New Jersey Medicare Supplements: What Do They Cover and How Do They Work

New Jersey Medicare Supplement plans fill in the “gaps” in Medicare, so that you have very few (if any) out of pocket costs. Between Medicare and the Medigap plan, you will have complete (or almost complete) coverage. All Medigap plans must go by the Federal Medigap chart. You can view the chart here Medigap coverage chart.

There are a total of ten different standardized plans. However, some of the plans are considered to be “more” coverage than others and are more advantageous than others: Medigap Plan F, Plan G, and Plan N are the most common plans (and the plans offered by most insurance companies). Regardless of which plan you choose, the companies provide the Federally-standardized benefits as conveyed in the standardized plans chart. The plans offer comprehensive coverage in filling in the “gaps” in “original” Medicare (Medicare Parts A & B). First and foremost, Plan F is the most comprehensive option and is often viewed as the most advantageous – it pays both Medicare deductibles (Medicare Part A and Medicare Part B), as well as the 20% that Medicare itself doesn’t cover at the doctor and hospital. With that said, it is our belief that Plan G can sometimes be, depending on the premium where you live, a better option and a better value.

No matter which company you decide on or how you purchase the policy, the plan will work the same way:

  • First of all, and most importantly, you will not be restricted to a certain network. With Medigap plans, there are no networks that you must stay within when using a Medigap plan. You can go to any doctor/hospital nationwide, and there are no restrictions as long as the facility takes Medicare. In short, all doctors/hospitals that take Medicare are required to take the standardized Medicare Supplement plans that are sold in New Jersey.
  • Second of all, you are not involved in any way in the claims process. All claims that you have are paid/processed through the Medicare “crossover” system. This system is in place (for New Jersey and nationwide) so that you do not have to file claims yourself or do anything to ensure timely payment of the claims.

New Jersey Medigap Comparison

Because of the aforementioned facts that coverage, doctor acceptance, and claims payments are standardized with all Medicare Supplement companies, there are two things that are the most important when comparing the plans: price and company reputation. These two factors can both vary greatly from company to company and they should be the basis for your decision on a company, when dealing with Medicare Supplement insurance.

It is obviously not plausible to contact all of the companies (about 25!) that offer Medicare Supplements in New Jersey; however, you can easily obtain a chart showing rates from an independent brokerage/agent. This allows you to compare all of the plans in a centralized, unbiased place. A good, well-versed independent agent should also be able to give you information that you can not get from the companies themselves – i.e. plan customer service, rate increase history, and other factors that you are not able to obtain from the companies themselves.

Medicare-Supplement.US can help you compare plans by providing a customized rate quote analysis by email. This allows you to see rates and company ratings in a centralized place and will greatly assist in your understanding of the options. To have a rate quote analysis emailed to you, just request a New Jersey Medigap quote.

Special State-Specific Implications for New Jersey

As we’ve established above, coverage is the same with all companies offering Medigap insurance nationwide. That said, there are some specific guidelines that you should be familiar with regarding Medicare Supplement plans in New Jersey:

  • New Jersey DOES use tobacco usage as an underwriting criteria when you are turning 65 or in open enrollment or “guaranteed issue” period (many states do). There are higher rates (with nearly all companies) based on tobacco use, even when you are in open enrollment or “guaranteed issue”.
  • Almost all companies have gender-specific rates. In this case, female rates are typically 5-10% lower than the male rates. One notable exception is (REDACTED), which does not have gender-specific rates and is very competitively priced in NJ.
  • New Jersey Medicare Supplements do permit household discounts to be applied on the plans. This is something to consider, if you are applying with a Medicare-eligible spouse. There are some companies (Mutual of Omaha, Family Life, to name a few) that do offer household discounts. This can definitely mean the difference in one company over another when comparing costs.
  • There are several rating areas in New Jersey, with most companies. Typically, rates are higher in urban areas but this is not always the case. Your rate is always determined by your zip code, so you don’t just pay the statewide rate – there are rates specific to your zip code.

Obtaining a New Jersey Medigap Plan

Getting your New Jersey Medicare Supplement plan lined up is easy to do, particularly if you are in a special enrollment period, such as open enrollment (turning 65 or signing up for Medicare Part B) or “guaranteed issue” (losing employer coverage, losing Advantage plan coverage, moving to a new state, etc.)

Once you decide that you are ready to move forward or even to sign up for a plan, simply compare the options, including rates and company ratings, select a plan and sign up. To get a rate quote comparison from us (Medicare-Supplement.US, an independent agency), which will include the top-priced options for your age and zip code and company ratings, simply request the information online using: New Jersey Medicare Supplement Quotes. We can promptly provide the information you are seeking so you can compare multiple quotes in a centralized place and make an informed decision.

New Jersey Medigap: Top Companies Available Here

NOTE: There are some other companies that offer New Jersey Medigap However, the companies listed above are the ones that are currently (2012) the most competitively priced.