Medigap plans in New York (also known as Medicare Supplements) help reduce your out-of-pocket costs after Original Medicare (Part A and Part B) pays its portion of coverage. Unlike many other states, Medigap plans in New York allow year-round open enrollment. You’ll never need to answer underwriting health questions to enroll in coverage.
While the plan options are the same as in most other states, those on Medicare in New York have several extra perks. In this guide, we discuss these perks and how to find the best Medicare Supplement plan in New York.
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Medigap Plans in NY
Medigap plans in New York are the same standardized plans available in most states nationwide. Ten lettered plan options are available, plus high deductible versions of two of these plans.
By enrolling in a Medigap plan, you receive coverage for the costs Original Medicare leaves behind. Thus, you will have much lower – if any – out-of-pocket costs.
The most highly enrolled Medicare Supplement plans in New York are Medigap Plan F, Plan G, and Plan N. These plans are popular among seniors because of their low out-of-pocket expenses and optimal coverage.
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What are the Top Medigap Plans in New York?
The top three Medicare Supplement Plans in New York are similar to the top plans nationwide.
These three plans provide the best benefits at the lowest cost. Additionally, since you are eligible to change plans at any time, many New York residents enroll in Medigap Plan N until their health deteriorates and they require a higher level of coverage. This is a major perk of living in New York as a Medicare beneficiary.
How Much Do Medigap Plans in New York Cost?
Medigap Plans in NY are community-rated. This means that your monthly premium will not be affected by your age, health, or gender. Your monthly premium will be based on when you enroll in a Medicare Supplement plan.
The chart below shows a premium breakdown for Medigap plans in New York.
| Female, No Tobacco, New York ZIP Code 10014 | |||
|---|---|---|---|
| Medigap Plan | Monthly Premium Age 65 | Monthly Premium Age 75 | |
| Medicare Supplement Plan F | $318-$730* | $318-$730* | |
| Medicare Supplement Plan G | $278-672 | $278-672 | |
| Medicare Supplement Plan N | $206-$440 | $206-$440 | |
| Male, No Tobacco, New York ZIP Code 10014 | |||
|---|---|---|---|
| Medigap Plan | Monthly Premium Age 65 | Monthly Premium Age 75 | |
| Medicare Supplement Plan F | $318-$730* | $318-$730* | |
| Medicare Supplement Plan G | $278-672 | $278-672 | |
| Medicare Supplement Plan N | $206-$440 | $206-$440 | |
* If on Medicare before 01/01/020
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Year-Round Open Enrollment for Medigap Plans in New York
New York has a year-round Medicare Supplement Enrollment Period for all seniors. So, you can apply for a Medigap plan at any time of the year without needing to answer any health questions. However, Medicare Supplement premiums tend to be higher in New York than in most other states.
At any time, New Yorkers can enroll in a Medicare Supplement plan, and insurance companies cannot deny coverage. While plans may include a pre-existing condition waiting period, it generally only applies if you did not have creditable coverage in the last 63 days. However, if you did have creditable coverage, the waiting period could be waived.
This perk allows Medigap policyholders in New York to change plans when their health needs change.
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Does New York State Allow Excess Charges?
New York is one of the few states that does not allow Medicare Part B excess charges. Regardless of which carrier you decide to go with, the letter plan benefits will be the same. New York residents need not worry if a Medigap plan does not cover excess charges because they will not apply when they receive care in their state.
Does New York Offer Medigap Plans for Those Under 65?
Not all states require insurance companies to provide Medicare Supplement plans to those on disability under age 65. However, in New York, if you are under 65 and on Medicare due to a qualifying disability, you have access to Medicare Supplement plans.
However, keep in mind that your costs can be much higher than those over 65. Carriers tend to hike up premium prices for those under 65 due to their disability liability. Unfortunately, although benefits are standardized, premium prices are not.
Because of the price increase, many of those on Medicare due to disability opt for a Medicare Advantage plan until they turn 65 and can switch to Medigap for more extensive health coverage.
Additional Medicare Coverage Options in New York
Besides Medigap plans, Medicare beneficiaries in New York have several options for additional coverage. If you are looking for an all-in-one plan, Medicare Part C (Medicare Advantage) may be right for you. On the other hand, you will want to shop for Medicare Part D plans for stand-alone prescription drug coverage.
Medicare Advantage plans help with additional benefits that Original Medicare does not cover. This coverage can include dental, vision, hearing, and prescription drug benefits – or even gym memberships.
Be aware, however, that you cannot have a Medicare Advantage plan at the same time you have Medigap coverage. Yet, you can buy ancillary plans for dental, vision, and hearing benefits to pair with your Original Medicare and Medigap. If you are interested in wellness programs and gym benefits, some Medicare Supplement plans include these as well.
Medicare Part D plans offer prescription drug coverage to seniors. Medicare Supplement plans do not include prescription drug coverage. However, unlike Medicare Advantage plans, you can pair Medicare Part D coverage with your Original Medicare and Medigap.
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How to Apply for a Medigap Plan in New York
Medigap plans in NY can help you cover the unexpected costs Original Medicare leaves. Medicare Supplement monthly premiums depend on the carrier. Thus, it is essential to select the company in your area offering the lowest rates for the most coverage.
At MedicareFAQ, it is our job to help you find the best supplemental insurance for you. Call us at the number above or fill out an online rate form today to learn about rates for Medigap plans in New York!
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Sources:
MedicareFAQ is dedicated to providing you with authentic and trustworthy Medicare information. We have strict sourcing guidelines and work diligently to serve our readers with accurate and up-to-date content.
- Health Insurance Assistance Medicare, NYC.gov. Accessed April 2022.
https://www1.nyc.gov/site/dfta/services/health-insurance-assistance.page - Supplement plans, NY Department Family Services. Accessed April 2022.
https://www.dfs.ny.gov/consumers/health_insurance/supplement_plans_rates
1-I live in New York, can I switch at a later date, from managed Medicare to traditional Medicare (with a supplement plan) without paying more than if I signed up initially with traditional Medicare plus supplement?
2-Is medical underwriting going to be in effect eventually in NY?
3-Will people be grandfathered in and not be subjected to medical underwriting increases if it goes into effect at a later date when I may want to switch to traditional Medicare plan plus supplement?
Susan, thank you for reaching out! We are glad to help with all of your Medicare questions.
1. You can switch during a Medicare Advantage enrollment period to a Medigap plan. This will come at a higher cost than if you initially enrolled in Original Medicare and a supplement as the costs for new enrollees are constantly changing.
2. At this time, there is no legislation in place for Medical Underwriting in New York.
3. There is no way to answer this question unless legislation were to be passed that implemented medical underwriting in New York State. Again, there is no news of this happening.