Best Medicare Advantage Plans in New Jersey
Learn more about top companies, best plan types, price comparisons, and when to enroll in a New Jersey Medicare Advantage plan.
Medicare Advantage in New Jersey is one type of the Medicare coverage available for Medicare beneficiaries. Original Medicare includes Part A and Part B, whereas a Medicare Advantage plan is Part C.
Medicare Part C is becoming increasingly more popular than original Medicare year after year because it is an “all in one” alternative Medicare additional coverage. A Medicare Advantage plan is a bundled plan that includes the following:
– Medicare Part A – Hospital Insurance
– Medicare Part B – Medical Insurance
– Medicare Part D – Medicare Prescription Drug Coverage
– Medicare Advantage plans are specified as “MAPD” or Medicare Advantage Prescription Drug plans, they will include the Part D plan prescription benefits built into the plan.
– Certain plans include the following coverage options for things such as:
- Gym memberships
- Over the counter prescription allowances
- Meal delivery
- Transportation to medical appointments
Note: If you have End-Stage Renal Disease or disabilities you still qualify for a New Jersey Medicare Advantage plan. Even if you are under the age of 65 and have End-Stage Renal Disease, you will still qualify.
Top rated Medicare Advantage companies in New Jersey
Popular Medicare Advantage plan types in New Jersey
Best network freedom: Medicare Advantage PPO
PPO’s offer a larger network and no referrals for Medicare beneficiaries with their primary care physicians. Premiums for PPO plans range from $0 to $100 per month.
Best for lowest out-of-pocket: Medicare Advantage HMO Plan
HMO plans have premiums that are generally $0 per month and have lower out of pocket costs because it uses the HMO referral process.
Best for low income or health conditions: Medicare Advantage D-SNIP
Best for those on very limited income or have chronic health conditions. To help lower health care costs of copayments, coinsurance, your monthly premium, your Part B premium, etc., Medicare and Medicaid can be had together.
New Jersey Enrollment Facts
1. Number of people enrollment in Medicare Advantage in New Jersey: 518,295
2. Number enrolled by plan, specifically the 3 plans below:
Local HMO – 172,536
Local PPO – 158,229
Regional PPO – 2,650
3. Percentage of Medicare beneficiaries enrolled in Medicare Advantage in New Jersey: 32%
4. Number of people enrolled in Medicare Advantage nationwide: 29.5 million in 2022
5. Percentage of Medicare beneficiaries enrolled in Medicare Advantage nationwide: 42%
How much does Medicare Advantage in New Jersey cost?
Although most states have an HMO available with a $0 per month premium and PPOs with $0 per month premiums, it’s becoming increasingly more common for a PPO to have a premium.
In New Jersey, the average cost for a Medicare Advantage Prescription Drug Plan (MAPD) is about $27. Part D has average drug deductibles of $200.
The standard monthly Medicare Part B premium for 2022 is $170.10. The annual Part B deducible for 2022 is $233.
|Plan Type||Premium Range|
|PPO Plan||$0.00 to $27.00|
When can I enroll in a Medicare Advantage plan?
Joining a Medicare Advantage plan can only be done at three particular points in the year.
Initial Enrollment Period
When you first have Medicare eligibility (becoming 65), you may join Medicare Part A and Part B.
Open Enrollment Period/Annual Election Period (AEP)
This period is open from October 15th through December 7th every year. During this time, you can join or drop a plan but also make changes. Coverage starts January 1st of the new year as long as the plan is put through by December 7th.
Open Enrollment for Medicare Advantage
The OEP period goes from January 1st through March 31st every year. During this time, you can switch to another plan or to Original Medicare and also join a Medicare Supplement policy.
Special Enrollment Periods (SEP)
When certain events happen in your life, you can make changes to your Medicare Advantage and Medicare prescription drug coverage. These times include:
- Change of Address/Moving out of Service Area
- Loss of Current Coverage
- Opportunity to Get Other Coverage-Employer/TRICARE/VA/PACE
- Your Plan Changes Its Contract with Medicare
Other special considerations may include eligibility for both Medicare and Medicaid, qualification for Extra Help, enrollment to State Pharmaceutical Assistance Program, drop of a Medigap Policy, have a disability, or SNP (special needs).
5-star Special Enrollment Period
This star rating enrollment period can only be used once from December 8th through November 30th. Satisfaction surveys are used to rate plans and help you compare plans based on quality and performance. A 5-Star rating is the highest rating. For more information about 5-Star enrollment visit here.
Special Enrollment Periods if you get “Extra Help”
If you get extra benefits then special enrollment periods are available for the following:
– Eligibility for both Medicare and Medicaid
– Qualification for Extra Help
– Enrollment to State Pharmaceutical Assistance Program
New Jersey State Links
Ready to learn more?
We help educate Medicare beneficiaries on their Medicare Advantage options and help them go through the process of reviewing and comparing plans. We work with most of the nation’s top-rated Medicare Advantage carriers. Give us a call today, or request a quote online to learn more about plan options.