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Medicare Supplement Plans in New Jersey 2021

Medicare beneficiaries concerned about out-of-pocket costs often benefit from a Medicare Supplement plan in New Jersey. These plans are designed to work with Original Medicare and can simplify health care for beneficiaries enrolled in the federal Medicare program. If you want to minimize deductibles, copayments, and coinsurance, learn more about Medicare Supplement plans in New Jersey today.

What are the top 5 Medicare Supplement plans in New Jersey?

There are five leading Medigap policies in New Jersey. Use this quick list to compare benefits and plan limits.

1. Best for Full Coverage: Medicare Plan F

  • Includes Medicare Part A deductible, Medicare Part B deductible, Part B Excess Charges, foreign travel emergency care, and Part B Excess Charges.
  • The most comprehensive coverage available
  • Eligibility is limited to beneficiaries with a Medicare Part B effective date prior to January 1, 2020.

2. Best Comprehensive Coverage: Medicare Plan G

  • Same coverage as Medicare Plan F except for the Medicare Part B deductible. The Part A deductible is covered.
  • Open to all beneficiaries regardless of Original Medicare start date.

3. Best Value: Medicare Plan N

  • Requires copays of up to $50 for emergency room visits and up to $20 for doctor office visits.
  • Doesn’t cover Part B excess charges or deductible.
  • Part A coinsurance and deductible are covered along with foreign travel emergency care.

4. High-Deductible Plan F – Minimum Premiums

  • Same benefits as standard Medicare Plan F after the annual deductible of $2,370 is met out of pocket.
  • Significantly lower monthly premiums.

5. Best for Lowest Premiums: High-Deductible Plan G

  • Matches Medicare Plan G benefits after the annual deductible of $2,370 is paid out of pocket.
  • Significantly lower premiums.

What is the Best Supplemental Insurance to go with Medicare?

Every beneficiary must compare plan options to select the ideal Medicare Supplement insurance plan in New Jersey. Your pick depends on how you want to utilize your Medicare benefits. You will pay for prescription drug coverage separately regardless of your choice.

What is the most popular Medicare Supplement plan in New Jersey for 2021?

Medicare Plan G is quickly becoming the favored supplemental plan in New Jersey because it’s comprehensive and has no eligibility limitations.

Which plan has the best benefits in New Jersey?

Medicare Plans F and Plan G have the most comprehensive coverage, but they also have the highest premiums. If you want to limit your monthly premium and can afford to pay some out-of-pocket costs, Medicare Plan N or a high-deductible plan may work best for you.

How do I choose the best plan?

Compare coverage and rates for all plans available in your area before making your final selection. You should consider how often you visit the doctor, whether you travel out of the country, and other lifestyle factors when determining which plan best fits your needs.

If you still have questions, connect with one of our Policy Guides. We look forward to helping you select your personal best Medicare Supplement insurance plan in New Jersey.

Which Medigap company offers the best rates New Jersey?

Every Medicare insurance company will determine their best rate for each New Jersey zip code. The most affordable insurer in your location may be one of the more expensive companies in another.

What is the average cost for a Medicare Supplement plan in New Jersey?

New Jersey premiums vary by zip code. For illustration purposes, consider the following quotes for a female nonsmoker living in zip code 07009 at the age of 65. Beneficiaries must pay for a Part D prescription drug plan on top of the premium for a Medigap plan in New Jersey.

  • Medicare Plan G – $142.69 – $201.32 range; $156 average
  • Medicare Plan N – $96.46 – $131.48 range; $112 average
  • High-deductible G – $47.06 – $60.85 range; $52 average

Common Medicare Supplement Questions in New Jersey:

What Companies Sell Medigap Plans in New Jersey?

There are more than 20 private insurance companies authorized to sell Medigap plans in New Jersey. It’s important to consider financial health, competitive pricing, and quality of customer service when selecting an insurer for your Medigap insurance. The following companies are our top picks for New Jersey beneficiaries.

  • Aetna
  • Cigna
  • Mutual of Omaha

When can I apply for a New Jersey Medicare Supplement Plan?

You can apply for a Medicare Supplement insurance plan in New Jersey at any time as long as you’re enrolled in Medicare Part A and Medicare Part B. If you apply during your Medigap Open Enrollment Period within the first six months of Part B enrollment, you will enjoy some money-saving guaranteed issue rights:

  • The Medicare insurance company is required to accept your application. No risk of denial.
  • You will receive the same rates as other Medicare beneficiaries regardless of pre-existing conditions or your current health condition. No medical underwriting.
  • The insurance company cannot cancel your policy in the future as long as you continue to pay your monthly premiums.

You should apply for a Medicare Part D plan at the same time you apply for your Medigap plan. If you miss your initial open enrollment period, you may later qualify for a special guaranteed enrollment period.

What is better, Plan G or Plan N?

While Plan G covers Part B coinsurance completely, Plan N requires copayments for doctor and emergency room visits. Plan G offers more comprehensive Medicare coverage but is a bit more expensive. Both plans require beneficiaries to pay for a Medicare Part D plan separately.

What is Medicare Supplement Insurance?

Medicare Supplement insurance plans extend the Medicare benefits that beneficiaries receive with Original Medicare. Here’s what you need to know:

  • When you’re eligible for Social Security benefits and enroll in Medicare Part B, you receive basic benefits that require you to pay coinsurance and other out-of-pocket costs.
  • Enrolling in a Medigap plan in New Jersey will help with those outstanding medical expenses.
  • Your supplemental insurance policy will come with a monthly premium, which is paid directly to one of the private health insurance companies authorized to sell New Jersey Medigap policies.

Working with a licensed insurance agent or contacting one of our Policy Guides is the first step to enrolling in a supplemental plan. You will also need to apply for Part D prescription drug coverage.

Is Plan G the best Medigap Plan in New Jersey?

How much does Plan G cost in NJ?

The cost of Medicare Supplemental coverage varies, depending on location and personal factors like age and tobacco use. In New Jersey, rates are typically similar in most zip codes. For example, the average Plan G premium for a female nonsmoker aged 65 is $156 in 2021 whether she lives in zip code 07009, 07004, or 07014.

 

What is the Plan G deductible in 2021?

Medicare Supplement plans in New Jersey do not have deductibles. You will have to pay the Part B deductible out of pocket if you choose Medicare Plan G. In 2021, the Part B deductible is $203.

 

What does Medigap Plan G cover in New Jersey?

Related Topics

Ready to learn more?

My Medigap Plans is a rapidly growing resource for Medicare beneficiaries. We specialize in educating consumers on their options and guiding them through the process of plan selection. We work closely with some of the nations top rated carriers such as Aetna, Cigna and Mutual of Omaha. Compare our list of the 10 Best Medicare Supplement Insurance Companies or take a deeper look at the plans by reviewing our Medicare Supplement Plans Comparison Chart. Learn more or about Medicare Part D Prescription Drug plans, or request a Medicare Supplement Plan Quote.

New Jersey Medicare Resources

NJ Medicare Statistics

New Jersey’s population continues to increase, rising from 8.95 million in 2015 to more than 9 million in 2019. Here are the top five counties by population:

  • Bergen, 937,920
  • Middlesex, 837,288
  • Essex, 800,401
  • Hudson,679,756
  • Monmouth, 627,551

New Jersey has nearly 1.354 million seniors. Here are a few more Medicare statistics:

  • In 2017, New Jersey had more than 1.2 million Medicare enrollees, roughly 13 percent of the population.
  • About 89 percent of seniors are enrolled in Medicare Part and Part B.
  • In 2015, 437,503 Medicare beneficiaries had Medigap plans in New Jersey.
  • Plans F, C, and N are the top three Medicare Supplement insurance plans in New Jersey.
Key Take Aways
  • In New Jersey, Medicare Supplement Plan G is the most popular plan for 2021.
  • There are 10 Medicare Supplement Plans in New Jersey to choose from.
  • Medicare Supplement plans do not use a network, go wherever Original Medicare is excepted.
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