Medicare Supplemental Ins.
Things you should know about Medicare Supplemental or Medigap health plans in New York
- Medicare supplemental insurance, also known as Medigap, fourteen different plans in New York State.
- Medigap is designed to cover some of the out-of-pocket expenses not covered by the Original Medicare Plan, such as co-payments and deductibles.
- Medigap policies are labeled as Plans A through L, and include two high-deductible options.
- Medicare supplemental insurance policies are sold through private insurance companies in New York such as AARP.
- Medigap plans are regulated by New York state and federal law, but insurers retain various freedoms, including the right to price their Medigap policies as they choose, and the right to offer only 1 Medigap Plan or the option to offer all fourteen Medigap plans (A-N)
- Because monthly premiums and the availability of policies vary widely between companies, it’s important to shop around for the most suitable policies for you and your spouse
- New York state regulation mandates a continuous open enrollment period for senior residents.
- This open enrollment period requires any insurer offering Medigap insurance to accept your application for coverage. In addition, they MAY NOT use medical underwriting such as your current health status, medical history, or claims experience to determine your eligibility for Medigap or for calculating your monthly premium.
- To be eligible for a Medigap policy in New York, you must be a senior resident aged 65 or better, and already enrolled in Medicare Parts A and B.
- You may also be eligible if you are under age 65 but have certain disabilities, or if you have end-stage renal disease, and you’re enrolled in Medicare Parts A and B.
- A Medicare Supplemental Plan is also a good idea if you prefer to keep your own doctor and hospital and choose your own specialist and other health care providers.
Monthly premiums vary between companies so it’s important to shop around and at the New York City Business Group we will do the leg work so you don’t have to and best of all our services are Free of charge, that’s right we will never charge you a commission! And we will provide you with top shelf service as long as you are enrolled even if you change plans all FREE of CHARGE!