Many New Jersey Medicare beneficiaries will need Medicare Supplemental Health Insurance plans to pay for expenses and services not covered by Original Medicare. Original Medicare is a federally funded health insurance program for New Jersey residents 65 or older and includes two parts, Part A (Hospital Insurance) and Part B (Medical Insurance).
Medicare Supplement Insurance plans are sold by private insurance companies to New Jersey Medicare beneficiaries to fill the gaps in Original Medicare. New Jersey Medicare Supplement plans help pay for expenses such as coinsurance, deductibles, and copayments.
Medicare Health Insurance Providers
How do I choose the New Jersey Medicare health plan that's right for me?
Before you decide to buy a New Jersey Medigap plan, you should determine the services you may want in order to choose the right plan for your health insurance needs. Some options to explore include:
- Annual deductible
- Monthly premium
- Skilled Nursing Coinsurance
- Prescription Drug Coverage
- Foreign Travel Emergency
- At Home Recovery
Medicare Health Insurance Plans
Medicare is classified into four different categories.
- Medicare Part A: Part A covers Hospital Insurance and gives financial assistance for inpatient care. Part A also partially covers skilled nurses, hospice, and home health care under certain conditions.
- Medicare Part B: Part B covers necessary medical services such as outpatient care and doctor services. Some preventative care is also covered to maintain your healthy status and minimize the chances that other illnesses might become more severe.
- Medicare Part C: Part C is a Medicare Advantage Plan. It combines Part A and Part B and in some instances, it also combines Part D. Medicare Part C plans are privately managed by insurance companies approved by Medicare. The plans cover necessary medical services, although, these plans have co-payments, coinsurance, and deductibles that can vary.
- Medicare Part D: Part D provides assistance covering prescription drugs. The coverage will vary depending on the plan, but it may help lower your prescription drug costs and help prevent high costs in the future.
Where can I read about New Jersey Medicare?