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  How do I find the Cheapest Medicare Supplement plan in New Jersey?

If you’re approaching 65 or if you’re already older, you are probably starting to think or have been thinking about obtaining a Medicare Supplement plan or Medicare Supplement insurance. Make sure you understand what different plans cover so you can find a plan that may best meet your needs while living in New Jersey. Once you acquire a new Medicare Supplement plan, you’ll be able to use it anywhere nationwide and it’s fully portable if you relocate. 

What is a Medicare Supplement plan?

A little background about Medicare Supplement (also called Medigap) plans ought to be helpful.

Private insurance companies’ offer Medicare Supplement plans to help pay Medicare’s out-of-pocket costs. In New Jersey, different Medicare Supplement plans pay for different amounts of those costs, such as copayments, coinsurance, and deductibles.

When you purchase and start a Medicare Supplement plan in New Jersey, you pay a premium to the insurance company for your coverage. As long as you continue to pay your premium and have Medicare Part A and Part B, your Medicare Supplement plan will be automatically renewed each month. Most Medicare enrollees prefer the automatic payment option. This way, you don’t have to worry if your traveling or ill. 

Is the Cheapest Medicare Supplement plan right for you?

Ultimately, you are the best judge of the type of insurance that meets your personal needs and lifestyle.  However, if one or more of the following circumstances is true for you, a cheap Medicare Supplement plan may be a good choice.

  • You are enrolled in Medicare Part A and Part B and have many doctor visits or frequent      hospitalizations.
  • You want the security of knowing you’ll have help with many of the medical expenses that Medicare Part A and Part B don’t completely cover.
  • You like the flexibility of being able to choose any doctor or hospital in New Jersey that accepts      Medicare, possibly even when traveling throughout the United States.
  • You divide your time between two homes in different regions of the United States and you want to be able to receive treatment from any doctor or health facility that accepts Medicare.

How do I shop for the cheapest Medicare Supplement plan in New Jersey?

Each standardized Medicare Supplement plan helps cover a different range of certain Medicare costs. For example, some plans may cover 100% of the Medicare Part A deductible, some cover a portion of that deductible, and some plans don’t cover the deductible at all. Some plans cover emergency medical care when you’re traveling.

Keep in mind that you do pay a monthly premium with a Medicare Supplement policy (and you still continue to pay your Medicare Part B premium as well). Medicare Supplement plan premiums may vary by insurance company and among different plans. Generally speaking, the more coverage provided by the Medicare Supplement plan, the higher the premium.

Some things to consider, before making a decision about which Medicare Supplement plan may be the cheapest for you while live in the New Jersey area.

  • How much do I spend on health-care costs? Will the Medicare Supplement plan provide value or will the premium cost more than I currently spend on health care?
  • What do I spend my health-care dollars on? Which Medicare Supplement plan or plans provide      coverage for these medical services and supplies?  Will I also want to purchase insurance for items neither covered by Part A and Part B nor by Medicare Supplement plans, such as Medicare Part D Prescription Drug coverage?
  • How much can I afford to spend in premiums? Remember, you continue to pay separately your Medicare premium (for most people Part B premium), your Medicare Supplement plan      premium, and if you choose to add prescription drug coverage, your Medicare Part D Prescription Drug Plan premium.

If you want to learn more about the cheapest Medicare Supplement insurance and other Medicare plan options in your area of New Jersey, we can help and answer your questions.

Give us a call today at: 1-800-821-7535