If you live in or are moving to New York and want to know the Medicare coverage options, then you’re in good hands. This article will explain your Medicare coverage options in New York
If you are a US citizen or a legal permanent resident of at least five consecutive years, then you’ll generally qualify for Medicare by age 65. You can also qualify by disability if you’re under 65. The disabilities that can qualify you are health conditions like Lou Gehrig’s disease or end-stage renal disease. If you are already receiving retirement benefits, you will be automatically enrolled in Original Medicare at age 65. If you want to enroll manually, you can during specific periods.
What to know about Medicare Advantage plans in New York
In New York, there are other options for Medicare if you don’t want the government run Original Medicare. You can get your Medicare Part A and Part B benefits through a Medicare-approved private insurance company. These companies offer coverage through a Medicare Advantage (Medicare Part C) plan. With a Medicare Advantage plan, you will get at least the same level of coverage as Original Medicare (except hospice care). Hospice care is still covered under Medicare Part A.
You will generally get additional benefits with a Medicare Advantage plan like vision care or routine dental. There are also many Medicare Advantage plans that cover prescription drugs.
Does New York have Medicare Advantage Prescription Drug Coverage?
If you want prescription drugs, there are many Medicare Advantage plans that will cover them. They are the Medicare Advantage Prescription Drug plans. Each plan has its own formulary which is the list of covered prescription drugs. Compare Medicare Advantage Drug plans to match the prescription drugs that you need. The formulary is subject to change at any time and the plan will notify you if it does change.
You can get both your medical and prescription drug coverage with a Medicare Advantage Prescription Drug plan. Yet, you must continue to pay your Medicare Part B monthly premium with a Medicare Advantage plan. This is because you are still enrolled in Medicare with a Medicare Advantage plan. You also must pay the Medicare Advantage plan’s monthly premium as well.
If you want to sign up to a Medicare Advantage plan, there are certain times in which you can. If you sign up to a Medicare Advantage Prescription Drug plan when first available, you can avoid paying a Medicare Prescription Drug (Medicare Part D) late-enrollment penalty. So if you want prescription drugs, it’s a good idea to sign up when you’re first eligible to avoid a penalty.
How to Compare and Contrast Medicare Advantage plans in New York
There are different Medicare Advantage plan options depending on where you live in New York. Compare these plans thoroughly before enrolling to get the best one that fits your needs. Where you live determines the plan availability and costs. Monthly premiums for Medicare Advantage plans also differ from county to county. Some plans may offer free premiums, however; you may still have to pay other costs. Consider paying coinsurance, deductibles, copayments, and out-of-pocket expenses as well. Take these costs into consideration when choosing a plan.
Begin comparing Medicare Advantage options in New York to see the best plan that fits your needs in your county. Enter your zip code on this page and we’ll show you a comprehensive list of your plan options. Also, if you are using prescription medications you can narrow the search by the name of the drugs.