Best Medicare Supplement Plans in New Jersey
Mutual of Omaha offers the best Medicare Supplement (Medigap) plans in New Jersey. In Somerset County, Plan G stands out with a competitive rate of $165.46 per month, while Bergen County residents can enjoy the most affordable Plan N rates at just $112.52 monthly.
More than 496,040 residents in New Jersey are currently benefiting from Medicare Supplement coverage. Notably, 29% of the population has chosen Medigap Plan G, while a slightly lower 18% have opted for Medigap Plan N.
In our quest to find the best Medicare Supplement plan in New Jersey, we meticulously evaluated financially viable options exclusively from companies boasting long-term financial stability.
It’s important to debunk the misconception that opting for a lesser-known, recently established company with lower initial rates is prudent.
Such insurance providers may unexpectedly increase their prices. To safeguard your finances and spare yourself from unnecessary headaches down the line, opting for a reputable brand that has established a commendable standing within the industry is advisable.
Best Plan G Rates: Mutual of Omaha
The benefits offered with Mutual of Omaha’s Medigap Plan G are comprehensive. No referrals are required; you can pick any medical provider as long they participate in the Original Medicare network.
Mutual of Omaha Medigap plans have many attractive features, including household discounts, access to the Mutually Well fitness program, fast underwriting, low monthly premiums, and high customer satisfaction rates.
- Original Medicare Part A deductible
- Part B coinsurance or copays
- Part B excess charges
- Foreign travel emergency care
- Other services such as hospice care, skilled nursing facilities, etc.
65: $143.88
70: $152.34
75: $176.67
65: $165.46
70: $175.19
75: $203.17
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 $25 copay 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
- Foreign travel medical emergency expenses
- Other services such as hospice care, skilled nursing facilities, etc.
65: $97.85
70: $109.30
75: $132.20
65: $112.52
70: $125.69
75: $152.03
What's the Best Medicare Supplement Company in New Jersey?
The best overall Medigap provider in New Jersey is Mutual of Omaha.
In general, Mutual of Omaha’s Medigap plans are among the most affordable in New Jersey. This is one of the main reasons it’s the most popular provider in our review process. However, the plan letter you are considering is essential in determining the best Medicare Supplement company for you.
There are ten standardized Medigap plans in New Jersey. Each plan letter will have a set list of benefits regardless of which company you choose. Furthermore, there may also be a high deductible Medigap option in some areas.
For example, you may notice that Plan N is less costly with one company, but Plan G might be more reasonably priced with another carrier. Every company has advantages and disadvantages based on their plan levels.
| Company | Market Share | Plan G Cost | Plan N Cost | Cost by County | Financial Strength |
| Mutual of Omaha | 7.07% | $165.46 | $112.52 | Monmouth | A+ |
| United Healthcare | 49.29% | $168.87 | $115.98 | Morris | A |
| BCBS of NJ | 18.05% | $159.10 | $117.72 | Mercer | n/a |
| CVS Group (Aetna) | 8.65% | $173.85 | $123.45 | Hunterdon | A |
| Cigna Health Group | 2.35% | $164.82 | $111.31 | Burlington | A |
Considering plan costs and policyholder satisfaction ratings can make selecting an insurance company easier.
How Much Does a Medigap Plan Cost in New Jersey?
Monthly premiums for a New Jersey Medicare Supplement plan can cost as little as $50 or as much as $305, depending on your age and the level of coverage you choose.
| Medigap Plan | Monthly Cost | Cost by County | Enrollment in New Jersey | ||
| Plan F | $200.34 | Union | 35% | ||
| Plan G | $164.82 | Hudson | 29% | ||
| Plan N | $111.31 | Gloucester | 18% | ||
| High Deductible G | $58.51 | Camden | 3% | ||
| Plan A | $134.32 | Cape May | 0.94% | ||
| Plan K | $70.96 | Sussex | 0.6% | ||
What Is the Medicare Supplement Open Enrollment Period?
During the Medicare Supplement Open Enrollment Period, which lasts six months, individuals can purchase a Medigap policy regardless of their health status. This enrollment period starts automatically when someone turns 65 or older and enrolls in Medicare Part B. Insurance companies are not allowed to use medical underwriting during this time.
As a result, they cannot deny the sale of any Medigap policy, charge higher rates based on health issues, or impose waiting periods for coverage limitations. We highly advise choosing your Medicare Supplement policy during this optimal time for enrollment.
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Bonus Tips
- Tobacco rates will not apply if you purchase Medigap during your Open Enrollment period. This allows individuals to obtain health insurance coverage without facing denials or higher premiums due to tobacco use.
- Tobacco rates also do not apply in guaranteed issue situations.
Does CMS Regulate Medigap Plans?
Medigap plans, also known as Medicare Supplement Insurance policies, are regulated by the Centers for Medicare & Medicaid Services (CMS). CMS provides guidelines and standards to which these plans must adhere, ensuring they provide standardized benefits and protect beneficiaries.
It’s important to note that while CMS oversees the overall program, each state has the authority to manage the sale and regulation of Medigap policies within their jurisdiction.
The Bottom Line
- After years in the industry and helping countless people find coverage, we have come to love Mutual of Omaha above the rest in New Jersey. Our clients who choose them often stay with them long-term; they are simply that good.
- Regarding value and enrollment speed, Mutual of Omaha can’t be beaten. They also have an excellent track record for paying claims quickly.
Choosing the right Medicare plan is a crucial decision. At Policy Guide, we have extensive experience assisting Medicare beneficiaries. We understand that New Jersey has no “perfect” Medicare Supplement plan. When you work with us, you gain access to the knowledge and expertise of our professional agents.
They will help you compare health plans, Medigap rates, and policy benefits, ensuring you are well-informed. Let us guide you through this process and find the plan that meets your needs.
Article Sources: Mutual of Omaha | Age Affecting Prices | Compare Plans | New Jersey Medigap Benefits | NJ AHIP
Frequently Asked Questions
- When is the best time to enroll in a Medigap plan in New Jersey?
- Is there a Medicare Supplement plan in New Jersey that covers everything?
- Who is the best Medicare Supplement provider in New Jersey?
