Medigap Advisors Host Educational Teleseminar For 500,000 Medicare Beneficiaries Losing PFFS Plans

March 29, 2011 - PRLog -- Leading health insurance companies, like Coventry and WellCare, are cutting back on offering Medicare Advantage Private Fee-for-Service (PFFS) plans.  That decision by these two carriers alone impacts more than 500,000 Medicare beneficiaries.  Medigap Advisors will help beneficiaries compare ways to replace lost coverage with a complementary Informational Teleseminar and Live Question & Answer Session on Monday, April 4 at 5 PM Eastern.  

PFFS plans have been popular because they allowed Medicare beneficiaries to choose their own healthcare providers.  Rather than being restricted to a limited number of in-network Medicare-approved providers, beneficiaries could see any provider who agreed to charge in accordance with the PFFS fee schedule, which was the same as the Medicare fee schedule.  As of the beginning of this year, that changed.  PFFS plan beneficiaries now have to select their healthcare providers from within the plan network.

Like other Medicare Advantage plans, PFFS plans contract with the Centers for Medicare and Medicaid Services to provide Medicare benefits.  PFFS providers pay for members’ health care instead of Medicare, and the PFFS providers often include additional benefits beyond those of Original Medicare (Parts A and B).

Private health insurance companies offering PFFS and other forms of Medicare Advantage plans had received government subsidies.  These subsidies were frozen because benefits provided through Advantage plans were costing more than making benefits available through Original Medicare.  

Decreased government reimbursement for PFFS plans (down approximately five percent) makes the plans less profitable for insurance carriers.  It is expected that more insurers will join Coventry and WellCare by dropping these plans.

Medicare Advantage plans basically replace Original Medicare and frequently offer extra benefits.  The cost of such plans can be extremely inexpensive, but these plans typically restrict which providers that members may see in non-emergency situations.  In addition, members may require a referral to see specialists and Advantage plans are not available in all locations.  

Medigap plans offer an alternative.  Rather than replace Medicare benefits, Medigap Insurance plans expand Original Medicare benefits or fill in the gaps of Medicare.  Ten different types of Medigap plans are standardized by law to provide specific benefit packages.  With so many options available, Medicare beneficiaries need the opportunity to review the pros and cons of choices so they can make an informed decision about how to reduce their risk of medical debt.

Medigap Advisors is hosting the complementary Informational Teleseminar and Live Question & Answer Session to increase public awareness of the options available for the more than 500,000 Medicare beneficiaries who are losing PFFS plan coverage this year.  Free registration for the session on Monday, April 4 at 5 PM Eastern is available at http://www.MedigapAdvisors.com/teleseminar.htm on a first-come, first-served basis.  Participants will also receive "Choosing A Medigap Policy: A Guide for Health Insurance for People with Medicare.”

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About Medigap Advisors:

As the nation's leading independent online expert on Medicare Advantage plans and Medigap insurance, Medigap Advisors provides free and immediate access to licensed insurance professionals at 1-866-323-1441 between 9 AM and 11 PM Eastern.

As independent brokers, these personal advisors are free to help Medicare beneficiaries of all ages compare the coverage options that are available from different insurance companies.

Comprehensive education and information on ways to complete Medicare and reduce financial risk is available at http://www.MedigapAdvisors.com/. In addition, Medigap Advisors publishes a free Health & Wealth report and offers powerful online tools to reduce the cost of health care at http://www.medigapadvisors.com/member-benefits.htm.