New Jersey Supplemental Medicare Insurance, or “Medigap,” helps ease the costs of hospital and outpatient services and fees not covered under Medicare insurance. This can include remaining balances of co-pays, deductibles, and services.
New Jersey offers ten Medigap policies. These Medigap policies are “standardized” which means you will get the exact same coverage no matter which insurance carrier you choose. However, different companies offer different rates so it’s essential to shop around. To find companies in your area that offer Medigap insurance, fill out the zip code form to compare rates immediately.
If you’re interested in any of the Medigap plans, you must already be enrolled in Medicare coverage. Prescription drug costs can be very expensive and are not covered, or fully covered, under all Medigap policies. A Stand-Alone Prescription Drug Plan has monthly premiums and deductibles ranging from just a few dollars to several hundred dollars a month depending on the prescription coverage you require.
One way to save money on Medicare costs in New Jersey is to opt into a Medicare Advantage Plan. You can select a Health Maintenance Organization (HMO), Preferred Provider Organization (PPO), or Private Fee-for-Service (PFFS). Many of these programs include prescription drug coverage.
The premiums, deductibles, and co-pays for Advantage Plans are usually much lower than traditional Medicare. However, keep in mind that just like when you had company or private health insurance, you are restricted to only seeing doctors and visiting health facilities within the network. If you see a doctor outside of the network, the fees can be very expensive.
Medicare Advantage plans replace the coverage provided by Medicare Parts A and B. Advantage plans are cheaper than Medicare, but provide the same services. The reason they are cheaper is because they have “in-network” providers that you are limited to choosing from when selecting health providers. The cost of the services provided by Medicare Advantage plans are reimbursed by Medicare, thus lowering the cost passed on to you. To find out how much a Medicare Advantage plan will cost, fill out the zip code form to compare rates.
Fill out the zip code form to compare plans and to speak to a qualified insurance agent to discuss the details of each plan. Below is a basic overview of Medigap coverages. Note that these are Plans A – N. When mentioning “Part A” and “Part B,” it is concerning original Medicare Parts A and B, not Plans A or B.
Fill out the zip code form to get specific costs for plans in your area and to compare rates instantly.
Downtown Bellevue, just off I-405