Medicare Supplement Comparison New Plans & Different Prices

If you are a Medicare beneficiary, or soon will be

, it is very important to do a Medicare Supplement Comparison after June 1st, 2010.After June 1st, 2010 almost all Medicare Supplement Insurance companies are changing their prices, adding new plans, and eliminating others.To ensure you purchase the best plan and save the most money it is important to compare all plans and companies.

Most Medicare Supplement companies are using this date as an opportunity to change prices for their plans. In doing such, many insurance companies are lowering their rates to make them more competitive. This is the single most important reason why it is so important to do a Medicare Supplement Comparison after all changes have been made. You may be able to save a significant amount of money by lowering your monthly premium.

In addition to lowering prices, a few major companies such as Blue Cross and AARP are changing the method in which they price their Medicare Supplement Plans. They are moving to an Age-Attained pricing method just like the other companies that offer Medicare Supplemental Insurance, which means they will raise their prices every year on your birthday. However, prices will likely be lower when you first enroll.

Two new plans will be introduced to the marketplace on June, 1st. These plans do not offer great coverage and are not much cheaper than the best Medicare Supplement Plans available, but they are designed to compete directly with Medicare Advantage plans and may be a good option for some people. People who like Medicare Advantage plans, but are seeing their prices increase and benefits decrease should do a Medicare Supplement Comparison of Plans M and N to see if they can save some money and receive better benefits. The one immediate benefit these plans have over Medicare Advantage plans is there are no provider networks, which means the plan beneficiary can visit any doctor or hospital as long as they accept original Medicare.

Four Plans are being eliminated on June 1st, the most important of which is Medicare Supplement Plan J. Make sure to exclude plans E, H, I, and J when doing a Medicare Supplement Comparison Comparison because these plans will no longer be available. The reason these plans are being eliminated is because Medicare is eliminating two benefits altogether, which are Preventive Care and At-Home Recovery.

Comparing Medicare Supplement Plans has never been easy. However, it is important for all Medicare beneficiaries to do a Medicare Supplement Comparison after June 1s to make sure they have the best plan for the best price. Many changes are being made and they will likely provide an opportunity for most people to save money and increase their benefit package.

by: Mark Simpson

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