Best Medicare Supplement Plans in New Jersey

Mutual of Omaha offers the best Medicare Supplement (Medigap) Plans in New Jersey. Their Plan G delivers the best rate at $143.88 per month, followed by the most competitive Plan N rates at 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 financially feasible options from companies with long-term financial stability. Contrary to popular belief, choosing a newer “no-name” company that offers lower rates initially may be an unwise decision; these insurance companies typically raise rates after the first year of membership. To save yourself both money and headaches in the future, choose a brand that has established a good reputation in the industry.

Best Plan G Rates: Mutual of Omaha

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Plan G Overview:

The benefits offered with Mutual of Omaha Medigap Plan G are vast. No referrals are required, and you have the freedom to pick any medical provider as long they participate in the Original Medicare network.

Plan G Helps Pay the Following:

• 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.

Best Plan N Rates: Mutual of Omaha

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Plan N Overview:

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.

Plan N Helps Pay the Following:

• 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.

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 an essential factor in determining the best Medicare Supplement company for you.  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. Also, every company has advantages and disadvantages based on their plan levels.

Company	Market Share	Plan G Cost	Plan N Cost	Rate Increase (Last 5 years)	Financial Strength
United Healthcare	47.66%	$142.51	$107.44	3.2%	A
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. Each plan letter will have a set list of benefits regardless of which company you choose. Also, most plans have no networks, so you can visit any provider that accepts Original Medicare. To make selecting an insurance company easier, look at their costs as well as their policyholder satisfaction ratings.

How Much Does a Medigap Plan Cost in New Jersey?

Monthly premiums for a New Jersey Medicare Supplement plan can cost as little as $57 or as much as $305, depending on your age and the level of coverage you choose.

Medigap Plan	Monthly Cost	Plan Popularity in New Jersey
Plan F	$171.92	60%
Plan G	$143.88	45%
Plan N	$97.84	25%
High Deductible G	$50.87	15%
Plan A	$109.04	8%
Plan K	$57.36	1%
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?

• Companies Determine Rates By:

  Attained-age

  • 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.

  Issue-age

  • Based on your age when you buy the Medigap plan. The premium rate does not increase as you age.

  Community-rated

  • Not based on age. The rate is the same for everyone, regardless of age.

  Note: 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.

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.

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; however, 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 were eligible for Medicare before Jan. 1, 2020, Plan F offers the most comprehensive coverage. However, Plan G typically provides more coverage than other options if you become eligible after that date.

Ready to Learn More?

Choosing the right Medicare plan is not a decision that should be taken lightly. With extensive experience assisting Medicare beneficiaries, we understand that there is no “ideal” New Jersey Medicare Supplement Plan. When you work with Policy Guide, 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.

Article Resources

• How Much Does a Medigap Plan Cost in New Jersey?
• How Does Age Affect Prices?