Medicare Plans in New Hampshire in 2022
Signing up for Medicare can be confusing, especially when taking into account all of the variables that can impact your enrollment. Plan availability depends on so many factors, one of the most important being where you live.
Being aware of your state-specific Medicare rights can help you to find the best plan options possible. That’s why it’s so important to have a good understanding of the nuances of Medicare in your state. Read on to learn more about your Medigap, Medicare Advantage, and Part D options in New Hampshire.
How To Apply for Medicare in New Hampshire
If you are a New Hampshire resident who is only interested in enrolling in Original Medicare, you can do so through your local Social Security office. You can sign up in-person, online, or over the phone as early as three months before your 65th birthday.
However, if you want to enroll in a Medicare Advantage plan, Medicare Supplement Insurance, or Part D drug coverage, we recommend contacting a licensed insurance agent. They can walk you through the process and help you to find the right plan for you.
Reach out to an experienced insurance agent here at Medicare Plans Direct today to have all of your Medicare-related questions answered.
Medicare Supplement Plans in New Hampshire
Which Medigap plans are available to you in New Hampshire will depend on a number of factors, such as which insurance company you enroll with and where you reside.
There were 98,823 New Hampshire residents enrolled in Medicare Supplement Insurance in 2019. This figure represented a third of all Medicare enrollees in the state that year.
The most popular Medigap plans in New Hampshire include Plans F and N. These plans offer some of the most comprehensive coverage around.
However, beneficiaries who first became eligible for Medicare on or after January 1, 2020 will no longer be allowed to enroll in Plan F. Plans G and N are good alternatives.
Medigap Enrollment in New Hampshire
If you are interested in enrolling in Medigap insurance in New Hampshire, the best time to do so is during your Medigap Open Enrollment Period (OEP).
This occurs when you first become eligible for Medicare and enroll in Part B, and it lasts for 6 months. During this time, you can enroll in any Medigap plan offered in your area regardless of your health history.
Unless you qualify for a guaranteed issue right, you may have to undergo medical underwriting if you want to sign up for a Medigap plan after your OEP finalizes. In this case, insurance companies reserve the right to deny you coverage and/or charge you higher rates.
The state of New Hampshire does not authorize any special guaranteed issue rights aside from the minimal federal standards. Some examples of guaranteed issue rights include moving out of your Medicare Advantage plan’s coverage area or losing your employer coverage.
Some good news is that when you first enroll in a Medigap plan in New Hampshire, you have a 30 day “free-look” period that allows you to return your policy and get a full refund.
You should also be aware that Medigap insurers in New Hampshire can implement pre-existing condition waiting periods. This means that your insurance company can delay coverage for your condition for up to six months when you first enroll in your Medigap plan. Having some form of creditable coverage prior to your Medigap enrollment can reduce the duration of these waiting periods.
Medigap in New Hampshire for Disability Enrollees
As of 2019, 16% of New Hampshire’s Medicare enrollees were under the age of 65 (the national average is only 14%). New Hampshire beneficiaries who qualify for Medicare because of a disability are guaranteed the right to enroll in any Medicare Supplement plan they would like. While not mandated under federal Medigap regulations, many states choose to offer these individuals Medigap protections, the state of New Hampshire included.
New Hampshire was one of the first states to implement Medigap protections for enrollees under the age of 65, and they started offering this protection in the late 1990s. However, insurance companies are permitted to charge these individuals higher rates than they would charge enrollees aged 65 and older.
People who qualify for Medicare before they turn 65 can sign up for Medigap insurance during the first six months that they are enrolled in Medicare Part B. These individuals will have another OEP during the six months following their 65th birthday. When this happens, they are allowed to sign up for any Medigap plan offered in their area without having to undergo medical underwriting.
Medigap Premiums in New Hampshire
In 2021, there were 18 companies that offer Medicare Supplement Insurance in New Hampshire. State law allows Medigap providers to decide how they set monthly premiums, and there are three ways that they can do so.
With attained-age rated policies, your monthly premium will likely increase as you get older, which is important to consider when choosing a Medigap plan.
Some companies may offer issue-age rated plans. In this case, premiums are determined by the age you were when you enrolled in the policy.
Finally, the least common type of premium rating is no age, or community rated. These plans’ rates aren’t based on the age of beneficiaries, so prices are typically the same for everyone in your area.
Though Medigap plans’ benefits are federally standardized, premium rates can vary significantly between insurance companies. For that reason, we always recommend consulting with a knowledgeable insurance agent before deciding on a Medicare Supplement policy to ensure that you are getting the best value plan for you.
Medicare Advantage Plans in New Hampshire
Another coverage option for people looking for more benefits than those offered by Original Medicare is Medicare Advantage. Also known as Medicare Part C, these plans provide the coverage that you get under Original Medicare on top of additional benefits, which can include drug coverage, hearing coverage, vision coverage, dental coverage, and more.
Almost a quarter (24.9%) of New Hampshire Medicare beneficiaries were enrolled in a Medicare Advantage plan in 2021. In 2022, there are 44 Medicare Advantage plans available in New Hampshire, and all Medicare beneficiaries in the state have access to at least one Medicare Advantage plan.
However, which Medicare Advantage plans you have available to you depends on where exactly you reside, as plan availability varies from county to county. For example, New Hampshire Medicare enrollees who live in Hillsborough County have access to 40 Medicare Advantage plans in 2022, while residents of Cheshire and Sullivan have 29 plan options.
When it comes to monthly premiums, what you pay for your Medicare Advantage plan depends on where you live, the plan that you choose, and more. In 2022, the average Part C monthly premium in New Hampshire is $21.012. Plus, 100% of the state’s Medicare enrollees have access to at least one plan with a $0 monthly premium.
Deciding which is the right Medicare Advantage plan for you is best done with the help of an experienced insurance agent. Here at Medicare Plans Direct we help you make the best Medicare choices possible at no extra cost to you. Reach out today to receive free advice about Medicare Advantage in New Hampshire.
Medicare Part D in New Hampshire
Another thing for New Hampshire beneficiaries to keep in mind is their Medicare Part D prescription drug plan options. In 2022, there are 21 stand-alone drug plans available to New Hampshire Medicare enrollees.
How much you will have to pay for your Part D premium depends on where you live and which insurance company you purchase your plan through. In 2022, the average Part D premium in New Hampshire is $45.59.
You can also find drug plans with $0 deductibles, though insurance companies usually charge higher monthly premiums for these plans. In 2022, there are four no-deductible plans available to New Hampshire residents, and the lowest-cost stand-alone drug plan with a $0 deductible has a monthly premium of $59.80.
It is typically a good idea to enroll in prescription drug coverage when you are first eligible if you foresee it being necessary in the future. If you don’t sign up for Medicare Part D when you first qualify and don’t have some other form of creditable drug coverage, you could face late enrollment penalty fees down the line.
Some Medicare Advantage plans include prescription drug coverage, but if you are enrolled in Original Medicare and/or a Medigap policy, you will need a stand-alone Medicare Part D drug plan to cover the costs of your prescription drugs.
As you can see, it is important to understand the ins and outs of Medicare coverage when choosing a plan. Here at Medicare Plans Direct, we help seniors through the process of enrolling in Medicare. Reach out today to speak with a licensed insurance agent, free of charge.