Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
What will Medigap in NY State likely cost me?
Old 09-13-2016, 06:40 AM   #1
Full time employment: Posting here.
 
Join Date: Dec 2015
Posts: 945
What will Medigap in NY State likely cost me?

I'm still a couple of years away from 65, but for the purpose of budgeting, I am trying to figure out what a Medigap policy in NY State will likely cost me.

I have tried to find out online, and all of the "free quotes" offers include me giving my phone # and agreeing to be bombarded with telemarketers.

So, anyone out there care to tell me what they think my Medigap insurance will set me back, in NY State? I'd appreciate it.
__________________

__________________
HadEnuff is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 09-13-2016, 06:49 AM   #2
Moderator
MichaelB's Avatar
 
Join Date: Jan 2008
Location: Second City Land
Posts: 23,710
I use this Medicare tool to see who offers policies in my zip code and get a general idea about the cost https://www.medicare.gov/find-a-plan/questions/home.aspx
Then I visit the insurers website and get online quotes for the specific policy I'm interested in by using a birthdate that shows me turning 65 in two months. The major MediGap insurers - BCBS, UHC, Aetna, etc., all give online quotes.

I do the same for Medicare D.
__________________

__________________
MichaelB is offline   Reply With Quote
Old 09-13-2016, 07:18 AM   #3
Full time employment: Posting here.
 
Join Date: Dec 2015
Posts: 945
Quote:
Originally Posted by MichaelB View Post
I use this Medicare tool to see who offers policies in my zip code and get a general idea about the cost https://www.medicare.gov/find-a-plan/questions/home.aspx
Then I visit the insurers website and get online quotes for the specific policy I'm interested in by using a birthdate that shows me turning 65 in two months. The major MediGap insurers - BCBS, UHC, Aetna, etc., all give online quotes.

I do the same for Medicare D.
I have visited this page before and I'm confused at the range of prices on the premiums. For example, the Policy F Monthly Premium is listed as "$193-$568"

the Policy F-High Deductible is "$51- $167"
and Policy G is "$239-455"

Can you explain why the huge ranges, and how would I find out where in that huge range I would fit?
__________________
HadEnuff is offline   Reply With Quote
Old 09-13-2016, 07:49 AM   #4
Moderator
MichaelB's Avatar
 
Join Date: Jan 2008
Location: Second City Land
Posts: 23,710
Quote:
Originally Posted by HadEnuff View Post
I have visited this page before and I'm confused at the range of prices on the premiums. For example, the Policy F Monthly Premium is listed as "$193-$568"

the Policy F-High Deductible is "$51- $167"
and Policy G is "$239-455"

Can you explain why the huge ranges, and how would I find out where in that huge range I would fit?
Confusion is understandable - too many options.

MediGap policies are regulated, so you know that each "C" policy offers the same coverage. However, insurers can price them differently. There are 3 different pricing methodologies: community rated, issue-age rated, and issue-attained rated. More detail here https://www.medicare.gov/find-a-plan...-policies.aspx
but basically, "attained-age rated" are premiums that are lower now and increase as you get older, while "community rated" are higher now because they are the same for everyone and won't increase due to age, but will only have inflation type increases. It's difficult to compare the two, because you can't just jump from one to another - the only time you have guaranteed access is on your 65th b'day.

When looking at my zip code and only for two policies (C and F) I found far fewer options, many of the insurers on the list didn't offer the plan at all. Some insurers I don't even recognize and am not motivated to investigate further. In my case, looking over MediGap for the past year for enrollment later this year (for DW), we really have only a few options - less than a half dozen.

Most people here that have gone through this started by choosing the level of coverage they want. MediGap C, F and high-deductible F have been mentioned frequently. Some concern about F, especially future price increases, as it is being phased out.
__________________
MichaelB is offline   Reply With Quote
Old 09-13-2016, 07:58 AM   #5
Full time employment: Posting here.
 
Join Date: Jan 2014
Posts: 630
NY Medigap plans and rates can be found here: Information for Medicare Beneficiaries

NY is community rated, meaning all ages pay the premium you see in the link. NY is also year round guaranteed issue so if another insurer offers a better rate next year you can switch with no medical underwritng.

Don't forget to add the cost of a separate Part D drug plan.

BTW, you asked a similar question two months ago and were given a similar response in this thread: Medigap Primer (HELP, I need somebody, Help..)
__________________
MBSC is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
How Often Can a Medigap Policy Raise Rates? MayGray Health and Early Retirement 1 12-05-2009 11:34 AM
Medigap or Medicare Advantage Plan? modhatter Life after FIRE 1 04-30-2006 06:54 PM
Medicare+Medigap vs. Medicare Advantage haha FIRE and Money 2 02-01-2006 08:16 PM
Medicare/medigap cute fuzzy bunny FIRE and Money 15 07-14-2004 09:59 AM

 

 
All times are GMT -6. The time now is 01:18 AM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.