Key Takeaways
- 1Medigap helps cover costs Original Medicare doesn't pay
- 2Plans are standardized by letter (A, B, G, N, etc.)
- 3You can see any doctor who accepts Medicare
- 4New Jersey offers additional consumer protections
Delving into the world of Medicare can be overwhelming, but understanding Medicare Supplemental Insurance (Medigap) is essential for New Jersey seniors who want to minimize their healthcare costs. These plans provide valuable coverage that fills the gaps left by Original Medicare.
What Medigap Plans Cover
Medigap plans help pay for healthcare costs that Original Medicare doesn't cover, including the Part A hospital deductible, Part B coinsurance, and skilled nursing facility coinsurance.
- Part A hospital coinsurance and costs
- Part B copayments and coinsurance
- First 3 pints of blood
- Part A hospice care coinsurance
- Skilled nursing facility care coinsurance
- Foreign travel emergency coverage (in some plans)
Popular Medigap Plans in New Jersey
While there are 10 standardized Medigap plans (A, B, C, D, F, G, K, L, M, and N), the most popular options for New Jersey residents are typically Plan G and Plan N, which offer comprehensive coverage at competitive premiums.
Plan G
Plan G offers the most comprehensive coverage available to new enrollees. It covers all Original Medicare cost-sharing except the Part B deductible, which is $240 in 2024.
Plan N
Plan N offers lower premiums than Plan G but requires small copays for some doctor visits and emergency room visits that don't result in admission.
New Jersey Medigap Protections
New Jersey offers additional consumer protections for Medigap buyers. The state provides a 30-day free look period and guaranteed issue rights in certain circumstances beyond the federal requirements.
