear enough, feel free to shoot me a PM.
Posted: Sun Apr 18, 2010 01:55 am Post Subject:
Could you be referring to Medicare Supplement Insurance Plan J ?? This plan is no longer being sold due to conflict with Medicare Part D Prescription Drug Plan. Those who purchased prior to the change in law are permitted to keep it as-is, or keep it without the drug benefit, or change to a different MedSupp plan without proof of insurability and at the original issue age rate (with the same insurer).
Posted: Wed Apr 21, 2010 01:51 pm Post Subject:
This is not entirely true.
Medicare Supplement Plan J will be sold until June 1, 2010. It has not been bound with a drug plan for several years (since 2006); for the last four years, people seeking new coverage have had to buy standalone Part D prescription coverage with any Medicare Supplement plan if they desired drug benefits.
Persons currently having Plan J will be able to keep their plan, although since that book of business will be closed, your rates will probably increase faster than the national average as healthier people tend to move to newer and more attractively rated plans. Rates are largely driven by claims, and the new plans have no claims (yet), so many if not most insurers are lowering their rates for the new plans vs. their old analogues.
If you are interested in benefits similar to plan J, you may consider the new Plan F effective June 1, 2010. If you have no coverage other than original Medicare, however, you would be well advised to apply for an old Plan F or J effective immediately and then either convert to the new F (if the insurer allows this) or make a separate application for a new F effective 6/1/2010 and, upon approval, drop the old F effective 5/31/2010.
Hope this helps. If I haven't been clear enough, feel free to shoot me a PM.
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