Original Medicare Parts A and B cover most, but not all, health supplies and services. For this reason, you may need to consider a Medicare supplement plan. Unlike Medicare, Medicare’s supplemental plans are provided by private insurance companies. Medigap covers the payment of a portion of the medical and hospital costs not covered by Original Medicare, such as co-insurance, co-payment and annual deductibles.

1. MASON SOIZA: MEDICARE SUPPLEMENT PLAN M & N

2. SINCE 1992, THE YEAR OF THEIR STANDARDIZATION, MEDICARE’S
SUPPLEMENTARY PLANS ARE PRACTICALLY THE SAME. MEANWHILE,
AS OF JUNE 1, 2010, TWO NEW PLANS, M & N, HAVE BEEN INTRODUCED
AND INCLUDE CHANGES TO MEDICARE SUPPLEMENTS. THIS ARTICLE
EXPLAINS HOW THE 2 RECENTLY INCLUDED PLANS WHICH ARE
MEDIGAP POLICY M AND MEDIGAP POLICY N, FUNCTION, AND HOW
THEY PROVIDE THE BENEFICIARIES WITH INSURANCE.

3. THE LATEST MEDIGAP STANDARDIZED PLANS OFFERED BY PRIVATE
INSURANCE COMPANIES BASED IN SOUTH CAROLINA TOGETHER WITH
ACROSS THE COUNTRY ARE THE MEDICARE M AND N SUPPLEMENT
PLANS. THESE TWO NEW PLANS OFFER A CHEAPER ALTERNATIVE TO
EXISTING MEDICARE SUPPLEMENT PLANS, AND MANY BELIEVE THESE
NEW FONTS WILL OCCUPY A PROMINENT PLACE AMONG THE POPULAR
ALTERNATIVES AMONG MEDICARE SUPPLEMENT PLANS, ESPECIALLY
WITH THE UPCOMING MAJOR CHANGES TO THE MEDICARE
ADVANTAGE PLAN.

4. MEDIGAP M PLAN:
ONE OF THE 2 NEW STANDARDIZED POLICIES, PLAN M IS A PLAN THAT
EMPLOYS THE USE OF COST-SHARING TO REDUCE INSURANCE
COSTS. WHAT THIS MEANS IS THAT, IN EXCHANGE FOR A BIT LESSER
MONTHLY PREMIUMS, INDIVIDUALS WHO SUBSCRIBE TO PLAN M
SHARE EXPENSES FOR MEDICARE PART A EXPENSES WITH THE
INSURANCE COMPANY AT 50%. THE INSURANCE COMPANY WILL PAY
HALF AND THE OTHER HALF WILL BE PAID BY THE BENEFICIARY OF THE
PLAN.PLAN M DOES NOT IN ANY WAY GUARANTEE THE EXEMPTION OF
MEDICARE PART B;

5. HOWEVER, NO PAYMENT IS MADE TO THE PHYSICIAN’S OFFICE IF THE
PART B EXEMPTION IS MET. MOST ANALYSTS EXPECT PREMIUMS FOR
THIS PLAN TO BE 15% LOWER THAN CURRENT F PREMIUMS.IF YOU
WISH TO SUBSCRIBE TO THE MEDIGAP M PLAN OR ANY MEDIGAP PLAN,
YOU CAN REGISTER FOR MEDIGAP DURING THE 6 MONTH OPEN
REGISTRATION PERIOD. THIS 6-MONTH PERIOD BEGINS ON THE FIRST
DAY OF THE MONTH IN WHICH YOU ARE OVER 65 AND ARE ENROLLED
IN MEDICARE PART B.

6. MEDIGAP PLAN N:
THE N PLAN WHICH IS ONE OF THE 2 NEW STANDARDIZED PLANS ALSO
DEPLOYS COST-SHARING TO REDUCE MONTHLY PREMIUMS. RATHER
THAN UTILIZE THE DEDUCTIBLE SHARING METHOD SUCH AS THE M
PLAN, USE BUNDLED PAYMENTS TO REDUCE THE COST OF THE
PREMIUM. THE CO-PAYMENT SYSTEM COSTS $20 FOR DOCTOR VISITS
AND $ 50 FOR EMERGENCY ROOM VISITS. ACCORDING TO CURRENT
ESTIMATES, THIS PAYMENT SYSTEM WILL CEASE ONCE PART B OF THE
MEDICARE EXEMPTION HAS BEEN COMPLETED. THIS PLAN MUST
PROVIDE REWARDS THAT ARE 30% LESS THAN THE MEDIGAP F
PREMIUMS.

7. THESE PLANS, M AND N, CAN BE PARTICULARLY INTERESTING FOR
THOSE WHO LEAVE THE MEDICARE ADVANTAGE PROGRAM, OR
BECAUSE THEY HAVE BEEN FORCED TO DO SO (FOR EXAMPLE,
CANCELING THEIR PLAN) OR BY DECISION. BECAUSE MEDICARE
PREMIUMS SHOULD ALSO INCREASE FUTURE PLAN CHANGES FOR
THESE TWO PLANS WILL DECREASE (RELATIVE TO THE COSTS OF THE
ORIGINAL MEDICARE CARE PLAN). MANY EXPECT THAT THERE WILL BE
A SMALL DIFFERENCE IN THE PREMIUM FOR M AND N COMPARED TO
THE NEW MEDICARE ADVANTAGE COSTS. SINCE THESE PLANS HAVE
BEEN IN EXISTENCE SINCE JUNE 2010, MEDICARE ADVANTAGE AND
EXISTING PLANS NEED TO BE CAREFULLY REVIEWED AND THE
BENEFITS OF BOTH NEW PLANS COMPARED TO THEIR INSURANCE
BENEFITS.