There are some benefits in becoming a senior. This is a time when many people get to retire and reap some of the rewards of their labor during their working years. One such benefit is Medicare coverage. Throughout a person’s working career, Social Security and Medicare taxes are deducted from their earned income.

These deductions are necessary to provide them with Social Security payments and Medicare medical coverage during their senior years. At age 65, a senior is entitled to Medicare benefits if they've paid into the system. Sadly, even though you paid into the system throughout your lifetime, Medicare benefits only cover 80% of your medical bills. So, you're still left with many out of pocket costs that can quickly add up. But don't worry, you have options! This is where New York State Medicare Supplemental insurance plans can help.

New York Medicare Supplement Plans

Medicare is medical coverage that pays for the bulk of the insured’s healthcare costs, but Medicare doesn't pay every penny. The insured is still responsible for a considerable portion of their medical expenses and costs. The gap between what Medicare will cover and what the insured is responsible for is known as a gap or hole in Medicare benefits.

Private insurance companies developed insurance coverage that will address this hole in medical coverage, this coverage is known as New York Medicare Supplement plans. These policies are available to all who are Medicare eligible. This coverage helps to supplement Medicare for the insured. Generally, there's costs that must be paid before Medicare insurance will kick in at a doctor’s appointment.

NY Medicare Supplement plans can cover some of the co-payments required by the doctor office before providing any medical services. When a person must stay in the hospital, there may be coinsurance and deductibles that are required before Medicare will pay their share of the medical bills.

How do I Know if I'm Eligible NY Medicare Supplemental Insurance

NY Medicare Supplemental insurance is available to those who are age 65, or older, who have both Medicare Part A and B insurance. If the person enrolls during Medicare Open Enrollment, they don't have to worry about health restrictions imposed by the private insurance company.

There's many individuals who are also eligible for Medicare Parts A and B insurance because they receive Social Security disability benefits; however, the law does not always require private insurance companies to offer Medigap, or Medicare Supplements, to those under 65. With that said, residents in the state of New York who receive benefits due to a disability will be happy to know that all ten plans are available. Unlike most states, New York Medicare Supplement rates for those on disability are the same as those who attained the age of 65.

How Much Will I Pay

There's no one answer to this question, many private insurance providers offer a wide variety of supplement policies. Those who want supplemental coverage have many options to consider. It can be a daunting experience to look at all the private insurance supplement plans for Medicare beneficiaries, but you want to choose the plan that will fit your specific insurance needs. The government has created policies and guidelines to keep insurance companies from taking advantage of Medicare recipients or beneficiaries. Every company that offers these policies must adhere to a set guideline.

Basic Level of Coverage

Coverage cannot fall below a certain level of basic services. It's mandatory that coverage provides certain necessary benefits to every person that has a supplement policy. Each private insurance company that's licensed to provide this coverage produces literature and information about all of the plans created to address the gap in coverage for seniors.

Compare Cost for Medicare Supplemental Insurance

Understanding this plethora of information can be difficult. Professionals that specialize in New York Medicare Supplement insurance are able to help you comprehend and pick the right plan for your personal situation. Take the next step in your healthcare and medical needs. Pick up the phone and call the number on our site today, or fill out our online rate form to compare cost for Medicare Supplemental insurance online. You'll find a professional on the other end of the line that can help you make one of the most important decisions involving your health. The best part is that these services are offered at no cost to you, and you don't have to buy anything at all.

Author's Bio: 

As a healthcare specialist for New York Medicare, Lindsay strives to stay on top of current senior healthcare news. By providing updated health information to our senior community, she hopes to make a healthy impact on their lives as they age. You can follow Lindsay on Facebook & Twitter.