Independence Blue Cross Offers New Medicare Supplement Policies
Plans include enhanced hospice benefits compliant with Medicare regulations
Philadelphia, PA - May 28, 2010 - Independence Blue Cross (IBC) today announced that starting next month it will offer five new individual and three new group Medicare-supplement health plans, often referred to as "Medigap" plans. These new products will be called MedigapSecurity, and will be available to Medicare-eligible beneficiaries beginning June 1, 2010.
Potential members are encouraged to visit ibxmedicare.com to learn more about all available options and to check eligibility requirements.
IBC's current Medigap offering — Security 65 — will not be available to new members beginning with June 1, 2010, effective dates. However, current Security 65 members may remain enrolled with no benefits changes.
The MedigapSecurity plans are very similar to Security 65, plus they offer a Medicare Part A hospice cost-sharing benefit that fulfills the benefits coverage requirements in the 2008 Medicare Improvements for Patients and Providers Act.
"We are very pleased to offer these new plans that provide a good blend of product flexibility, added coverage, and affordability that many Medicare beneficiaries are seeking," said Steve Fera, vice president Government Business. "We're proud of our long-standing commitment to seniors in our region, and are excited about expanding our plans to provide more choice for this important and growing segment of our business."
What are Medigap products?
Medigap insurance combines the benefits of traditional Medicare and features of a private health plan, helping to pay expenses that Medicare doesn't cover, such as copayments, coinsurance, and emergency care when members travel outside the U.S. Members who wish to purchase prescription drug coverage can buy a Part D plan separately.
- five individual plan choices: A, B, C, F, and N and three group plan choices: A, B, and C;
- freedom and flexibility of no referrals;
- virtually no claim forms;
- coverage for services when traveling throughout the U.S.;
- access to wellness programs, such as weight management and smoking cessation;
- emergency coverage when traveling outside the U.S. with Plans C, F, and N.
For members who choose not to purchase a Part D drug plan, IBC offers a discount drug program that helps beneficiaries save on prescriptions. This no-cost option is available with the new MedigapSecurity plans.
Interested beneficiaries can obtain information by calling for an information kit, attending a free informational meeting, or by requesting a home visit by a marketing representative. IBC also offers several Medicare Advantage (HMO and PPO) plans with or without drug coverage.
About Independence Blue Cross
Independence Blue Cross is a leading health insurer in southeastern Pennsylvania. Nationwide, Independence Blue Cross and its affiliates provide coverage to nearly 3.3 million people. For more than 70 years, Independence Blue Cross has offered high-quality health care coverage tailored to meet the changing needs of members, employers, and health care professionals. Independence Blue Cross's HMO and PPO health care plans have consistently received the highest ratings from the National Committee for Quality Assurance. Independence Blue Cross is an independent licensee of the Blue Cross and Blue Shield Association.