We hear this question all the time. There is no one size fits all when it comes to Medicare Supplement Plans in New Jersey. Every situation is unique, but there are a few major considerations that will lead you to the best Medigap plan for your specific needs.
Since Medigap Plan F is no longer available, the most popular plan is Medigap Plan G. Plan G covers all the costs that Medicare does not cover except the Part B deductible. Since Plan G has no co-pays, it works well for people that have several doctor’s office visits in year.
Medigap Plan N is also another great Medicare Supplement option, but again it depends on how often you go to the doctor. Medigap Plan N has the same Part B deductible, but also has up to $20 co-pays for office visits and $50 for the emergency room. Plan N will not cover any Medicare excess charges that may arise.
The difference in the New Jersey premiums between Medigap Plan G and N, at age 65, is approximately $25-$30 a month depending on the insurance company. When making the decision between these two Medigap Plans it is crucial to consider your long-term healthcare needs. If you decide to switch Medigap plans after your initial enrollment into Medicare, you will be subject to underwriting (except in New York and Connecticut). Your Medigap decision could be permanent.
Every individual’s healthcare needs are unique. When deciding on your Medigap coverage make sure you consider your current needs as well as the future.