Should the standardized benefit packages in Medigap policies be restructured since there have been significant expansions in preventive and prescription drug benefits through Medicare?
The National Association of Insurance Commissioners (NAIC) has undertaken an effort to modernize the standard Medigap offerings by reducing the number of offerings, adding to the “basic benefits”, providing additional cost-sharing options that in turn reduce premiums, and eliminating underutilized and redundant benefits (removal of plans E, H, I, J). There are no changes in enrollment rules or guaranteed issue rules. These proposed changes will not be adopted without federal legislative action. The old model is still in force.
Related Questions
- Should the standardized benefit packages in Medigap policies be restructured since there have been significant expansions in preventive and prescription drug benefits through Medicare?
- What do people with Medigap policies need to do to get Medicare prescription drug coverage?
- What changes did Congress make to the standardized Medigap packages?
