New York (State) & Medicare

New York is a very highly-regulated state when it comes to insurance. Many policies don’t exist in NY State, as they do in other states (non-health insurance). Note: there are other states with special “carve-outs” to provide extra enrollment rights, more examples will be forthcoming.

For Medicare, the following.

a. Part B Excess charge is disallowed. That means: Medigap Plan F & G do not have the value that I normally assign it. Paid subscribers know this: my informed opinion is that people who suggest Plan N as the best value do not fully understand the inherent probability or volatility functions that exist within Medicare. I am not apologizing for the fact that other YouTube people claim that Plan N is superior. If this is my hill to die on, so be it.

Back to the point. since NY doesn’t allow the Part B Excess, then there is no reason to pay for that coverage, which will be expensive. That is true in most cases.

b. NY has year-round Medigap Open Enrollment. So, let’s say I am completely wrong (I’m not), and you have Plan F and change to Plan N (which is fine in NY because of point a). In that instance, you can literally send an email here and we can arrange to switch you back, to any Medigap plan at any carrier in NY, effective the 1st of the following month.

c. Points a&b will have very powerful implications for those people in excellent health and that want to aggressively save money. You can certainly save on 3 months of Medigap premium by enrolling in Medicare Advantage (with Rx coverage), for the first three months, use the federal Medicare Advantage Enrollment Period (which lasts from Jan through March), and revert back to Medigap and Part D, without questions.

d. This also means that you can use point b to switch to a Medigap plan of your choosing if you decide to move out of NY State.

These points are very specific to the Empire State. DO NOT ATTEMPT TO USE THESE SUBPOINTS IN OTHER STATES, and the idea that you would do any of this unassisted? Nope.