Medicare Supplemental Insurance- NY

The main idea behind Medicare supplement insurance was to offer extra coverage above and beyond regular Medical care parts A & B for qualified people aged 65 and above or folks on disability under the age of 65. Medicare Parts A & B are really good coverage on their own. Part A helps pay for medical services while confined in a hospital setting and covers 80% of those services after a deductible is met ($1132 in 2011). The deductible is a "per benefit period" deductible which in most cases means you'll have to meet the deductible each time you have a hospital stay. Medicare Part B helps pay for your outpatient medical services. This would include things like primary care and specialist physicians and lab work, x-rays, outpatient surgeries, emergency room visits, and most other medical services in which you don't have to spend the night in a facility. This works like Part A in that you have a deductible ($162 in 2011) and then Medicare pays 80% of most s...

If for one reason or another, you end up without access to group insurance coverage through an employer, all is not lost. You have the option to purchase an individual health policy from a private insurance company. Although individual medical insurance may be expensive, it's worth investigating the options. Coverage availability and premiums will vary from state to state. It may depend on whether or not your particular state has enacted laws that prohibit the rate modification based on your medical condition. For instance, the state of New York, health insurers that offer individual health coverage may not turn down a candidate because of poor health. Nor can they base their premiums on factors such as gender, occupation, age or health status. New York enjoys what is called community rating. Premiums are based on how many individuals in the family and in what part of the state you live. Choosing a new health plan isn't easy. There is no one plan that fits everyone. The ...