Getting Medicare Supplement Coverage in New Jersey.  5 Important Tips.


bergen county New Jersey

Finding a Medicare Supplement Insurance plan that ideally fits your unique needs, is not easy.  However, if you want to ensure that your financial future is a stable one, nothing could be more important.

In the U.S., insurmountable medical bills is the number 1 reason individuals and families are drawn into bankruptcy.  You can go a long way toward preventing such a calamity by researching the nuances of Medicare, as well as the Medicare Supplement Insurance plan options that are available to you.  Such may be time consuming.  However, when it comes to financial peace of mind, it is time well spent.

We highlighted 5 tips that should help you acquire a quality Medicare Supplement plan in New Jersey.  Please keep in mind, the 5 tips outlined below, should only be considered a guideline.  These tips do not encompass every factor you should consider.  Of course, you should also consider issues of finance.

Please don't hesitate to call if you have any questions.  We are here to help.

Tip #1.  Do not delay

When it comes to supplement coverage (sometimes referred to as Medigap Plans), the sooner you start researching options, the better.  The first thing you will want to do is ensure that you are eligible to purchase a Medicare Supplement Plan.  To be eligible, you will need to be enrolled in both Part A, and Part B of Medicare.  If you are eligible, there is an initial enrollment period of seven months that begins 3 months before your 65th birthday.  This enrollment period is the ideal time to get your Medicare Supplement Policy in place.

Good to know:  Discuss health plans options with your doctor.  Go over your insurance company's list of covered prescription medications with your doctor.  Some medicines will cost you more than others.  If your doctor knows what's on your insurer's list, he can select the best medication for you at the lowest price.  Also, if your plan requires you to get a referral to a specialist, take your insurance plan's preferred-provider list to your primary-care appointment.  Your doctor can easily pick out the best specialist who participates in your plan.
Tip #2.  Understand your budget.

Currently, there are 10 different Medicare Supplement plans in the market.  These plans are standardized.  This means the plan benefits are the same - no matter which insurance company you purchase the plan from.  In other words, An F plan purchased from say Aetna Health and Life, provides the exact same level of benefits as a plan F purchased from Cigna, or AARP.  Even though the benefits are the same, the prices can vary significantly depending the insurance company that you choose to buy from.  Pricing can also vary dependent upon where you live.  For example, the price to purchase a Medicare Supplement plan A in Bergen County, may be different than the same exact plan A purchased in Essex County.  Whichever plan you choose, you will want to access whether or not the price of the plan will fit comfortably into your budget.

Tip #3.  Review the Medicare Supplement Plan types.

You will quickly discover that there are many healthplan options for you to choose from.  Medicare Supplement plans in New Jersey (and most other states), are designated by letters of the alphabet (A-N).  Each option provides coverage for a distinct level of incurred medical fees that would not be covered by Medicare.  These plans and their myriad of benefits can be confusing.  For clarification, please give us a call.

Interesting Fact:  Administrative costs currently make up a major chunk of healthcare spending in the U.S.  It takes up about 25 percent of total hospital spending and accounts for hundreds of billions of dollars in healthcare spending annually, The Commonwealth Fund reported.  The percentage of total hospital spending devoted to administration is highest in for-profit hospitals, followed by nonprofit hospitals, teaching hospitals and finally public hospitals.
4.  Avoid any health plan that is not specifically designed to complement Medicare.

There are a lot of plans out there.  Critical illness, short-term health insurance, long-term-care plans, and alternative healthcare sharing plans, to name a few.  They all can provide great value when utilized for a specific circumstance.  However, they are not to be used as a complement to Medicare.  Do not allow yourself to be "sold" such a plan as a solution to uncovered Medicare costs.

5.  Get in touch with a Medicare Supplement insurance specialist.

Contacting a Medicare Supplement Plan specialist is usually the best way to find out about the plan options that are available to you. is a brokerage that focuses on Medicare options.  We are licensed with all the major insurance carriers that offer Medigap plans.  Insurance carriers we work with include: Blue Cross Blue Shield, Humana, Mutual of Omaha, AARP, and more.



Get An Instant Insurance Quote Now.