Best Medicare Supplement Plans in New Jersey
Mutual of Omaha offers the best Medicare Supplement Plans in New Jersey. Their Plan G cost came in with the best rate at $143.88 per month; followed by the most competitive Plan N rates, just $97.85 per month. Some key features include household discounts, fast underwriting, low monthly premiums, and high customer satisfaction rates.
When researching the best Medicare Supplement plan in New Jersey, we only examined options that were financially feasible from companies with long-term financial stability. Mainly because a company is new does not mean it will offer lower rates; on the contrary, these “newer no-name” insurance companies typically raise prices after the first year. To save yourself both money and headache down the line, stick to brands you know and trust.
Best Plan G Rates: Mutual of Omaha
The benefits offered with Mutual of Omaha Medigap Plan G are vast and include Part B excess charges, Medicare Part A deductible, and Part B coinsurance. What’s more, there are no referrals required nor any networks limiting your choice of providers. You have the freedom to pick any medical provider as long they participate in the Original Medicare network.
- Original Medicare Coinsurance
- Part A Deductible
- Foreign Travel
- Part B Excess Charges
- Emergency Care
- Lower out-of-pocket expenses overall
Average Medigap cost in New Jersey:
- Plan F: $174.21
- Plan G: $108.21
- Plan A: $129.49
- Plan N: $79.30
Best Plan N Rates: Mutual of Omaha
Medigap Plan N from Mutual of Omaha allows you to visit any doctor that accepts Original Medicare. Your benefits are set each year if you choose this plan, and it has a copay of $25 for office visits and a $50 copay for ER visits. You also have the option to add dental and vision insurance to cover additional needs.
- Original Medicare Part A and B Coinsurance
- Part A Deductible
- Emergency care
- Lower out-of-pocket expenses overall
What's the Best Medicare Supplement Company in New Jersey?
The overall best Medigap provider in New Jersey is Mutual of Omaha.
In general, Mutual of Omaha Medigap plans are cheaper in New Jersey. This is one of the main reasons it’s our most popular provider in our review process. The best Medicare Supplement company also depends on the plan letter you’re considering. As an example, you may notice that Plan N is less costly with one company but Plan G might be more reasonably priced with another carrier. Also, every company has advantages and disadvantages based on their unique plan levels too.
|Plan G |
|Plan N |
|Rate Increase |
(Last 5 years)
|BCBS of NJ||14.6%||$147.56||$109.18||0.07%||n/a|
|CVS Group (Aetna)||11.6%||$159.10||$107.29||4.0%||A|
|Mutual of Omaha||7.8%||$143.88||$97.85||3.0%||A+|
|Cigna Health Group||2.96%||$151.90||$110.95||n/a||A|
|Comparison of the top five companies with the largest market share in New Jersey. Quotes are the average monthly rate in NJ for a 65-year-old female nonsmoker. Rate increase history is the average over the last five years. Financial strength is based on AM Best ratings.|
There are ten standardized Medigap plans in New Jersey, all with the same coverage regardless of which company you choose. Also, most plans have no networks so you can visit any provider that accepts Original Medicare. To make choosing an insurance company easier, compare apples to apples by looking at their costs and policyholder satisfaction ratings.
How Much Does a Medigap Plan Cost in New Jersey?
Premiums for a New Jersey Medicare Supplement plan can cost as little as $57 or as high as $305 depending on your age and the level of coverage you choose.
|Medigap Plan||Monthly Cost||Plan Popularity in New Jersey|
|High Deductible G||$50.87||15%|
|The top five companies with the largest market share in New Jersey, compared. The quotes are the average monthly rate in New Jersey for a 65-year-old female nonsmoker. Rate increase history is the average over the last five years. Financial strength is based on AM Best ratings.|
How Does Age Affect Prices?
There are three ways companies determine Medigap rates:
- Based on your age. As you get older, the premiums go up. Although they may look less expensive when you are younger, they may become the most expensive as you age.
- Based on your age when you buy the Medigap plan. The premium rate does not increase as you age.
- Not based on age. The rate is the same for everyone, regardless of age.
Both issue-age and community rated premiums may increase in cost over time because of external factors such as inflation, but they will not increase because of a person’s age.
With extensive experience assisting Medicare beneficiaries, we understand that there is no “ideal” New Jersey Medicare Supplement Plan. Our primary question will be whether you are new to Medicare Part A and B? If so, this will negate the need for medical underwriting – which can differ by company. Then, we identify your location, age, and smoker status; this allows us to locate the most affordable option; next, we consider your budget in order to recommend a plan with optimal coverage at a reasonable price point.
When you are looking for health insurance, it is important to understand what your overall needs are. This will help you determine which Medicare Supplement Insurance plan is the best fit for you. We can help you with this process by providing some facts and information that will be helpful in making your decision.
After years in the industry and helping countless people find coverage, we have come to love Mutual of Omaha above the rest. Our clients who choose them often stay with them for a long time because they are simply that good.
When it comes to value and enrollment speed, Mutual of Omaha can’t be beat; They also have an excellent track record when it comes to paying claims quickly.
Frequently Asked Questions
When is the best time to enroll in a Medigap Plan?
Apply during your six-month Medigap open enrollment period. This one-time period automatically starts the month you turn 65 and enroll in Medicare Part B. You can buy any Medigap policy sold in New Jersey during this time, even if you have health problems.
You can still buy a policy after this enrollment period, but it may be more expensive because insurers will look at your health condition—including preexisting conditions—when underwriting the policy.
Check with your insurance agent to clarify deadlines and enrollment periods.
Is there a Medicare Supplement that covers everything?
If you became eligible for Medicare before Jan. 1, 2020, Plan F offers the most comprehensive coverage. If you become eligible after that date, Plan G typically provides more coverage than other options.
Ready To Learn More?
Choosing the right Medicare Plan is not a decision that should be taken lightly. With Policy Guide’s assistance, you will have access to the knowledge and expertise of professional agents who can help you compare different health plans, prices, and policies to ensure that you make an informed decision. Let us guide you through this process, so that your chosen plan best suits your needs.