2010 developments in medicare insurance plans


Medicare beneficiaries may or may not be directly affected, nevertheless these individuals should know that there are significant changes with the insurance plans this year. Since there are a few that would be phased out, two new plans will be added to those that will be retained.

The two new plans are called Plan N and Plan M.  Each plan has a cost sharing factor.  When you visit a physician or a hospital, one plan make use of annual deductible while the other a co-pay.  In exchange for paying a small amount out of pocket, the client can lower their annual premiums from 15 to 30%.

Now the question is, will these recent developments work? Actually, many seniors are willing to accept some cost sharing method, such as co-pays and deductibles, just to keep their Medicare supplement premiums low.  Accordingly, some insurance companies will begin offering the approved new plans which offer lower premiums in exchange for the insured accepting some additional risk.