Medigap Plan I - Medicare Supplement
Beginning June 1, 2010 Plan I will no longer be offered as a Medicare Supplement plan. Current policyholders should note that current Plan I enrollees will not lose their current Plan I coverage.
Medicare Supplement Plan I covers most of the main expenses that are approved by the Original Medicare Insurance as health care expenses, it also covers all of the major gaps in coverage left by Medicare Insurance. This plan covers 100% of the Part B Excess Charges, but does not cover the Medicare Part B deductible. This plan would be extremely beneficial to someone who expects to have significant costs above what Medicare will pay. Preventative Care and At Home Recovery are not covered by Medicare Insurance. However, Medigap Plan I does pay for At Home Recovery. If you do not mind assuming the risk for Medicare Part B deductible, this plan could be a good fit for you.
Included in Plan I is coinsurance for Part A, coinsurance or copay for Part B, skilled nursing care coinsurance, and hospice copay or coinsurance. Plan I also covers excess charges under Part B, the Part A deductible, and coinsurance for Part B preventative care. Additional Blood coverage is also included along with Foreign Travel Emergency, and the At Home Recovery benefit which is unique to certain plans.
Not included in Plan I would be the Medicare Part B Deductible, Preventive care not covered by Medicare (up to $120), and Hospice Care Coinsurance or Co-payment.
Effective June 1, 2010 Plan I will no longer be offered as a Medicare Supplement plan. Policyholders can take note, however, that current Plan I enrollees will not lose their current Plan I coverage. One of the main changes in Medicare's effort to modernize their plan offerings is the elimination of certain benefit options. Preventive Care and At Home Recovery are being removed due to a lack of use, making Plan I unnecessary. This is why the plan is being eliminated and Plans M and N are being introduced in its place.
As stated before, policyholders that are currently enrolled in Plan I will not be kicked off of their plan coverage or be forced to leave. They will enter what is called a "closed" block of business. There will simply be no more Plan I coverage sold after June 1, 2010.
It can be difficult to determine which plan is right for you, and not all providers offer all of the Medicare Supplement Plans. Our trained specialists can help you find the plan that best fits your needs and budget. Most insurance carriers offer a variety of plans, so our specialists can help you shop around for the best price.