04/05/2010
Regence introduces Medicare Bridge Plans
We continue to demonstrate our commitment to Medicare beneficiaries throughout our communities by offering all possible types of coverage available, including: Medigap policies, Medicare Advantage plans and stand-alone Part D options. Despite uncertainties with health care reform, reimbursement levels for some Medicare programs, and modernization of Medigap, Regence will offer products, provide your clients with advice and education about their choices, and support you as you help each beneficiary find the coverage that's right for them.
We're proud to launch our modernized Medigap policies for you to share with your clients. Medigap plans may still be the best option as they choose what type of coverage is best for them. With Regence they will be joining a company that's here for the long haul. Despite whatever changes occur nationally or locally, we're dedicated to offering products and services that provide the best value.
Regence Bridge Plan Commissions: Effective 6/1/2010
| |
Plans
C and F |
Plans
A and K |
| Year 1+ of policy |
10% |
10% |
The value of Regence coverage goes beyond our products and excellent customer service. Members on these new Medigap policies also get to take advantage of the following:
CareEnhance®
CareEnhance is a toll-free, 24/7 health care information resource. Registered nurses provide quick and confidential professional guidance to members. As a result, members receive appropriate and cost-effective care. Additionally, CareEnhance provides an audio health library of more than 1,200 health topics that help members in their health care decisions.
myRegence.com
The award-winning myRegence.com, powered by the Regence Engine®, is an innovative Web-based benefit information source and health community where members can search for providers, check their claims status and research a vast array of health topics.
Regence Advantages
Regence members receive discounted products and services from leading health-related companies, including: vision and hearing care services, gym membership discounts, weight-loss programs and more!
Medigap Modernization
In 2003, Congress passed the Medicare Modernization Act (MMA), which created a voluntary Medicare prescription drug benefit (Part D). The MMA directed the National Association of Insurance Commissioners (NAIC) to make changes to its Medigap Model Regulation to conform to MMA and for states to adopt such changes into their laws and/or regulations. In 2008, Congress passed the Medicare Improvements for Patients and Providers Act (MIPPA), which finalized the changes into federal law.
Here are some of the changes and timelines for implementation of the new (2010) modernized plans:
- Elimination of Plans H, I and J (which contained prescription drug benefits prior to MMA)
- Elimination of Plan E (as it becomes identical to Plan D once the Preventive Care benefit and the At-Home Recovery benefit are removed)
Addition of new benefit plan options with higher cost-sharing and lower premiums
- Creation of new Plan M –with increased cost-sharing
- Creation of new Plan N –with a new copay structure
Modernization of benefits
- Elimination of At-Home Recovery benefit (which was offered only on Plans D, G, I and J) in favor of a new Hospice benefit to be added as a Core benefit to every plan
- Elimination of the underutilized Preventive Care benefit (which was only offered in Plans E and J) in recognition of the fact that Medicare now includes more significant preventive care benefits
- Replacement of the 80% Part B Excess benefit in Plan G with 100% coverage
Cut-off and underwriting
- June 1, 2010, is established as the earliest effective date for coverage under a 2010 standardized plan policy, and as the cut-off for carriers issuing policies with the 1990 standardized benefit packages.
- Carriers are not required to offer existing policyholders the opportunity to exchange their existing policies for a 2010 policy without medical underwriting.
Frequently Asked Questions
When will the Regence Bridge Plans be available?
Sales brochures and applications will be available for order very soon. Information will be available on our public Web site beginning in May for the first possible effective date of June 1, 2010.
What about existing members who are on pre-standard coverage or the 1990 standardized plans?
Members may remain on them. The 1990 standardized plans will be closed to new sales for effective dates after May 1, 2010. Existing members may remain on them as long as they continue to pay their premiums.
What if an existing client wants one of the modernized plans? Existing members may apply for one of the modernized plans, but they're subject to underwriting if they apply outside any guaranteed issue period.
Why did Regence choose to offer Plan K? Plan K is an affordable option for those Medicare beneficiaries who are relatively healthy and are looking to minimize how much they pay in premiums on a monthly basis.
We value your partnership and appreciate your assistance in providing health care solutions to Medicare beneficiaries in our communities. We look forward to providing you with the comprehensive information you need as you help your clients find the coverage that's best for them. Please call us with any questions at 1 (800) 557-0555 or talk to your Regence Sales contact.
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