Enrolling in Medicare Supplement Plan G in New Jersey allows beneficiaries to trade out of pocket costs like copayments and coinsurance for one monthly premium. The federal Medicare program has gaps that make it difficult for some beneficiaries to cover medical expenses and secure medical equipment. Medigap plans can provide peace of mind, and the most popular plan is Medicare Supplement Plan G in New Jersey.
What is Medicare Supplement Plan G in New Jersey?
There were more than 480,000 New Jersey beneficiaries enrolled in Medicare Supplement insurance policies at the end of December 2018. Of those beneficiaries, close to 73,000 were enrolled in Plan G coverage and more than 190,000 were enrolled in Plan F. Now that eligibility restrictions are in place for Plan F, the most comprehensive plan available to new Medicare beneficiaries is Plan G.
There are a few things you should know before enrolling in Medicare Supplement insurance Plan G in New Jersey:
- Medicare Supplement insurance plans are different from Medicare Advantage plans because they work with Original Medicare rather than replacing it.
- When you seek medical services, Medicare Part A and Medicare Part B will pay the bills up to plan limits. Medigap Plan G benefits then kicks in as a secondary payment source, covering out of pocket expenses like copays, Medicare Part A coinsurance, and Medicare Part B coinsurance.
- If you were eligible for Medicare after December 2019 and want the most comprehensive supplemental plan available, your best option is Medicare Supplement insurance Plan G in New Jersey. It offers the most complete benefits for new beneficiaries, including foreign travel emergency care up to an approved amount.
Before comparing Medicare Plan G rates online and selecting an insurance agency, visit Medicare.gov or consult with one of our Policy Guides to learn more about Medigap Plan G.
What does Medicare Supplement Plan G cover?
Original Medicare pays for a lot when it comes to your healthcare. On top of the Medicare-approved amounts that are covered by the Federal Medicare program in the United States, you can enjoy having these additional Medicare benefits covered if you sign up for Medicare Supplement Plan G in New Jersey.
Medigap Plan G will cover:
· Initial pints of blood
· Medicare Part A deductible
· Medicare Part A hospital costs
· Part A expenses
· Part A hospice care coinsurance
· Skilled nursing facility care
Benefits also pay these Medicare Part B costs:
· Charges over the amount Medicare allows – “Part B Excess Charges”
· Durable medical equipment
· Foreign travel emergency care (lifetime plan limits apply)
· Medicare Part B coinsurance and copays
Be advised that the Part B deductible will not be covered by Medigap Plan G in New Jersey.
What is the Plan G deductible in 2021?
There is no deductible for Medicare Plan G unless you select the high deductible plan. You only need to pay the Part B deductible, which is $203 for 2021.
What is the Monthly Premium for Medicare Supplement Plan G in New Jersey?
Offering up to $50,000 in foreign travel emergency benefits and covering almost all Medicare Part A and Part B gaps, one of the most popular Medigap plans is Medicare Supplement Plan G in New Jersey. What you pay for your policy depends on your zip code and some personal factors like your age.
To illustrate current Plan G rates in New Jersey, we generated 2021 Medicare Supplement plan quotes for a 65-year-old woman who doesn’t smoke and lives in zip code 07304.
- Monthly Premium Range – $142.69 – $201.32
- Average Monthly Premium – $156
New Jersey Medicare Supplement insurance companies can use of the following methods when determining Medicare Supplement Plan G rates:
- Community Rating – All beneficiaries enrolled in the plan receive the same rates. This is the least common method of rating.
- Issue-Age Rating – Your age when you enroll in the plan determines your rate. The older you are, the higher your monthly premium.
- Attained-Age Rating – Your current age will always determine your rate, which means your rate will go up as you age.
When can I enroll in Medicare Supplement Plan G in NJ?
The best time to enroll in Medicare Plan G is within six months of signing up for Medicare Part B. That is known as your Open Enrollment Period, and you have some guaranteed rights during that six-month period. For instance, the insurer cannot deny you coverage and cannot use medical underwriting to determine your monthly premium.
As long as you apply during your Open Enrollment Period and then continue to pay your premiums and remain living in the policy’s service area, you’re also guaranteed continuation of your policy. If you missed your initial enrollment period, you may qualify for another one later.
If you don’t qualify for another enrollment period with guaranteed rights, you may still apply whenever you want. The insurance company will have the right to deny you coverage or use your medical history to determine your rates.
What Is the Difference Between Plan G and Plan G With a High Deductible?
There is no deductible for Medicare Supplement insurance Plan G in New Jersey unless you select the high deductible plan. While that option allows you to pay a much lower monthly premium, it also requires you to pay the full deductible amount before accessing your supplemental Medicare benefits.
What is the Best Medicare Supplement Plan G in New Jersey?
Each Medicare Supplement plan offers standardized benefits. That means you will receive the same coverage no matter what insurer you select. When comparing Medicare insurance companies, you should consider three main factors:
- Financial integrity
- Long-term stability
- Excellence in customer care
There are many insurance agencies offering Medicare Supplement insurance Plan G in New Jersey, but there are only a few that we confidently recommend to beneficiaries. They’re listed here for your comparison along with their A.M. Best ratings for financial health.
- Mutual of Omaha – A+ (Superior)
- Aetna – A (Excellent)
- Cigna – A (Excellent)
Which is better, Plan F or Plan G?
How are Plan F and Plan G Different?
Medigap Plans F and G offer the same coverage except Plan G doesn’t cover the Medicare Part B deductible.
Is Plan G Cheaper than Plan F in New Jersey?
Medigap Plan G is cheaper than Plan F because it requires beneficiaries to pay the Part B deductible out of pocket. When you compare rates for your zip code, you may find that Plan G is the better deal even with that additional out of pocket expense.
Which should I choose?
Your plan options depend on your Medicare enrollment date. If you enrolled in Medicare Part B prior to January 1, 2020, you may select Medicare Plan F or Plan G. You can compare rates for your zip code online to determine the most affordable plan, considering all out of pocket costs like the Medicare Part B premium and deductible.
If your Medicare enrollment date was after January 1, 2020, you’re not eligible for Plan F. Plan G is the most complete plan available unless you want to consider Medicare Plan N. Working with an insurance agent or one of our Policy Guides can help you select the right plan for your budget and healthcare needs.
What is the Most Popular Medicare Supplement Plan in New Jersey for 2021?
Plan F was the most popular Medigap plan in New Jersey for many years, but new Medicare beneficiaries are no longer eligible to apply. That change is pushing more beneficiaries into Plan G policies. After a full comparison of your options, there are some good reasons you may also select Medigap Plan G:
- Any Medicare beneficiary can apply for Plan G. Your Medicare Part B start date doesn’t matter.
- If you apply during your Open Enrollment Period, insurance companies are required to accept your application to Plan G.
- You can receive medical services from any provider you choose on Plan G. If a doctor charges more than is authorized by Medicare, your supplemental plan will cover the Medicare Part B excess charges.
- Plan G is typically considered the most valuable plan even if Plan F is an option. It offers the most benefits for a reasonable monthly premium.
- Except for the Medicare Part B premium and deductible, Plan G coves all of Original Medicare’s gaps
Frequently asked question about Medigap Plan G:
Full Medicare Supplement Plan G Benefits Chart
Does Plan G cover prescription drugs?
Medicare Plan G does not include a drug plan. Some Medicare insurance companies offer prescription drug plans, or you can purchase prescription drug coverage through Medicare Part D.
Does Plan G cover the Medicare Part B deductible?
Medicare Supplement Plan G does not cover the Medicare Part B deductible.
Does Plan G cover Medicare Part B excess charges?
Medicare Supplement Plan G covers Part B excess charges. That’s one of the biggest differences between Medicare Plan G and Medicare Plan N.
Does Plan G cover the Medicare Part A Deductible?
Medicare Plan G does cover the Medicare Part A deductible.
Is Plan G worth it?
Medicare Supplement Insurance Plan G in New Jersey is worth the monthly premium if you’re interested in the most comprehensive health insurance available. It simplifies your healthcare and gives you peace of mind by eliminating many of the bills you would otherwise need to pay out of pocket.
If you’re eligible for Plans F and G, you may find that Plan G is the most affordable option even after you pay the Medicare Part B deductible out of pocket. Compare rates online and consult with our Policy Guides if you need more help selecting a plan
What is the difference between plan G & N in New Jersey?
Plan G is the more complete insurance plan because it offers more coverage. There are two ways that these plans differ:
- Plan G covers all copayments while Plan N requires beneficiaries to pay up to $20 for doctor visits and up to $50 for emergency room visits.
- Plan G covers all Medicare Part B excess charges while Plan N covers no excess charges.
Does Plan G cover dental?
Medigap Plan G does not include dental coverage.
What is Medicare Part G?
There is no Medicare Part G. Since Medigap plans weren’t a part of the original Medicare policy, they’re referred to as plans rather than parts. While Medicare Part G is technically incorrect, some people still use it when referring to Plan G.
Does Plan G cover SilverSneakers?
Medigap Plan G does not include a Silver Sneakers membership or any other gym membership. Consider a Medicare Advantage plan if you want health insurance that includes gym benefits.
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.