New Jersey Medicare Supplement Plans & Medigap are synonymous terms. They both refer to Medicare health insurance plans that feature low out-of-pocket costs, letting people choose hospitals and doctors, and allow their coverage to go with them anywhere in the country. It’s available when individuals turn 65, and are enrolled in Medicare Part B.
New Jersey Medicare Supplement Plans
New Jersey Medicare Supplemental insurance plans are standardized into ten plans, making them easy to compare benefits since they are the same per letter plan. In June of 2010, they were modernized to streamline underused benefits. The plans are labeled N, M, L, K, G, F, B, C, A and D with the most popular option being Medicare Supplement Plan G.
New Jersey Medicare Supplement Under 50 Plans
For New Jersey Medicare Supplement Under 50 Plans, the state offers Medicare Supplement Plan C. The rates will not be the same as those who are 65 or older. Some states offer plans for those under 50 and some offer a few or all plans to those under 65, but in New Jersey only one plan is available.
State of New Jersey Medicare Supplement Policies Enrollment Period
State of New Jersey Medicare Supplement policies Enrollment Period is after the 1st day of the month you’re enrolled in Original Medicare Part B and are at least 65 years of age. This is known as your Open Enrollment Period and last 6 months. When you enroll during the 6 month time frame you’re given guaranteed issue. This means that regardless of your age and/or health issues, you cannot be denied coverage or charged higher premiums. You can still apply outside this 6 month time period, but you won’t be given guaranteed issue.
New Jersey Medicare Supplement Regulations for Excess Charges
New Jersey Medicare Supplement Regulations state that a Medicare provider is not able to charge more than what Medicare allows. In these states, companies that accept Medicare are not allowed to enforce excess charges. Unfortunately, New Jersey is not included in that list. Because of this, New Jersey Medicare Supplement carriers are able to bill up to 15 percent of what the program allows directly to beneficiaries. Policyholders with Plans G and F, commonly referred to as Medicare Part F, have coverage for Part B excess charges.
Best Medicare Supplement Plans in New Jersey
The best Medicare Supplement plans in New Jersey are Plans G and F. A lot of seniors like Plan G as the only gap is the Part B deductible. Aside from that, it features the same benefits found in Plan B and A, it also provides coverage for health-related travel. A good percentage of New Jersey Medicare recipients are enrolled in this policy. People also like the high deductible Plan F, this coverage is quite popular as the premiums are very low compared to the majority of other Advantage and supplemental plans.