Some Facts About Medicare Supplement Plans
Choosing a NY Medicare Supplement plan (also referred to as Medigap) can be very confusing to the average consumer. All of our facts are obtained from the Center for Medicare and Medicaid Services, from the official government website (medicare.gov), or the New York State Dept. of Insurance. We also make every effort to simplify our website to make it user friendly and easy to understand. Listed below is a brief description of a Medigap policy. A Medicare Supplement plan and a Medigap plan is exactly the same thing. These plans are commonly referred to by two different terms.
A Medigap policy is health insurance sold by private insurance companies to fill the “gaps” in Original Medicare Plan coverage. Medigap policies help pay some of the health care costs that the Original Medicare Plan doesn’t cover. If you are in the Original Medicare Plan and have a Medigap policy, then Medicare and your Medigap policy will pay both their shares of covered health care costs.
Insurance companies can only sell you a “standardized” Medigap policy. These Medigap policies must all have specific benefits so you can compare them easily.
You may be able to choose many different standardized Medicare Supplement policies (Plans A through N). Medigap policies must follow Federal and State laws. These laws protect you. A Medigap policy must be clearly identified on the cover as “Medicare Supplement Insurance.” Each plan, A through N, has a different set of basic and extra benefits.
CLICK IMAGE TO DOWNLOAD MEDIGAP GUIDE
It’s important to compare Medigap policies because costs can vary. The benefits in any Medigap Plan A through L are the same for any insurance company. Each insurance company decides which Medigap policies it wants to sell.
Generally, when you buy a Medigap policy you must have Medicare Part A and Part B. You will have to pay the monthly Medicare Part B premium. In addition, you will have to pay a premium to the Medigap insurance company.You and your spouse must each buy separate Medigap policies. Your Medigap policy won’t cover any health care costs for your spouse.
Listed Below are links to help you simplify your search. In New York State Medicare Insurance is Community Rated. This means that everyone pays the same price regardless of pre existing conditions and you may apply for a Medicare Supplement Plan at anytime throughout the year. This Makes it a little bit easier than other most other states which are community rated.
Click on a link below and you can either request a detailed pricing qoute or click on the New York State cost comparison chart to see all of the companies who offer each plan. You will also see the current monthly premium rates for each plan. For enrollment details click here to request Medicare Supplement Enrollment forms with benefit summaries.
MEDICARE SUPPLEMENT COVERAGE CHART
Pricing In Your Area Click Here
Request Enrollment Forms Click Here
NY State Cost Comparison Chart
MEDICARE SUPPLEMENT VS. MEDICARE ADVANTAGE
Do Medicare Supplement Plans Cover Prescription Drugs??
No. Medicare Supplement (Medigap) policies are designed to cover the gaps in Health coverage and do not cover prescription drugs. If you purchase a Medicare Supplement plan you will need to pyrchase a Part D prescription drug plan in addition to your suplement plan if you would like to have coverage for your prescriptions.
More Information On Medicare Supplement Plans In Your Area click here