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Medicare Supplement Plans in New Jersey for 2023


New Jersey Medicare Supplement plans work alongside Original Medicare by covering the leftover out-of-pocket costs from Medicare Part A and Part B. Medicare Supplement (Medigap) plans are standardized throughout the United States thus, they share the same benefits among plans of the same letter.

There are ten lettered Medicare Supplement plans in New Jersey and two high deductible plans. The best plan for you depends on your health and budget needs.

Below, we discuss NJ Medicare Supplement plans and how you can utilize their benefits to get the most of your Medicare coverage in 2022.

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What Are the Best New Jersey Medicare Supplement Plans for 2022?

When choosing the best NJ Medicare Supplement plans for 2022, it is essential to look at the plans’ benefits and compare premiums. With a Medigap plan, you get the most bang for your buck in terms of coverage.

Due to their comprehensive coverage, Medicare Supplement Plan F, Plan G, and Plan N are the top Medigap plans in New Jersey.

When you enroll in Medicare Supplement Plan F, you do not have to worry about out-of-pocket costs like copayments, deductibles, or coinsurance. This plan covers all the out-of-pocket expenses Original Medicare leaves behind. The only cost associated with this plan is the monthly premium.

Unfortunately, this plan is only available to those who enrolled in Original Medicare before January 1, 2020. If you did not have Medicare prior to that date, you will not be eligible for Medigap Plan F.

Next, Medigap Plan G is a fantastic plan for those who want full coverage and are not eligible for Plan F. When you enroll in this plan, you are only responsible for your monthly premium and the annual Medicare Part B deductible. After you meet the Medicare Part B deductible, your Medicare Supplement Plan G covers 100% of your remaining costs for the calendar year.

Lastly, Medicare Supplement Plan N requires a few more out-of-pocket costs. However, this helps keep the monthly premium low compared to the other plans.
When you enroll in Medicare Supplement Plan N, you are responsible for paying the monthly premium, the Medicare Part B annual deductible, $20 copayments at the doctor or specialist, $50 copayments at the emergency room (waived if admitted), and excess charges if applicable.

Excess charges apply when a doctor does not accept Medicare assignment. Most states allow excess charges, including New Jersey.

However, if you receive care in a state that does not permit excess charges, such as New York or Connecticut, you will avoid them regardless of where you reside. Still, it is rare to encounter excess charges in general because most doctors accept Medicare assignment.

When to Enroll in a New Jersey Medicare Supplement Plan

The best time to enroll in an NJ Medicare Supplement plan is during your six-month Medicare Supplement Open Enrollment Period.

The Medicare Supplement Open Enrollment Period allows beneficiaries with pre-existing conditions to enroll in a plan without risk of denial or increased premium.

If you wish to enroll in a Medicare Supplement plan in NJ outside of this enrollment period, you may have to answer underwriting health questions. Therefore, a carrier can deny you a policy for any reason unless you qualify for a Special Enrollment Period.

How Much do New Jersey Medicare Supplement Plans Cost?

New Jersey Medicare Supplement Plans vary in cost based on several factors. Most Medicare Supplement plans in New Jersey are attained-age rated. So your premium will be higher the older you are.

As a result, the cost of your plan will vary based on enrollment age, location, gender, and sometimes health.

The chart below compares Medigap premium rates for male and female Medicare recipients in New Jersey at age 65 versus 75. As you can see, the younger you are, the lower your cost.

Male Medicare Beneficiary
Medigap Plan Monthly Premium Age 65 Monthly Premium Age 75
Medicare Supplement Plan F $166-$466* $212-$475
Medicare Supplement Plan G $128-$454 $179-$454
Medicare Supplement Plan N $96-$349 $147-$349
Female Medicare Beneficiary
Medigap Plan Monthly Premium Age 65 Monthly Premium Age 75
Medicare Supplement Plan F $150-$406* $184-$428
Medicare Supplement Plan G $121-$395 $158-$395
Medicare Supplement Plan N $96-$303 $128-$303

* If on Original Medicare before 1/1/2020

Remember, the chart above is only an example of your premium range. It uses a New Jersey ZIP Code for sample premium rates. Your actual costs may vary.

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Medicare Supplement Plans for Disabled Under 65 in NJ

New Jersey requires insurance companies to offer at least one Medicare Supplement plan to those under 65 receiving Medicare due to disability.

Occasionally an insurance company will voluntarily sell multiple Medicare Supplement plans to disabled beneficiaries. However, monthly premiums are usually much higher than for someone turning 65.

Many beneficiaries under 65 find Medicare Advantage plans are more suitable until they turn 65. Some areas even have Medicare Advantage Special Needs Plans for people with specific disabilities or beneficiaries eligible for Medicare and Medicaid.

Once 65, you will receive your Medigap Open Enrollment Period and can enroll in a Medicare Supplement plan at a lower cost with no underwriting health questions. Thus, you will not face denial due to pre-existing conditions.

Additional Medicare Coverage Options in New Jersey

Besides Medicare Supplement plans, New Jersey also offers Medicare Part D prescription drug plans, Medicare Advantage, and ancillary policies to those with Medicare.

Once you become eligible, it is vital to enroll in Medicare Part D to avoid any late enrollment penalties. The only requirement for Medicare Part D is to have at least Part A.

Original Medicare does not cover prescription drug coverage. Thus, you must get this coverage either through a Medicare Advantage Prescription Drug plan (MADP) or a Medicare Part D plan.

Medicare Part D plans help cover the cost of prescription drugs. Without this coverage, you may need to pay thousands of dollars for a month’s prescription. You can pair these plans with your Original Medicare and Medicare Supplement plans.

Because Original Medicare also does not include dental, vision, or hearing coverage, New Jersey offers stand-alone policies that you can pair with your Medicare Supplement plan.

If you decide Medicare Supplement coverage is not for you, Medicare Advantage options are available in New Jersey. Private insurance companies offer Medicare Advantage plans as a primary healthcare coverage option. These policies work in contrast to Medicare Supplement plans, which serve as secondary coverage to Original Medicare.

These plans often have low (or zero) monthly premiums, higher out-of-pocket costs, and additional benefits like prescription drug (MAPD), dental, vision, hearing, transportation, and gym memberships.

The downside to these plans is that they often have restrictive provider networks, unlike Medicare Supplement plans. Additionally, a Medicare Advantage plan usually requires referrals to see specialists.

How to Get a Medicare Supplement Plan in New Jersey

Exploring NJ Medicare Supplement plan options can be time-consuming and energy-draining. Our licensed Medicare agents are experts and can help find the best plan to fit all your needs. They make discovering the most suitable policy more accessible.

To compare all the top plans in your area, just call the number above or fill out an online rate form. The sooner you get coverage, the sooner you can enjoy peace of mind.

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Sources:

MedicareFAQ is dedicated to providing you with authentic and trustworthy Medicare information. We have strict sourcing guidelines and work diligently to serve our readers with accurate and up-to-date content.

  1. Medigap, Medicare. Accessed July 2022.
    https://www.medicare.gov/supplements-other-insurance/whats-medicare-supplement-insurance-medigap
  2. Medicare Insurance, NJ Government . Accessed July 2022.
    https://www.nj.gov/dobi/division_insurance/index.htm
  3. Medicare, NJDOI. Accessed July 2022.
    https://www.nj.gov/dobi/division_insurance/medsuppunder50/intro.html

Jagger Esch

Jagger Esch is the Medicare expert for MedicareFAQ and the founder, president, and CEO of Elite Insurance Partners and MedicareFAQ.com. Since the inception of his first company in 2012, he has been dedicated to helping those eligible for Medicare by providing them with resources to educate themselves on all their Medicare options. He is featured in many publications as well as writes regularly for other expert columns regarding Medicare.

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