Are you ready to compare the best Medicare Supplement insurance plans in New York? Medigap policies can help you manage healthcare costs by picking up the bill for deductibles, coinsurance, and copayments from Original Medicare insurance. In order to make sure that you select the best Medicare Supplement plan in New York for your needs, take a moment to learn more about how Medigap works in this state.
What are the Top 5 Medicare Supplement Plans in New York?
1. Medicare Plan F: Full Coverage with Highest Level of Benefit
Plan F has the most Medicare Supplement insurance plans that has a comprehensive benefit level; however, the recipient must have a Medicare start date that is prior to January 1, 2020. Its primary selling point is that it includes both the Medicare Part A deductible and Medicare Part B deductible.
2. Medicare Plan G: Most Popular and Very Comprehensive
Plan G has the most comprehensive coverage for those with a Medicare effective date post January 1, 2020. Also, it is a great cost savings plan vs. Plan F for individuals that can have the option to choose either.
3. Medicare Plan N: Great Value for Good Coverage
Plan N is great for individuals wanting comprehensive coverage but is willing to trade certain benefits for additional monthly savings. For example, ER visits will generally have a $50 copay, but if admitted, the copay is waived. As for doctor’s visits, it will cover up to $20.
4. Plan High Deductible F: Great Cost Savings Paired with Original Plan F Benefits
The high deductible version of Plan F is the same but requires an annual deductible to be met before coverage kicks in. This plan is substantially cheaper than the original plan F option.
5. Plan G High Deductible: Innovative Plan that Greatly Reduces Monthly Premiums
This plan is similar to Plan G in all ways except for the annual deductible to be met prior to coverage starting. Plan G with Higher Deductible is more affordable than the other Plan G option.
What is the Best Supplemental Insurance to go with Medicare?
The most popular Medicare Supplement plan in New York in 2021 is Plan G. Medicare enrollees consider it to be the best Medicare Supplement plan because it has the most well-rounded coverage and affordable rates.
Best for comprehensive coverage: Plan G
With Medigap Plan G, you can use any doctor in the United States who accepts Original Medicare. Medicare Supplement Plan G will cover all of Medicare Part A coinsurance, deductibles, and copays.
The only thing it does not cover is the out-of-pocket costs for the Part B deductible. Although, all of Medicare Part B Coinsurance and copays are covered. In regards to prescriptions, see the note below the list about a Medicare Part D plan. Other basic benefits include:
- Ability to change doctors anytime
- Freedom to go to any hospital or facility for health care that takes Original Medicare
- No referrals required
- No need to stay within a network
- Foreign travel emergency
- Excess Charges are covered 100%
- Prescription drug coverage for all Part B medications
*Medicare Part D Plan: Plan G cannot cover outpatient retail prescriptions, the Medicare Part D Prescription Drug Plan will do that.
Best for full coverage: Plan F
Before 2021, Plan F was considered one of the best Medicare Supplement plans in New York in regards to full coverage; however, it’s only available to individuals who became eligible for Medicare coverage before January 1, 2020. Unlike Plan G, Plan F includes the Medicare Part B deductible as part of its cost.
If you don’t qualify for Plan F Medicare coverage, then Plan G will be the most comprehensive of all the Medigap policies. The only difference when you compare the plan options is that Plan G does not include Medicare Part B. See how Plan G and Plan F compare below.
What is the Average Cost for a Medicare Supplement Plan in New York for 2021?
The average cost will depend on the insurer. Their pricing will be based on community ratings, issue age, and attained age. Community rating is priced for beneficiaries of all ages, whereas issue age is based on the age at purchasing, and attained age premiums increase with age.
Common New York Medicare Supplement Plan Questions
What Companies Sell Medigap Plans in New York?
1. Cigna – Known for Their Guidance and Help: Cigna is rated as a trusted company that has over 165 million customers who can access their Medicare plan anytime, anyplace.
2. Aetna – One of the Largest Health Insurers: Aetna has more $0 premium Medicare Advantage plans, extensive extra benefits, and pay your premium at some CVS locations.
3. Mutual of Omaha – Considered Most Financially Stable: MOH has great customer satisfaction and local agents to help you understand what plans are best for you.
4. Florida Blue Cross Blue Shields (Florida Residents Only) – Great Medicare Ratings: Received 4.5-star rating from Medicare in 2021 for overall, above-average, and average ratings for health/drug plan services.
When Can I Apply for a New York Medicare Supplement Plan?
During the six-month Medigap Open Enrollment period will be the best time to gain Medicare benefits. This time will offer pricing and options from a Medicare insurance company that are better.
Age 65 or older,your enrollment begins when you have Part B. It can’t be changed or repeated.
When turning 65,the first day of the month your birthday will begin your six-month period to enroll. Enrollment in Part B will be needed.
Under the age of 65,you may not have eligibility. Some states require Medigap insurance companies to sell policies to those under 65, but it generally costs more.
Enrollment periods do not apply to Medicare supplement plans. They only apply to Part D Plans, Medicare Advantage, Aging into the Federal Medicare Program, Retiring from group coverage, and Losing a Medicare Advantage plan.
If you are receiving Social Security, the SSA will automatically sign you up and handle your enrollment for Medicare Part A and Medicare Part B at the age of 65. The Federal Medicare Program is operated by the federal Centers for Medicare & Medicaid Services.
In New York, if you’ve been receiving disability benefits for 24 months, you have eligibility to enroll in Medicare.
*Remember you have guaranteed issue rights, so an insurance company can’t refuse to sell you a Medigap policy if the following happens:
A Medicare Advantage Plan leaves Medicare or stops providing in your area
You move out of the plan’s service area
Which is better, Plan G or Plan N?
Similar to the data above, both are great plans. Plan G is more comprehensive with slightly higher premiums, and Plan N, in exchange for lower premiums, will require Medicare beneficiaries to pay small portions as they use the plan. Plan G is currently the most popular plan. Also, Plan G covers Medicare Part B excess charges; Plan N does not.
What is Medicare Supplement Insurance?
Medicare Supplement Insurance, also called Medigap, is an insurance policy that fills in the gaps that Original Medicare doesn’t cover no matter pre-existing conditions. It is important to have a Medigap policy because it will help to pay for the costs associated with medical expenses, services, and supplies related to healthcare. Medigap insurance will help pay copayments, deductibles, and coinsurance.
Is Plan G the Best Medigap Plan in New York?
How Much Does it Cost?
A 65-year-old female(nonsmoker) living in New York (zip code:10451/Bronx), the monthly premium for Plan G insurance will be:
Medicare Plan G:$270-$470
High Deductible Plan G: $90-93
What is Plan G deductible in 2021?
There is no part a deductible, only part b. Plan G is a Medicare Supplement insurance plan in New York that does not pay the Medicare Part B deductible, which $203.
What does Medigap Plan G Cover in New York?
Ready to Learn More?
My Medigap Plans is a rapidly growing resource for Medicare beneficiaries. We specialize in educating consumers on their options and guiding them through the process of plan selection. We work closely with some of the nations top rated carriers such as Aetna, Cigna and Mutual of Omaha. Compare our list of the 10 Best Medicare Supplement Insurance Companies or take a deeper look at the plans by reviewing our Medicare Supplement Plans Comparison Chart. Learn more or about Medicare Part D Prescription Drug plans, or request a Medicare Supplement Plan Quote.
New York Medicare Resources?
New York Enrollment Statistics
You might be interested in learning about other New York Medicare recipients. First, review a few facts about New York Medicare and Medicare Supplement insurance plans:
- About two million New York residents have enrolled in Medicare Part A and Part B.
- Over 400,000 people enrolled in Medicare Supplement plans in New York.
- Just about half of the state’s beneficiaries decided that Plan F was the best Medicare Supplement insurance plan in New York for them.
- There are 10 Medicare Supplement Plans in New York to choose from.
- In New York, Medicare Supplement Plan G is the most popular plan.
- Medigap Plans do not use a network, go wherever Original Medicare is excepted