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What Are the Medicare Advantage Plans in New York?
If you’re a resident of New York and you’re about to turn age 65, you’ve probably begun contemplating an exploration into Medicare, reasonably hoping it will not be a time-consuming and confusing endeavor. Understandably, a government program like Medicare is not easy to navigate. There’s a reason why they call it the Medicare maze. That’s why SelectQuote is here to help with healthcare options for buying a Medicare Advantage plan.
Quicker than a New York minute, we’ll help break it all down. Medicare Part A covers medical insurance and Medicare Part B covers doctor’s office insurance. Medicare Part C is also known as Medicare Advantage (MA). MA plans are available from private insurance companies, offer at least the same level of coverage as Medicare Parts A and B, are approved by Medicare and replace Medicare Part A and Medicare Part B coverage.
Many New Yorkers select a Medicare Advantage plan because of the additional benefits that may be included. New York residents desiring coverage for dental, hearing and vision as well as other routine medical services may want to consider a Medicare Advantage plan in New York as these benefits may also be included.
Am I Eligible for a Medicare Advantage Plan in New York?
There are two basic criteria used for determining eligibility for a Part C plan. The first is if you’re already eligible for Medicare Parts A and B. The second is if you live in a county or zip code where Medicare Advantage plans are sold. If you meet these two criteria, you are eligible for Medicare Advantage. Understanding medical needs can increase with age, a Medicare Advantage plan specific to New York residents may potentially save you money because many Medicare Advantage plans have $0 monthly premiums. Copayments, coinsurance and deductibles vary depending on the Medicare plan in which you enroll.
New York residents cannot be enrolled in a Medicare Advantage Plan and a Medicare Supplement Insurance plan at the same time. A Medicare Supplement plan helps cover some of the gaps in coverage like copayments, coinsurance and deductibles that aren’t covered by Medicare Parts A and B.
Are Prescription Drugs Covered by New York Medicare Advantage Plans?
Those living within the 12 geographic areas and 19 area codes of New York who are looking for prescription drug coverage should consider a Medicare Part C plan as most Medicare Advantage plans also include a Medicare Prescription Drug plan. A Medicare Advantage plan with prescription drug coverage is called a MAPD and they can help cover some of the costs of prescription drugs.
Most Popular Medicare Advantage Plans in New York
Finding the right Medicare Advantage plan in New York is as unique as the person the plan is there to support. As reported by the Centers for Medicare & Medicare Services (CMS.gov), among New York residents who are enrolled in Medicare Advantage, two-thirds (67.1%) choose an HMO/HMOPOS plan while one-quarter (24.7%) choose a Local PPO. Knowing how much Medicare plan coverage you need will help you determine the right Medicare Advantage plan in New York for your needs and budget.
You can become more informed about Medicare Advantage plans available in New York by contacting a SelectQuote licensed sales agent who can guide you through the Medicare maze. Acting as your advocate, our licensed sales agents help you weigh the Medicare Advantage plan options in your area, understand costs and answer questions throughout the process. SelectQuote individually shops more than 20 national insurance companies to help find a plan that meets your individual needs and budget.
When is the New York Medicare Advantage Enrollment Period?
Enrollment in a Medicare Advantage plan occurs during specified enrollment periods. Medicare enrollment in New York opens for residents prior to turning age 65 or earlier in special disability cases. The Initial Enrollment Period (IEP) runs for seven months.
IEP begins three months before turning age 65, including the birthday month, and ends 3 months after the birthday month. It is also the time allotted for enrollment in Medicare Parts A, B, C and D. For example, if you’re a New York resident with a January birthday, your IEP runs from October through April.
You may also enroll in a Medicare Advantage plan during the Medicare Annual Enrollment Period, which occurs annually each fall. Medicare’s AEP runs from October 15 through December 7 each year. The key dates for AEP are as follows:
Oct. 15 – Annual Enrollment Period Begins
Dec. 7 – Annual Enrollment Period Ends
Jan. 1 – First Date Coverage can start
During the Annual Enrollment every year, New York residents can:
- Switch from Medicare Parts A and B (Original Medicare) to a Medicare Advantage (Part C) plan
- Change from one Medicare Advantage Plan to another
- Switch from one Prescription Drug (Part D) plan to another
- Add a Prescription Drug (Part D) plan if you didn’t enroll when first eligible for Medicare
In addition to AEP, New York residents who are enrolled in a Medicare Advantage plan can make a one-time plan change during the Open Enrollment (OEP) period, which occurs each year from January 1 through March 31. There are also Medicare Special Enrollment Periods (SEP) you may be able to enroll in Medicare or make changes to your existing Medicare Advantage coverage because of certain events and life changes, such as moving or losing employer coverage.
Is a New York Medicare Advantage Plan Right for You?
If you’d like to learn more about the available Medicare Advantage plans in New York, SelectQuote can help. We can determine if you’re getting the benefits you deserve and also help you stay up to date on the changes insurance companies make to Medicare plans each year. As a trusted independent third-party company specializing in helping consumers understand their Medicare options, SelectQuote is here to help you find the right Medicare Advantage plan in New York to meet your specific needs.
To ensure you are getting all the benefits you are entitled to receive, call or complete your online form today. Let SelectQuote’s personal licensed sales agents simplify the Medicare maze by comparing rates and independently shopping insurance companies to help you find an affordable option that meets your unique needs.