What Medigap plans does HIP offer in New York?
HIP Health Plan of New York (HIP by EmblemHealth) offers 4 different Medicare Supplement Plans in New York. Each lettered plan pays Medicare benefits differently (see Comparison Chart or check out our Review). Here they are at a glance:
Community Rated Medigap Plans: When a plan is "Community Rated" the community will all be charged the same monthly premium if enrolled in the same plan. As an example, if you enroll at age 65 or 72 you would be charged the same amount. Premiums will increase, but your age will not be a factor.
HIP Medicare Supplement Benefits Comparison Chart
The table below outlines the coverage of each HIP Medicare Supplement:
REVIEW: HIP Medicare Supplements in New York
HIP scored 3.5 out of 5.0 based on our scoring method. HIP has a good Plan F premium (top 10), and they have only serviced Medicare Supplements for 5 years, and their A.M. Best financial rating is substandard or unknown. As a result, this is not a Medigap carrier that we recommend for New York seniors. See the top 10 competition.
Here are the pros and cons from our analysis:
- Highly competitive Plan F premium.
- No charge for writing the policy.
- Marginal financial strength.
- Fewer than 5 years in the Medicare Supplements business.
- Does not offer Medicare SELECT plans.
- Does not offer the 5 most popular plans.
About This Review
We reviewed HIP's Medigap plan offering in New York versus all other carriers in the state. Our review is unbiased. We use a formula that looks at years in business, A.M. Best financial strength rating, plans serviced, plan premiums and fees. We do not take into account rate increase history. Our goal is to present information accurately and without bias, based on our interpretation of factual information about each carrier.