Best Medicare Supplement Plans in New Jersey 2024
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New Jersey has 1 million residents with Original Medicare, 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.
Here’s what you need to know about finding the best Medigap policy for you in New Jersey.
Why trust NerdWallet
Compare the best Medicare Supplement plans in New Jersey
Top-rated Medicare Supplement plans in New Jersey
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)
Medicare Supplement Insurance prices in New Jersey
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.
» MORE: Medigap Plan N vs. Plan G
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. (Note: Some Medigap prices may be higher for males.)
Insurance company | Plan G monthly premiums | Plan N monthly premiums |
|---|---|---|
Cigna | $148. | $100. |
Mutual of Omaha | $154. | $105. |
AARP/UnitedHealthcare | $156. | $106. |
Lumico Life Insurance Company | $168. | $134. |
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.
From our Nerds: Who offers the best Medicare Supplement plans in New Jersey?
"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
Largest Medicare Supplement Insurance companies in New Jersey
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:
Insurance company | Share of New Jersey Medigap members |
|---|---|
46.9%. | |
14%. | |
3. Aetna | 9.4%. |
7.1%. | |
5. Washington National Insurance Company | 3.4%. |
Most popular Medicare Supplement Insurance plan types in New Jersey
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:
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.
Medicare resources in New Jersey
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.
Find the right Medicare Supplement Insurance plan
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.
Medicare Supplement Insurance ratings methodology
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 15 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.
Insurer complaints methodology
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.
