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New Jersey Medicare Supplemental Insurance

New Jersey Medicare supplemental insurance is carefully and cleaverly designed to assist New Jersey seniors with gaps in their Medicare coverage, helping them pay premiums on services like extended hospital stays or outpatient procedures. If you live in New Jersey, choosing supplemental care allows you to enjoy your retirement, spending time at the beach or on trips to Atlantic City, NJ, rather than worrying that an unforeseen medical bill could cripple your finances. Even fit seniors can experience surprise medical issues, making New Jersey Medicare supplemental insurance a smart addition to your regular plan.

Understanding Medicare

The United States government introduced Medicare in the mid 1960s to help give seniors some level of medical coverage after retirement. Since the age to receive social security benefits has been raised for most people to age 67, New Jersey seniors can opt to keep their company coverage while supplementing employer insurance with Medicare hospital benefits, referred to as Plan A. Once seniors retire, or if their employer doesn't offer insurance, they can also enroll in Plan B, which includes outpatient hospital benefits, doctors' office visits and limited preventative care. A third plan, called Plan D, was introduced after Plans A and B to help cover prescription drugs.

Because the government only intended the federal program to provide a basic level of care, benefits of Plan A and Plan B do not extend to all treatments or expenses that New Jersey seniors might face. For this reason, many people on Medicare will need insurance to close that gap, whether they live in Paterson, NJ or Newark, NJ. Often, income isn't the issue, although people with lower incomes will have a more difficult time paying for Plan B premiums, which can exceed 20 percent of treatment or procedures. Simply put, New Jersey Medicare supplemental insurance is a necessity for many seniors who want to protect themselves against unforeseen medical problems.

Understanding Supplemental Care

For a predictable monthly fee, New Jersey Medicare supplemental insurance can safeguard you against medical catastrophes while helping you save money so you can maintain a good level of overall health with regular physicals, dental checkups, vision appointments and hearing tests. Neither Medicare nor supplemental insurance programs, often called Medigap policies, will cover these routine medical expenses, but opting for supplemental care can put more money in your pocket to help pay for routine health care.

New Jersey Medicare supplemental insurance programs are offered in 10 standardized plans, labeled Plan A through Plan N with some exceptions. In June 2010, Congress eliminated Plans E, H, I and J while adding M and N. An experienced insurance agent can help you understand each of these policies and determine which one is best for you. The biggest changes Congress recently introduced are the elimination of home recovery and preventive care from all plans, with the addition of a hospice benefit to Plans A through G. Since not all states offer all standardized programs, ask an agent about which ones New Jersey currently offers.

Supplemental Care vs. Advantage Plans

The difference between Senior Advantage Plans, sometimes known as Plan C, and New Jersey Medicare supplemental insurance, can be confusing since these plans are closely related. Senior Advantage Plans, like HMOs or PPOs, cover Plan A and B care. These plans can also sometimes include supplemental services like prescription drugs, dental care or dentures and vision appointments. Advantage plans involve a monthly premium and usually require out-of-pocket costs. These plans can also place restrictions on your care, like requiring you to get a referral before seeing a specialist.

When you choose a New Jersey Medicare supplemental insurance plan, you aren't introducing a new insurance provider; you're simply closing the gap between the costs you can cover with original coverage and your out-of-pocket expenses. As referenced above, benefits of standardized Medigap plans increase as they move down the alphabet. For example, Medigap Part A helps cover hospital stays, original Plan B coinsurance and up to three pints of blood. Plan N, on the other hand, offers additional coverage for preventative care co-payments, coinsurance for hospice care, skilled nursing care facilities and emergency coverage while you travel overseas. A New Jersey Medicare supplemental insurance agent can best explain the details of each plan.

New Jersey seniors should feel comfortable about retirement without concerns of paying for medical care. These expenses should not interfere with family time or simply time spent at the beach. Your golden years should be a time to travel, relax and enjoy life, not stress over medical referrals, hospital bills and the threat of a major medical emergency. Choosing a New Jersey Medicare supplemental insurance policy can help prepare you for major medical bills so you can enjoy your retirement.


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