Best Medicare Supplement Plans in New Jersey

Medicare Supplement plans in New Jersey help beneficiaries pay out-of-pocket expenses left after Medicare covers initial healthcare expenses. There are ten Medigap plans available to choose from.

• Of the ten plans, Mutual of Omaha's offers the best Medigap Plan G rates at $143.88 per month for the most comprehensive coverage.
• Mutual of Omaha's Medicare Supplement Plan N offers the best value for $112.47 per month.
• And for those wanting the lowest possible monthly premium, Mutual of Omaha's High Deductible Plan G is offered for $58.47. There is a deductible of $2,700 that needs to be met before this plan will cover costs.

Below are highlights and key benefits of Medicare Supplement plans.

What's the Best Medicare Supplement Company in New Jersey?

Based on our review of several key factors, Mutual of Omaha is the best Medicare Supplement company in New Jersey.

While Mutual of Omaha Medigap plans tend to be more affordable in New Jersey, it's not the only factor when selecting the best Medicare Supplement company. For example, depending on your plan letter of choice, one provider might offer Plan N at a lower cost but may be pricier for Plan G; every insurer has its own set of advantages and drawbacks depending on their levels of coverage. For this reason, Mutual of Omaha remains our top selection during the review process due to its affordability, expansive range of plan choices, household premium discounts, and high customer satisfaction rates.

This chart compares different Medicare Supplement companies to Mutual of Omaha that are also available in New Jersey, including sample premiums, ratings, and market share:

For illustrative purposes only: The premiums listed are for a 65-year-old female, non-smoker from a local zip code. Many insurance companies offer household discounts - eligibility for premium discounts can be determined when enrolling in a plan. The AM Best rating determines the financial rating of each carrier. No warranties or guarantees of any kind have been expressed.

How Much Does a Medigap Plan Cost in New Jersey?

The best price for Medicare Supplement Plan G in New Jersey is $143.88 per month with Mutual Of Omaha.

Your age and plan choice will have the most significant impact on your premium.

Here you can see how the prices compare for several different plans:

When Can I Apply For a New Jersey Medicare Supplement Plan?

The best time to apply for a Medicare Supplement Plan in New Jersey is during the six-month Medigap Open Enrollment period, which starts the first month that you are 65 and have Part B coverage. It is essential to enroll during this time, since the period cannot be changed or repeated. See below for age-specific application information.

If you are 65 or older: After the date you enroll in Part B, you will have six months to enroll in Medigap with a guaranteed plan of your choice.

If you are turning 65 soon: Plan to enroll in Medigap when you turn 65, right after you enroll in Part B. Again, you will have six months after the date you turn 65 and enroll in Part B.

If you are under 65: You may not have eligibility. In certain states, Medigap policies have to be sold to those under 65, but they will generally cost you more.

You will receive guaranteed issue rights when enrolling during your Initial Enrollment Period, which means that you cannot be denied coverage or charged more by insurance companies. The Medicare insurance company cannot consider your current health or pre-existing conditions when determining your Medigap rates, and you are guaranteed enrollment in the plan of your choice during this enrollment period.

There are a few other instances where you may have guaranteed rights such as losing group coverage, moving out of a plan's service area, or your insurance provider going out of business. If you fall into one of these categories, you may be eligible for a Special Enrollment Period.

If You are Under 65

If you are under 65, you may not be able to sign up for a Medigap plan unless you have a qualifying disability or ESRD (end-stage renal disease). Several states are required to sell at least one Medigap to beneficiaries under 65 with a disability. If you live in one of these states, your six-month Open Enrollment Period begins when your Part B coverage starts.

FAQ:

When Can I Change Medigap Plans?

The only time you can change Medigap plans without undergoing medical underwriting is during your six-month initial Open Enrollment Period (OEP). If you try to switch plans at any other time, you may be denied or charged more for the switch. During the OEP, beneficiaries have the option to pay the premium for their current and new policies simultaneously for one month. This is called a "free look period." This allows them to switch back to the old plan if they aren't satisfied with the new one. However, once the old plan is canceled, the insurance company is not obligated to allow another free look period.

Can I Be Denied Medigap Coverage?

Not if you are within the Open Enrollment Period (OEP). But private insurance companies can deny a beneficiary coverage if they apply outside their OEP. There are no guaranteed issue rights outside that time unless you have a Special Enrollment Period, so the insurer will use medical underwriting to determine acceptance and pricing.

Ready to Learn More?

We help educate Medicare beneficiaries on their Medigap options and help them go through the process of reviewing and comparing plans. We work with some of the nation's top-rated Medigap carriers. So give us a call today, or request a quote online to learn more about Aetna Medicare Supplement plan G and Mutual of Omaha Medicare Supplement plan G in your state.