The new Medicare Improvements for Patients and Providers Act (MIPPA) provides much needed new coverage options for Medicare beneficiaries looking for additional coverage – beyond what their Medicare Parts A & B cover. The new options come in the form of two new Standardized Medicare Supplement insurance plans – M & N. We are expecting these plans will be very affordable for many people because they allow more cost sharing with the policyholder in the form of co-pays at the doctor’s office (Plan N) or only covering 50% of the Medicare Part A deductible (Plan M).
The new Standardized M & N Medicare Supplement insurance plans will be a welcome option for some seniors. This is because (1) competitive rates, (2) Medicare Supplement insurance plans are guaranteed renewable for life, therefore policyholders will not worry if their plan will offered the following year, and (3) Medicare Supplement insurance plans work with traditional Medicare Parts A & B.