See New Jersey's top-rated Medicare Supplement Insurance companies, price comparisons and popular Medigap plan types.
Aug 12, 2024 Written by Alex Rosenberg Lead Writer Alex Rosenberg
Lead Writer | Medicare, health care, legislation
Alex Rosenberg is a NerdWallet writer focusing on Medicare and information technology. He has more than 10 years of experience researching and writing about health care, insurance, technology, data privacy and public policy. His research has supported lawmakers in the Wisconsin State Legislature as well as health systems and national health authorities in the U.S. and more than 10 other countries. He is based in Eau Claire, Wisconsin.
Assigning Editor Holly Carey
Assigning Editor | Medicare
Holly Carey joined NerdWallet in 2021 as an editor on the team responsible for expanding content to additional topics within personal finance. She currently leads the Medicare team. Previously, Holly wrote and edited content and developed digital media strategies as a public affairs officer for the U.S. Navy. She is based in Virginia Beach, Virginia.
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New Jersey has 1 million residents with Original Medicare [0]
Centers for Medicare & Medicaid Services . Medicare Monthly Enrollment: January 2024. Accessed May 9, 2024.
, and they have many Medicare Supplement Insurance options. NerdWallet scored companies based on pricing, complaint rates and more to find the best Medigap plans in New Jersey, and four Medicare Supplement Insurance companies earned top marks.
New Jersey residents with Medicare Part A and Part B can purchase Medicare Supplement Insurance , or Medigap, to help cover certain out-of-pocket expenses like copays, coinsurance and deductibles left over after Medicare pays for covered services. Nearly 500,000 people in New Jersey had Medigap coverage as of the end of 2022 [0]
National Association of Insurance Commissioners . 2022 Medicare Supplement Loss Ratios. Accessed May 9, 2024.
Here’s what you need to know about finding the best Medigap policy for you in New Jersey.
45+ Medicare companies and brands analyzed by our team of experts.
30+ years of combined experience covering Medicare and personal finance.
NerdWallet’s Medicare content, including articles, reviews and recommendations, is produced by a team of writers and editors who specialize in Medicare. Their work has appeared in The Associated Press, Washington Post, Nasdaq, MSN, MarketWatch, Yahoo! Finance and other national and regional media outlets. They have been cited in publications including Healthline, and appeared on NerdWallet's "Smart Money" podcast.
The federal government doesn’t calculate official star ratings for Medicare Supplement Insurance, so NerdWallet developed our own data-driven ratings. Below are companies in New Jersey that scored best on NerdWallet’s 2024 Medigap rubric. (See our ratings methodology for more on how we evaluate Medicare Supplement Insurance companies.)
5-star plans (NerdWallet rating) 4.5-star plans (NerdWallet rating) 4-star plans (NerdWallet rating)Here are the prices for Medigap Plan G and Plan N, the most popular plans available for new Medicare members, from companies in New Jersey that scored 4 stars or better on NerdWallet’s Medigap rubric.
The table below shows price estimates for a 65-year-old female nonsmoker in Newark, New Jersey, as filed with the Centers for Medicare & Medicaid Services [0]
Centers for Medicare & Medicaid Services . Find a Medigap Policy That Works For You. Accessed Aug 12, 2024.
. (Note: Some Medigap prices may be higher for males.)Plan G monthly premiums
Plan N monthly premiums
Mutual of Omaha
Lumico Life Insurance Company
For reference, here are the lowest premiums available from any company for the two plans in Newark, according to the Medicare plan finding tool:
Medigap Plan G : $139 per month. Medigap Plan N : $100 per month."Four Medicare Supplement Insurance companies in New Jersey scored at least 4 out of 5 stars on NerdWallet’s 2024 Medigap rubric: AARP/UnitedHealthcare, Cigna, Lumico and Mutual of Omaha. That’s based on our analysis of insurance companies' pricing, complaint rates, online quote availability and more."
Note: We can’t review every Medigap company, and a company not among our top rankings might be a great fit for you. It’s a good idea to do your research, compare multiple quotes and consider working with a licensed insurance agent for more personalized recommendations.
— Alex Rosenberg , lead writer covering Medicare
The government regulates Medigap plans, but private insurance companies sell them. Here are the five most popular Medicare Supplement Insurance companies in New Jersey as of the end of 2022 [0]
National Association of Insurance Commissioners . 2022 Medicare Supplement Loss Ratios. Accessed May 9, 2024.
Share of New Jersey Medigap members
5. Washington National Insurance Company
There are 10 standard Medigap plan types available in New Jersey (Plan C and Plan F aren’t available for new Medicare members). However, over 83% of Medigap members in New Jersey are in one of the three most popular types.
Here are New Jersey’s top three most popular Medicare Supplement Insurance plan types [0]
AHIP . The State of Medicare Supplement Coverage. Accessed May 9, 2024. 33% have Medigap Plan F — the most comprehensive coverage of any Medigap plan. 33% have Medigap Plan G — the highest-coverage option available to new Medicare members. 18% have Medigap Plan N — a plan with lower premiums but higher copays.Medigap Plan F isn’t available to Medicare beneficiaries who became eligible for Medicare on or after Jan. 1, 2020. Medigap Plan G is the most similar option available to all Medicare beneficiaries.
State Health Insurance Assistance Program (SHIP) : Provides free information and confidential counseling about Medicare and health insurance coverage issues for New Jersey residents.
New Jersey Division of Aging Services : Administers federal and state programs aimed at helping older adults in New Jersey continue to live in the community.
Aging and Disability Resource Connection : Provides information and help finding benefits and services for older New Jersey residents and their caregivers and families.
Because Medigap plans are standardized, you can get precisely the same Medicare benefits from any company offering the plan. So when you shop, keep these considerations in mind to find the best policy to fit your needs:
Is your preferred plan available? Health insurance companies don’t always sell every plan, so check who sells the plan you want to buy in your area.
What are the premiums? Prices for the same plan can vary between companies, so check to find the most competitive rates.
Will your premiums change over time? Most policies cost more as you age, but some companies offer policies that let you lock in a price when you sign up.
Are there extras? Medigap plans’ core benefits are standardized, but in certain cases, some companies include such perks as discount programs or gym memberships.
If you have additional questions about Medicare, visit Medicare.gov or call 800-MEDICARE (800-633-4227, TTY 877-486-2048).
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Alex is a NerdWallet writer focusing on Medicare and information technology. He has written about health, tech, and public policy for over 10 years. See full bio.
NerdWallet’s Medicare Supplement Insurance (Medigap) ratings are based on pricing, discounts, plan types offered, complaint data from the National Association of Insurance Commissioners, consumer experience, additional perks and benefits, and more. To calculate each health insurance company's rating, we adjusted the scores to a curved 5-point scale, rounded to the nearest half star.
NerdWallet reviewed 13 Medicare Supplement Insurance companies based on highest enrollment and greatest online search volume. At the national level, our scored reviews include companies covering about two-thirds of all Medigap beneficiaries. At the state level, our research includes at least one of the two largest Medigap insurance companies in 48 of the 50 states, plus Washington, D.C.
These ratings are a guide, but we encourage you to shop around and compare several insurance quotes to find the best coverage and rate for you. NerdWallet does not receive compensation for any reviews. Read our editorial guidelines and full ratings methodology for Medicare Supplement Insurance.
We examined complaints received by state insurance regulators and reported to the National Association of Insurance Commissioners. To assess how insurers compare to one another, the NAIC calculates a complaint index each year for each subsidiary, measuring its share of total complaints relative to its size, or share of total premiums in the industry. To evaluate a company’s complaint history, we calculated a similar index for each insurance company, weighted by market shares of each subsidiary. We score companies based on this index of how many complaints the company receives relative to its market share. NerdWallet conducts its data analysis and reaches conclusions independently and without the endorsement of the NAIC.
This roundup includes only insurance companies that sell Medicare Supplement Insurance in New Jersey.
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