NY Medicare enrollment quick facts
- 482,719 New York residents had a Medigap policy, according to data from America’s Health Insurance Plans (AHIP).1
- Plan F is the most popular Medigap policy in New York, with 233,255 enrollees, according to AHIP.
Medicare Supplement insurance (also called Medigap) helps senior and disabled New York residents pay for certain Medicare co-payments, deductibles, and other costs. Currently, insurance companies can offer state residents one of the 10 standardized Medigap plan options: Plans A, B, C, D, F, G, K, L, M, and N.
The chart below shows the most popular Medicare Supplement plans in New York.1
|Popularity ranking||Plan||Total enrollees in 2015|
Medicare Supplement Insurance plan pricing methods
Medigap pricing methods are important because they dictate how your premiums may increase in future years. There are three different pricing methods:
- Attained-age rated: The premium increases as you age.
- Issue-age rated: The premium is based on your age when you buy and it may increase due to inflation and other factors, but not due to your age.
- Community rated: The same premium is charged to all Medigap policyholders.
Under-65 enrollment rules
Although Medicare Supplement insurance is primarily for senior citizens, it also covers disabled people and those with end-stage renal disease (ESRD). Each state’s insurance department dictates the rules governing Medicare beneficiaries under the age of 65.
In New York, insurance companies that sell Medigap must make all of their plans available to those under 65 and premiums do not vary based on age.
And unlike most states, New York has continuous Medigap open enrollment throughout the year for Medicare enrollees.
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