Medicare has very distinct gaps in coverage. . The government program provides plenty of health care coverage, but leaves a lot to be desired, which could end up costing some Medicare enrollees thousands of dollars in medical bills. To help seniors with limiting their exposure to high medical bills, ten different Medicare supplement plans were created. These plans vary greatly in the amount of coverage but there are four that are by far the most popular. If you came looking to get a set of New York Medicare supplement quotes you can fill out the form on this page, or keep reading as we look at the four most popular Medicare supplement plans.
We know that finding the prefect Medigap plan can be a long and difficult process, but it doesn’t have to be. Our agents can help make sure that you’re getting the best supplemental coverage for your health care needs. We can help you decide which plan is going to meet your needs the best as well as help you find a plan that will keep more money in your pockets every month.
What is the MOST Popular Of The Medicare Supplement Plans?
When it comes to Medicare supplement plans, New York has one clear winner in popularity; Plan F. Plan F is the most comprehensive supplemental insurance because it fills all the gaps left by traditional Medicare. This means with Plan F you will pay your monthly premiums for Part B, Part D, and Plan F and nothing more. This convenience and security has made New York Medigap plan F the hands down favorite for NY residents. See our comprehensive write up of Medicare supplement plan F.
But, Plan F isn’t for everyone. Yes, Plan F covers every single expense that is left behind by original Medicare, but it comes at a price. The premiums for the all-inclusive plan can be a little too expensive for some enrollees. It’s important that you get the additional coverage that you want, without paying for coverage that you can’t afford or don’t need.
Are There Comparable Medicare Supplement Plans in NY?
There really are not comparable plans because every other plan has some sort of gap that it does not cover. What you need to realize is that the gaps that are left by some plans are not that big of a deal and if you can get a premium that is lower than plan F then you may end up ahead even in a worst case scenario. The next three most popular plans are:
Medigap Plan G – Plan G only has one gap in coverage and that is it does not pay for the Medicare Part B deductible of $147. This means if you get a premium that amounts to at least $148 in savings over plan F then you can get a deal.
Medicare Supplement Plan C – Plan C, like G, only has one gap in coverage. That gap is that it does not cover any Part B charges that are above the Medicare approved amount. So if your doctor only charges the Medicare approved amount then this might be a great deal for you.
Medicare supplement Plan N – Plan N does not cover either the Part B deductible or excess charges. You also have to pay a co-pay of $20 for some doctor’s visits and $50 for emergency room visits that do not result in being admitted to the hospital.
Deciding Which Plan Works Best
There are several different plans that you can choose from. We listed a few of the popular options above, but those aren’t the only options. With ten different Medigap plans to choose from, it can be difficult to narrow down which one will fit your needs perfectly.
There are several different factors that you have to consider when picking a plan. Spend some time considering your health, looking at your budget, and seeing what different options are available to you. You can’t know what’s going to happen in the coming years, but looking at your health will have a huge impact on which plan in end up picking.
If you have several health problems already and a family history of health complications, it would be a wise investment to choose a plan that covers the majority of the gaps in Medicare. That doesn’t necessarily mean that you have to purchase Plan F, but you should consider a more inclusive plan. If you have an excellent bill of health and a family history with few blemishes, you might go with a small policy that leaves more holes and saves money every month in premiums.
Finances are the other major factor that you have to consider when picking your plan. More than likely, you’ll be living on a fixed income when you enroll in a Medigap policy, which means that money is going to be a vital part of deciding which policy works best for you. Can you realistically afford an all-inclusive Plan F? Or would that stretch your budget a little too thin? Sit down and see how much your budget allows you to spend on additional insurance.
There are so many different things that you have to consider and different options that you can choose from, it can be very confusing and frustrating. Our agent can help you find the best plan to fit your needs.
If you are looking to get help with picking one of the plans or have any questions about the different NY Medicare supplement plans then fill out the form on this page or call the above number and we will be happy to answer any questions you may have. There are dozens of different companies that could sell you a Medicare supplemental insurance plan, which means that you could spend hours on the phone talking to different agencies. Instead of wasting your time, let us do all the work for you. We can give you the lowest rates from the highest rated insurance companies in your area. Because we don’t work with any specific company, we won’t try and sell you below average coverage or sell you additional policies that you don’t need.
These Medigap plans are standardized by the government, which means that regardless of which company that you purchase the policy through, they are going to provide the same coverage. The only difference between companies is how much they are going to charge for the additional coverage. If you want to save money, you’ll need to compare the rates of dozens of insurance companies.
Instead of wasting your time on the phone, let our independent insurance agents do all of the work for you. Because we work with so many highly rated companies, we can bring all of the lowest Medigap rates directly to you.
Not only can our agents bring you all of the best premium rates, but they can also any coverage questions about any of the plans. There are dozens of different factors that you’ll need to account for, and we can walk you through the process.
Applying For A Medigap Plan
There are only two simple requirements that you have to meet in order to be eligible for a Medigap policy. You have to be at least 65 (some states have exceptions to these rule) and you have to be enrolled in Medicare Part B. As long as you meet both of these, you’ll be able to apply for a supplemental insurance plan.
While you can apply at any point was you enroll in Part B, it’s important to take advantage of your Medigap Open Enrollment period. Which is a six-month window that surrounds the month that you turn 65. During this open enrollment date, the insurance company can’t reject your application because of your health or any pre-existing conditions that you have.
Additionally, the insurance company isn’t allowed to charge you more for the supplemental coverage because of your health. You’ll receive their premium rates, even if you have several health complications. Enrolling during this window could save you thousands of dollars on your Medigap plan. For some applicants, this could be the only chance that you have to get supplemental insurance protection for your health care.