Every Medigap plan of the same letter offers identical coverage — the only real difference is price.
With continually rising health care costs, purchasing a Medigap insurance policy is an important personal decision that requires careful consideration. Every policy of the same type offers the same coverage, regardless of which insurance company you choose — so it's worth shopping around to make sure you don't end up paying too much.
The monthly premium isn't the only factor to keep in mind, either. Some companies are notorious for rate hikes, and you may find yourself in an uncomfortable position later on down the road. Working with a knowledgeable Medicare supplement insurance broker gives you the peace of mind that comes from knowing you're making an informed decision.
Just because something is popular doesn't mean it's the best fit — and the Centers for Medicare & Medicaid Services (CMS) actually prohibits brokers from using superlatives like "best" to describe insurance policies, so we won't try to answer that question for you directly.
While you might ask other seniors for their opinions, it's not always the best course of action to follow what other people are doing, since you don't know everything about their circumstances. It's more useful to consult with an insurance broker, who's obligated to give you an objective point of view.
Give us a call at (718) 554-3425, and we'll be able to tell you:
Again, all NYS Medicare supplement plans of the same letter (A–N) are identical from one carrier to the next. So, for the most part, the decision comes down to the current price of a particular plan and how the monthly premium might change over time. We can help you settle on a policy and make sure you don't overpay for Medigap insurance in NYC.
We don't recommend buying insurance directly from the insurance company. Their job is to enroll you in the most expensive plan their company offers, regardless of whether a competitor has a plan that meets your needs for less money. After a sales rep enrolls you, you're typically passed off to a member services department, and you never speak to that agent again.
We don't recommend buying Medigap insurance through the mail, either. As tempting as some offers may seem, there's usually a reason they're so cheap — these insurers use low introductory prices to get your business and later raise rates.
Companies that call you out of the blue are no better. They tend to use high-pressure sales tactics to rush you into a decision. As a New Yorker, you have plenty of time to make this decision and don't need to be pressured into acting before an enrollment deadline.
We won't call you without your permission, but we welcome you to call us at (718) 554-3425, or reach out by email. As insurance brokers, we work for you, not the insurance companies. We serve seniors throughout New York State as well as New Jersey.
Medicare supplemental insurance, also known as Medigap, is a type of health insurance designed to cover certain expenses that aren't covered by Original Medicare. In New York State, Medigap plans are sold through private insurance companies. In addition to limiting your out-of-pocket expenses, NYS Medicare supplement plans let you keep your doctor and hospital and choose your own specialists and other providers — unlike Medicare Advantage, which requires you to use in-network doctors.
Medigap plans are designated by letters A through N. Plan A is the core package, while Plans B, C, D, F, G, M, and N each differ in benefits but include everything in Plan A. Plans K and L offer catastrophic coverage only, and Plans E, H, I, and J are no longer available to new enrollees.
Before going on Medicare, many people have a health plan with a coinsurance — usually a percentage of the service fee after the deductible — and an annual out-of-pocket maximum. With Medicare, there is no out-of-pocket maximum. Original Medicare covers only 80% of your health care costs, so the remaining 20% can add up over time. A Medicare supplemental policy covers those out-of-pocket costs, such as copayments and deductibles, that Medicare doesn't.
Most states have a six-month open enrollment period, but as a New York resident, you can take advantage of the state's continuous open enrollment. You're also entitled to obtain a Medigap policy without medical underwriting — insurance companies cannot ask about your health status, medical history, or claims experience to determine eligibility or set your premium. This is why New York is known as a guaranteed-issue state for Medicare supplemental insurance.
New York is also a community-rated state, meaning Medigap premiums are the same for everyone regardless of age or health status. Premiums do vary by where you live (Manhattan, Brooklyn, Queens, the Bronx, or Staten Island), so your broker will ask for your ZIP code before showing you available plans. The main eligibility requirements are that you're already covered by Medicare Parts A and B and live in the service area — it may be possible to get Medigap under 65 if you have certain disabilities, such as end-stage renal disease.
Premiums also vary among insurance providers, and not every company offers every plan. We can quickly identify the most cost-effective Medicare supplement option for you based on your location, coverage needs, and long-term financial picture.
Our process starts by comparing Medicare Advantage (Part C) and Medigap (Medicare Supplement), then checking whether your doctors participate with the plan you're considering — you can't have Medicare Advantage and Medigap at the same time, so this comparison is a crucial first step.
You could spend an afternoon researching Medigap comparisons through the New York State Department of Financial Services, but we maintain our own library of Medigap and Medicare Advantage data compiled over many years, and we'll walk through it with you in person or over the phone. We also check your prescriptions against each plan's formulary, review monthly costs, and put together a doctor-and-Rx comparison before completing any enrollment paperwork.
After you enroll, we stay available — whether that's three weeks or three years later. If a doctor you need to see doesn't participate with your current plan, we'll help you find one that does and guide you through a special enrollment period if needed. If a prescription is expensive, we can check whether it's cheaper under a different Part D formulary, or whether you qualify for programs like Elderly Pharmaceutical Insurance Coverage (EPIC) or the federal Low Income Subsidy (LIS).
Nationwide, the most popular Medigap policy has historically been Plan F — not necessarily because it's the most comprehensive, but in part because it has offered brokers higher commissions than plans that might be more appropriate for a given client. In New York State, Plan F's popularity hasn't tracked the rest of the country, largely because NYS premiums run higher due to the state's guaranteed-issue policy for all senior residents.
Plan F closed to new enrollees on January 1, 2020. If you already had Plan F before that date, you were able to keep it — but as time goes on, that closed group tends to shrink as members pass away or switch plans, which puts upward pressure on rates for those who remain, since fewer premium dollars are supporting the same claims pool. A similar pattern played out when Plan J was taken off the market in 2010.
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