Medicare Supplement Plans in New Jersey
Medicare Supplement plans in New Jersey and all over the United States remains a popular choice. According to AHIP, a large insurance trade association, there were over 10 million of these policies in force, and this is up by about 300,000 policies since 2010.
Would you like to learn more about Medicare Supplement plans in New Jersey? See quality options in seconds by entering your ZIP code on this page.
Medicare Supplement Plans in New Jersey Landscape
About 13 percent of New Jersey residents enjoy Medicare benefits. The majority of beneficiaries are senior citizens, and these are how they are represented in large New Jersey cities:
- Newark: 8.6%
- Jersey City: 9.0%
- Paterson: 8.9%
- Elizabeth: 9.2%
- Edison : 11.2%
Comparison of Medicare Supplement Plans in New Jersey
Standardized Medigap policies have very expected benefits from year to year. Even though these companies come from private health insurance companies, the coverage is set by Medicare.
Here is some quick information about some of these Medicare supplement plan levels:
- Over half of beneficiaries with a supplement choose plan F. There is a regular and high deductible plan F.
- The second most popular plan, with about 13 percent of the market, is plan C.
- Both Medicare Supplement plan F and plan C cover Part A and Part B coinsurance and deductibles, so they are very robust.
- Medicare Plan G is similar to F, and Plan D is similar to Plan C. The difference is that G and D don’t cover the Part B deductible, which is currently about $147.
- Plan K and Plan N require more coinsurance payments, but premiums are usually more affordable.
Who Qualifies for a Medicare Supplement plan in New Jersey?
Anybody with Part A and B of Medicare can choose to buy a Medicare supplement plan. Since drug coverage is not included, these beneficiaries will also need to purchase a separate Part D policy.
During certain guaranteed enrollment periods, such as when a beneficiary is just enrolling in Medicare, there are no health questions to answer on the application. At other times, applicants will have to go through medical underwriting, and they could get charged more or even declined because of preexisting health conditions.
MA or Medicare Supplement Plans in New Jersey
Your best choice may depend upon available local plans, your budget, and your health. While many Medicare Advantage options have a very low (or even no) additional monthly premium and include Part D, they are not the right choice for every New Jersey Medicare beneficiary. While many supplements can reduce out-of-pocket costs to almost nothing, many Medicare Advantage policies have out-of-pocket maximums of $6,000 or more. In some cases, a Medicare recipient could save money by paying more money for more coverage.
Locate New Jersey Medicare Supplement Plan Rates
Here’s another good thing about supplements. The levels are all the same, so beneficiaries are free to compare prices from different companies. Medicare Plan F is always Plan F, and it doesn’t matter which quality company that it comes from.
These quality insurers provide Medicare Supplement insurance in New Jersey:
- Aetna Medigap Plans
- Colonial Penn Life
- Cigna Medigap Coverage
- Horizon Blue Cross Blue Shield of New Jersey
- Mutual of Omaha Medicare Plans
To find the company with the lowest premiums in your area, simply enter your state for a quick quote to compare Medicare Supplement plans in New Jersey. You can also compare MA and Part D policies here. We hope to help as many people in New Jersey as possible find the right coverage at an affordable price.