New York Medicare Supplement Plans
New York State, also known as the Empire State, is home to 19.8 million residents. It is home to one of the most populous city in the US, New York City, which makes up 40% of the states population. Seniors (ages 65 and older) make up 15.4% of its state population.
New York Medicare Facts
- Approximately 3.3 million New York residents are covered under Medicare (2015, kff.org).
- There are approximately 437,000 beneficiaries enrolled in a New York Medicare Supplement Plan or “Medigap” policy. (2015, AHIP.org).
- The most popular New York Medicare Supplement Plans are Plan C, F, and N (2015, AHIP.org).
New York Medicare beneficiaries enrolled in Medicare Parts A and B have the option to purchase a New York Medicare Supplement Plan. Medigap coverage helps cover the out-of-pocket expenses Original Medicare does not cover such as copayments, coinsurance, and deductibles. Just like most states, New York has ten standardized Medicare Supplement plans. Each of these plans are labeled with a letter from A through N. The best time to enroll in a New York Medicare Supplement Plan is during the Medigap Open Enrollment Period. This period begins on the first day of the month you turn the age of 65 and enrolled in Medicare Part B. Enrolling during this period is the best time without being denied coverage for pre-existing conditions or medical underwriting.