Best Medicare Supplement Plans in New Jersey
ACE Insurance Company and Cigna Health Group offer the best Medicare Supplement (Medigap) plans in New Jersey.
In Somerset County, ACE’s Plan G stands out with a competitive rate of $162.58 per month, while Bergen County residents can access the most affordable Plan N rates with Cigna at just $114.65 monthly.
ACE and Cigna offer guaranteed renewable Medigap plans in New Jersey. Both companies have outstanding financial ratings and offer attractive household discounts, making them an exceptional option for individuals seeking comprehensive coverage.
More than 496,040 residents in New Jersey are currently benefiting from Medicare Supplement coverage. Notably, 29% of the population has chosen Medigap Plan G, while a slightly lower 18% have opted for Medigap Plan N.
- $162.58 per month
- Cheaper premiums compared to other providers
- 7% discount for eligible household members
- No network restrictions
- $114.65 per month
- Discount of up to 25%
- Access to the Healthy Rewards program
- User-friendly online portal
Over the years, we’ve worked with many reputable insurance companies and rely on them for our Medigap clients.
In New Jersey, ACE and Cigna stand out as top Medigap providers due to their affordability and financial stability. However, the best company for you depends on the specific plan letter you choose.
With ten standardized Medigap plans in New Jersey, benefits remain the same across providers, though pricing varies. For example, one company may offer a lower-cost Plan N, while another has a better-priced Plan G. Each provider has strengths and weaknesses depending on the plan.
Let’s take a closer look at the features of each plan.
Best Plan G Rates: ACE
The benefits offered with Plan G with ACE are comprehensive. No referrals are required; you can pick any medical provider as long they participate in the Original Medicare network.
ACE’s Medigap plans have many attractive features, including household discounts, fast underwriting, and high customer satisfaction rates.
- Original Medicare Part A deductible
- Part B coinsurance or copays
- Part B excess charges
- Foreign travel emergency care
- Other services such as hospice care, skilled nursing facilities, etc.
65: $144.58
70: $147.33
75: $174.92
68: $162.58
70: $165.67
75: $196.83
Best Plan N Rates: Cigna
Medigap Plan N from Cigna allows you to visit any doctor that accepts Original Medicare. Your benefits are set each year if you choose this plan, and it has a $25 copay for office visits and a $50 copay for ER visits.
Cigna also provides convenient options to bundle dental, vision, or hearing coverage for an additional monthly premium as low as $32.
- Original Medicare Part A and B coinsurance
- Part A deductible
- Emergency care
- Foreign travel medical emergency expenses
- Other services such as hospice care, skilled nursing facilities, etc.
65: $99.70
70: $110.05
75: $130.70
68: $120.45
70: $126.55
75: $150.30
Cost Comparison of Medigap Plans in New Jersey
When evaluating Medicare Supplement (Medigap) plans in New Jersey, it’s essential to compare the monthly premiums across the different standardized plans.
Below is a chart summarizing the available plans and their respective premium ranges:
| Medigap Plan | Monthly Premium Range |
|---|---|
| Plan A | $103 – $284 |
| Plan B | $139 – $391 |
| Plan C | $163 – $515 |
| Plan D | $126 – $384 |
| Plan F | $154 – $466 |
| Plan G | $127 – $453 |
| Plan K | $50 – $150 |
| Plan L | $80 – $220 |
| Plan M | $93 – $254 |
| Plan N | $98 – $348 |
Note: Plan F is only available to individuals eligible for Medicare before January 1, 2020.
These premium ranges are based on data from various insurance providers in New Jersey and are for sample purposes only.
It’s important to note that premiums vary based on location, age, gender, and tobacco use. Additionally, some providers may offer discounts or additional benefits.
Therefore, comparing multiple insurance companies to obtain personalized quotes tailored to your specific circumstances is highly recommended.
By comparing the different plans and their associated costs, you can select the Medigap plan that best aligns with your healthcare needs and financial situation.
Plan G vs. Plan N: Which is Right for You?
When choosing between Medigap Plan G and Medigap Plan N, it’s crucial to understand the differences in coverage, cost, and out-of-pocket expenses.
Coverage Differences
- Plan G: Covers everything that Plan F does except for the Medicare Part B deductible ($240 in 2024). This means it provides comprehensive coverage with minimal out-of-pocket expenses.
- Plan N: Covers the same benefits as Plan G except for Part B excess charges and requires copays for doctor visits ($20) and emergency room visits ($50).
Cost Comparison
- Plan G typically has higher monthly premiums than Plan N but offers more predictable healthcare costs.
- Plan N generally has lower premiums but requires some out-of-pocket expenses for copays and potential excess charges if you see a provider who does not accept Medicare assignment.
Out-of-Pocket Expenses
- With Plan G, the only out-of-pocket cost is the Part B deductible, with no additional copays or excess charges.
- With Plan N, you’ll pay $20 for doctor visits, $50 for emergency visits, and any Part B excess charges (if applicable).
Which Plan is Best for You?
- Choose Plan G if you prefer predictable costs and comprehensive coverage without worrying about copays or excess charges.
- Choose Plan N if you’re comfortable with occasional copays and want a lower monthly premium while still having strong coverage.
Both plans are great options, but your choice should be based on your healthcare needs, financial situation, and whether your doctors accept Medicare assignment.
Comparing quotes from different insurance providers can help determine which plan best fits you.
Which Medigap Plan Should I Pick?
When selecting a Medigap plan, it’s important not to get overwhelmed by all the available options. Instead, most people opt for the most comprehensive plan, which you can see below: Medigap Plan G.
- Plan G is the most popular and comprehensive Medigap plan, with approximately 5.3 million enrollees, or 39% of all Medigap policyholders.
- Plan N ranks second, with about 1.5 million enrollees, appealing to those who want lower monthly premiums but are comfortable with some out-of-pocket expenses.
- High Deductible Plan G is third, with over 800,000 enrollees, offering a low-premium alternative with higher out-of-pocket costs before full coverage kicks in.
With the majority of enrollees choosing Plan G, it remains the best choice for most beneficiaries looking for financial security and broad coverage.
Medigap vs. Medicare Advantage: Which is Better in New Jersey?
Why Medigap is Superior to Medicare Advantage
Medigap provides superior coverage compared to Medicare Advantage, especially for those who want greater flexibility and fewer out-of-pocket expenses. Here’s why Medigap is the better choice:
- Freedom to Choose Any Doctor
Medigap allows you to see any doctor or specialist who accepts Medicare without network restrictions.
- No Referrals Required
Unlike Medicare Advantage, Medigap does not require referrals to see specialists.
- Lower Out-of-Pocket Costs
Medigap minimizes out-of-pocket expenses, while Medicare Advantage plans often have high copays and deductibles.
- Nationwide Coverage
Medigap works anywhere in the U.S., whereas Medicare Advantage plans have regional restrictions.
- No Surprise Medical Bills
Medigap covers costs upfront, while Medicare Advantage plans often have hidden expenses and high maximum out-of-pocket limits.
Cost Comparison: Medigap vs. Medicare Advantage
| Service | Medigap Plan G/N | Medicare Advantage |
| Doctor Visits | $0 (after deductible for Plan G) / $20 copay (Plan N) | $20-$50 per visit |
| ER Visits | $0 (Plan G) / $50 copay (Plan N) | $90-$150 per visit |
| Hospital Stays | $0 (Medigap covers all Part A costs) | $350+ per day for the first 5-7 days |
| Outpatient Testing | $0 (after deductible for Plan G) | 20%-40% coinsurance per test |
| Surgery | $0 (after deductible for Plan G) | 20%-40% coinsurance varies by plan |
| Annual Out-of-Pocket Limit | No limit (Medigap covers all costs after deductible) | $4,000-$8,000, varies by plan |
Medigap Wins
Medigap is the superior choice for those who want the best possible coverage with fewer financial surprises. Medicare Advantage may seem attractive with its lower upfront premiums.
Still, the higher out-of-pocket costs, network restrictions, and limited coverage make Medigap a much better option for long-term healthcare security.
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Bonus Tips
- Tobacco rates will not apply if you purchase Medigap during your Open Enrollment period. This allows individuals to obtain health insurance coverage without facing denials or higher premiums due to tobacco use.
- Tobacco rates also do not apply in guaranteed issue situations.
How Often Do Medigap Rates Increase?
When Can I Enroll in a Medigap Plan?
During the Medicare Supplement Open Enrollment Period, which lasts six months, individuals can purchase a Medigap policy regardless of their health status. This enrollment period starts automatically when someone turns 65 or older and enrolls in Medicare Part B. Insurance companies are not allowed to use medical underwriting during this time.
As a result, they cannot deny the sale of any Medigap policy, charge higher rates based on health issues, or impose waiting periods for coverage limitations. We highly advise choosing your Medicare Supplement policy during this optimal time for enrollment.
The Bottom Line
- After years in the industry and helping countless people find coverage, we have come to love ACE and Cigna above the rest in New Jersey. Our clients who choose them often stay with them long-term; they are simply that good.
- Regarding value and enrollment speed, ACE and Cigna can’t be beaten. They also have an excellent track record for paying claims quickly.
Choosing the right Medicare plan is a crucial decision. At Policy Guide, we have extensive experience assisting Medicare beneficiaries. We understand that New Jersey has no “perfect” Medicare Supplement plan. When you work with us, you gain access to the knowledge and expertise of our professional agents.
They will help you compare health plans, Medigap rates, and policy benefits, ensuring you are well-informed. Let us guide you through this process and find the plan that meets your needs.
Article Sources: Cigna | Age Affecting Prices | Compare Plans | New Jersey Medigap Benefits | NJ AHIP
Frequently Asked Questions
- When is the best time to enroll in a Medigap plan in New Jersey?
- Is there a Medicare Supplement plan in New Jersey that covers everything?
- Who is the best Medicare Supplement provider in New Jersey?
