Medigap Insurance Plans
Medigap insurance policies are also known as Medicare supplement insurance because A Medigap insurance policy covers the gap left by normal Medicare health insurance policy. As there are different Medicare Health insurance, in accordance there are 12 different Medigap insurance policy are available in market and these were named alphabetically from A-L. The range of premiums of these Medigap insurance plans are different with different Medicare Supplement Insurance Companies but not the benefits because the benefits issues are monitored by sate and Federal laws of the country.
Presently, effective from 1st June 2010, two new Medigap insurance have been introduced in the market and these two plans are named as Plan M and Plan N and the plans known as J, H, I and E are made discontinued for further use and implementation in new policies although the existing members will have the privilege to continue with these Medigap insurance.
The speculators are anticipating about the increased popularity of Plan M and N, respectively of Medigap insurance because these two will help in reducing the premium range and will be increasing the health coverage range. If we have a close view of Plan M and N, respectively, we will be able to find lots of similarities with the health coverage factors provided by F plan. The M plan covers 50% of $1.000 deductible for Medicare part-A, but the part-B deductible of $155 is not covered by Plan M or Plan-N either.
Moreover, the newly introduced plan M does not provide coverage for excessive charge issue as it is incorporated in Part-B section of the policy coverage details. The excessive charge pays off the extra cost incurred by doctors’ consultation charges which is accepted by Medicare norms as an additional expenditure for health fitness of the policy holders for better level of complacency.
In contrast to Plan M, the newly introduced plan N of Medigap insurance plan has provision for covering the part A, $1,000 deductible. There is a liability of $20 as co-payment for appointment at the doctor’s chamber and in case of any treatment requirement in Hospital emergency the policy holder will have to pay $50 as co-payment.
Due to apparently bigger and more precise health benefits and coverage most of the Medicare Supplement Insurance Companies are promoting more N plan than the Plan-M; while plan N covers all the benefits of previous popular plan -F it is offering this enhanced coverage range in lieu of 35% less premium amount for this benefit.
If you are going to sign up for Medigap insurance plan for the first time, you can qualify foe any of the existing health irrespective of the present condition of your health provided you sign in the said Medigap health insurance plan within the open enrollment session, i.e. within 30 days of activation of normal Medicate policy. However it has become almost a market trend that those who had previously health plan coverage of H, J, E or I plans, respectively, they are redirecting their Medigap insurance for new plan M or Plan N for better benefit and low premium range facilities.
