What you Need to know about Medicare Supplement Plan

What you Need to know about Medicare Supplement Plan

Typically, like the Medigap J supplement Plan, the Medicare supplement rates 2019 guarantees certain costs that are not insured by the Medicare plan. Unfortunately, Policy J is not available anymore. However, the Plan remains valid for those who joined the program as of June 1, 2010. In addition, there is also a separate annual deduction of about $260.

What does Plan J guarantee?

Like all Medigap or Medicare Advantage insurance Plans, Plan J guarantees a gap in Medicare’s A and B insurance Plan, and this includes:

  • Recovery at home
  • Attention through qualified assistance facilities.
  • Emergency assistance for trips abroad.
  • Excess of commissions / costs of part B
  • Medicare Co Insurance (i.e. Part B)
  • Franchises of part A and B
  • Up to $120 in preventive care, which Medicare does not guarantee

What the Plan does not guarantee:

Unfortunately, there are some health conditions that are not covered by Plan J (that is, according to the Centers for Medicare and Medicaid Services); and that include the following:

  • glasses
  • Dental care
  • headphones
  • Long-term care in the nursing home.
  • nursing assistance
  • eye care

The conclusion is the elimination of Plan J due to the need to improve the entire insurance infrastructure of Medicare.

Exclusion by default:

It has been frequently said that Plan J has been removed from the Plan due to the fact that there are two advantages similar to those of Plan F. Plan F was often viewed as the most complete of all Medicare Advantage Plans. The 2 particular benefits which distinguish Policy J from Policy F include home recovery and preventive care. The Centers for Medicare and Medicaid Services canceled these two insurances due to lack of use. Plan J, therefore, was eliminated due to that duplication.

Other considerations:

It is important to keep in mind that the Plan holders existing in Plan J, who are not affected by the above conditions, are subject to the so-called “closed assets lock”, which means that after the date of June 1 they will expire, no new contracts will be offered. There is considerable speculation that insurance rates for Plan J will increase due some factors mentioned earlier. Although this is helpful for some, its impact on current recipients has not yet been seen.

It is a sensible idea for any individual with a Plan to evaluate current Medigap Plans and compare the rewards and benefits with what they are currently paying. It may surprise you to know that you will be able to save money and get similar benefits to Plan J.Now, each of the insurance agencies establish a commission that it can offer to pay an agent or consultant to recommend its product. Insurers pay agents directly, so you never have to pay an agent for their services. The other way of thinking is that you pay that agent for your services as your customers, so you are thinking of more than what you will earn for each sale.