Understanding Medicare Supplement Insurance Plans in New Jersey

Copayments, coinsurance and deductibles are some of the gaps in coverage left by Medicare Parts A and B. A Medicare Supplement Insurance plan, also known as Medigap, can help address these out-of-pocket costs. New Jersey Medicare Supplement Insurance plans are available from private insurance companies throughout the state.

In 2023, New Jersey residents have many Medigap or Medicare Supplement Insurance plans to choose from. These include basic benefits in Plans A, B, D, G, K, L, M and N. Medigap Plans C, E, F, H, I and J are no longer available to those who are newly eligible to Medicare, but those already enrolled in these plans are grandfathered in.

As of January 1, 2020, Medicare Supplement Insurance plans no longer sell Medigap Plans C or F to newly eligible Medicare members. Anyone enrolled in a Medigap Plan C or F on or before December 31, 2019 has been grandfathered in and will be able to continue to use their plan as long as their premiums are paid.

New Jersey residents looking for a Medicare Supplement Insurance plan should first look at their specific coverage needs to determine what Medigap plan might be right for them.

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Most Popular Medicare Supplement Insurance Plans in New Jersey

Government-approved Medicare Supplement Insurance plans protect residents in most states, including New Jersey. The statistics below offer a view of the most popular Medigap plans selected by New Jersey residents. Insurance companies that offer Medigap Insurance plans offer the same basic benefits, but those plans may come at different prices depending on where you live and the carrier. Each insurer may not offer each of the available Medigap plans.

As reported by America’s Health Insurance Plans (AHIP), 496,040 New Jersey beneficiaries had Medigap coverage in 2021. Below is the breakdown of the number of New Jersey enrollees by Medigap plan type

Plan	A	B	C	D	E	F	G	H	I	J	K	L	M	N
Enrollment #	4,711	1,921	43,312	4,619	296	171,779	142,572	1,864	5,699	21,018	2,935	2,576	6	90,037

Source: AHIP (2021)

While a Medigap policy will help pay for things like copayments, coinsurance and deductibles not covered by Medicare Parts A and B, it is important to note that your New Jersey Medicare Supplement Insurance plan will not cover benefits for prescription drugs. However, you can buy an additional Medicare Prescription Drug plan or consider a Medicare Advantage plan.

Learn more about your Medicare Supplement Insurance plan options in New Jersey by working with a SelectQuote licensed insurance agent. Acting as your advocate, our team can guide you through the Medicare maze to better understand Medigap plan options and answer any questions you may have throughout the process. SelectQuote individually shops more than 20 national insurance companies to help you compare Medicare plans in New Jersey.

New Jersey residents cannot be enrolled in a Medicare Supplement (Medigap) Insurance plan and a Medicare Advantage plan at the same time. A Medigap plan can also not be used to pay for any expenses for a Medicare Advantage plan.

When is the New Jersey Medicare Supplement Plan Enrollment Period?

Initial enrollment timeframes are very important. Enrollment for New Jersey Medicare Supplement Insurance plans begins the first day of the month you turn 65 years old. You also must be enrolled in both Medicare Parts A and B in order to obtain coverage from a Medigap plan.

New Jersey residents have a six-month period surrounding their birth month to buy a Medicare Supplement Insurance plan. New Jersey residents under the age of 65 can check with the Social Security Administration office for additional enrollment periods.

The best time to enroll in a Medicare Supplement Insurance plan is during the initial six months you are eligible for Medicare. You might be surprised to hear that enrollment can begin as early as 64 and 6 months. During this important six-month period, companies that offer Medicare Supplement Insurance plans cannot use underwriting. If you apply for Medicare Supplement Insurance outside of this timeframe, you will be subject to a physical exam. If you apply for Medigap coverage after the first six months of eligibility, a company can refuse to sell you a plan or may adjust your premiums depending on your current health status and pre-existing health conditions.

Is a New Jersey Medicare Supplement Insurance Plan Right for You?

SelectQuote can help ensure you receive all the benefits available to you. Our licensed insurance agents can also help you stay current with annual updates to Medicare plans made by insurance companies. As a trusted specialist in Medicare Insurance, SelectQuote is here to help you find the right New Jersey Medicare Supplement plan to meet your needs.

To ensure you are getting all the benefits you need, call to speak with a licensed insurance agent or complete your online form today. Let our team simplify the Medicare enrollment process by comparing rates and independently shopping insurance companies to help you find an affordable option that meets your unique needs.