Seniors 65+: Health Coverage for 2015 and Medicare open enrollment

If you are near age 65 and in open enrollment, losing employer sponsored group coverage, shopping for better rates on your current plan, recently enrolled in Medicare Part B, or if you have been accepted into Medicare disability – we can assist you.

Medicare Supplements, sometimes called Medi-Gap insurance, have been around since the start of Medicare in 1965.  Medicare supplement plans are standardized and available in plans A, B, C, D, F, G, K, L, M and N in the state of New York.

A standardized plan simply means that two plans with the same letter will be the same coverage, no matter what company sells them. The standardization of Medicare Supplement plans makes comparison a little easier when everything else with Medicare can seem so confusing and complicated.

Everyone 65 and older is entitled to the basic Medicare coverage, but typically it only covers about 64 percent of the annual health-care costs. Added to the expense not covered by Medicare, there are deductibles, co-payments, and coinsurance to pay. 

 Both Medicare Part A and Part B were designed to help retirees with their New York health insurance. If you choose to add Medicare Part B, it is wise to add your supplements within the first 6 months. During this time the Medigap program must accept you and any preexisting conditions, known as “guaranteed issue rights”. In most cases, as long as you continue paying the premiums you cannot be cancelled. After the 6 months, if you decide you want a supplement policy, you can be turned down for pre-existing conditions such as diabetes, heart disease, or cancer.

New York Medicare Supplemental Health Insurance has a wide variety of plans and is organized alphabetically with each plan designated with a single letter. Plans are designed to help with the cost of deductibles, co-payments, and coinsurance. Some plans offer prescription, vision, or dental coverage. The different plans offer the flexibility of choosing your own doctors and hospitals that accept Medicare patients and specialists, without referrals. You have the freedom to travel and take your coverage with you anywhere in the United States.

Rates for Medicare Supplements can vary greatly between different carriers and are usually based on age, location, gender, and health.

GET HELP WITH MEDICARE AND MEDIGAP

Trying to understand all the health insurance options with Medicare, Medicare Advantage, and Medigap can leave your head spinning. Fortunately, there are people who can help.

Call our office at 716 565 1300 or visit our website for quotes: www.MintcoFinancial.com

We also review many different health insurance coverages.