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

If you are interested in obtaining a Medicare Supplement plan, you’ll need to learn more about 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. Medicare Supplement plans are portable nationwide so even if you purchased it here in Florida, you can take it with you anywhere in the United States, whether you are traveling or moving. 

What is the best Medicare Supplement plan in the New Jersey area that I live in?

Some background about Medicare Supplement or (Medigap) plans ought to be helpful.

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

When you buy a Medicare Supplement plan, 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 monthly until you wither cancel it or lapse payment. The, vast majority of Medicare Supplement policyholders utilize the easy automatic bank draft option for payments. This way, if you’re traveling or ill, you won’t have to worry about that particular bill. 

Is the best Medicare Supplement plan right for you?

Ultimately, you are the 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 Medicare Supplement plan may be a good choice.

  • You are enrolled in Medicare Part A and Part B and visit numerous providers and or facilities. 
  • You want the security of knowing you’ll have help with the wide range of medical expenses that      Medicare Part A and Part B don’t completely cover.
  • You like the flexibility of choosing any doctor or hospital in New Jersey that accepts Medicare, or when you’re 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 medical facility that accepts Medicare.

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

Medicare Supplement plans are standardized nationwide, and they help cover a wide range of medical 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 private Medicare Supplement policy (and you still continue to pay your Medicare Part B (government premium) as well). Medicare Supplement plan premiums do vary from one insurance company to another as well as 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 in New Jersey may be best for you include:

  • 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 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 best Medicare Supplement insurance and other Medicare plan options in New Jersey, we’re here to help. Call us at 1-800-821-7535