Original Medicare to New Jersey Medicare Supplemental Insurance
Learn about Medicare Parts A, B, C and D before jumping right into Medicare Supplement insurance plans.
You will automatically be enrolled in Medicare Part A at age 65. This is Medicare’s basic hospitalization coverage. It also pays for a nursing facility after you have been in the hospital. Home health care is covered in addition to hospital care and most blood transfusions. You pay nothing out of pocket for Medicare Part A because it is deducted from your wages during the course of your working life.
Part B is mandatory, but if you do not enroll in it when you are getting close to age 65, you may be penalized in the monthly premium you pay for as long as you are enrolled in Part B. This only will happen if you are not enrolled is some sort of other health insurance plan. Part B pays for doctor’s visits, lab services, outpatient hospital procedures, injections, health screenings and other preventative medicine services.Part B does have a monthly premium that is based on your earnings.
Medicare Parts C & D
Part C, also called “Medicare Advantage,” replace Medicare Parts A & B. Once this happens original Medicare no longer pays 80%. The private ran Part C insurance company then picks up the 100% in full with a bunch of deductible, co-insurance and co-payments left to the consumer. These plans are good for those who are extremely healthy and hope to be this way forever. In many cases these plans are cheaper then New Jersey medicare Supplement plans but the bents are way less. As the old saying goes, you way for what you get.
Part D is prescription drug coverage. Depending upon your insurer, you may pay a deductible for this coverage. These plans can be pretty cheap depending on the types of Medications you are taking.
Get to Know Medicare Supplement Insurance in New Jersey
The New Jersey Medicare Supplemental coverage called “Medigap insurance” is another coverage that will pay where the other parts of Medicare A & B may not pay. There are 10 New Jersey Medicare Supplement insurance plans available, not saying that all carriers offer all 10 though. There policies can cover all or some of the deductibles co-pays, and co-insurance. You cannot have Part C at the same time as New Jersey Medicare Supplemental Insurance policy. The 10 Medicare Supplements are standard plans that cover a variety of charges not covered by Medicare.
Don’t get confused and bogged down, yes there are 10 New Jersey Medicare Supplement plans but there are only a few that many seniors choose from though. Those plans are F, G & N. These plans are vary popular due to the fact of what they cover for the premiums you pay. To get more information on these 3 plans and the other 7 please reach out to one of our advisors and they would be more then happy to help.
The most prudent thing to do before you reach age 65 or becoming Medicare eligible, is to carefully review all of New Jersey Medicare Supplemental Insurance policies, their premiums and deductibles. Then you can make an informed decision.