AARP is offering a lot of supplemental plans for Medicare subscribers on through the next year. These plans can help many people reduce how much they are spending on medical bills each year. One of the most cost-effective plans being offered is AARP Medigap Plan N in 2016.
What makes plan N such a good deal for many Medicare subscribers? It couples some truly great coverage with very reasonable prices. It’s not as robust as some other plans in the coverage it offers, but it’s not as costly either. That makes it a great plan for people who need a lot of coverage but can’t afford some of the highest coverage plans out there. Or for people who are relatively healthy and don’t visit their doctor often.
Those who are currently on a Medicare Advantage plan and wishing to switch back to Original Medicare will find Plan N to likely be a great choice due to some cost sharing items like co-payments and deductibles.
So what does Plan N cover exactly? It pays the 20% coinsurance for Part B after you meet the deductible, the deductible for Part A, skilled nursing care for those who require it, some more blood (as much as three pints a year), 80% of the cost of foreign travel expenses for emergency medical care and Part A coinsurance.
A unique feature of Plan N that’s different from other plans is the co-pay aspect. On Plan N you might get up to a $20 co-pay for doctor’s visits after you meet the annual Part B deductible. As well if you visit the ER on Plan N and you’re not admitted to the hospital you’ll need to meet a $50 co-pay for that visit.
This coverage can take care of the majority of most people’s medical bills, leaving them little to nothing to pay out of their own pockets. There are two supplemental items that Plan N does not cover, however. These are the deductible from Medicare Part B and the excess charges from the same.
AARP may be better known for its non-profit senior services. But it also provides many services that it charges for. This makes them no less valuable to its members. These insurance plans can be of great benefit to Medicare subscribers, offering them additional coverage beyond what original Medicare does.
Plan N may actually be a better plan for Medicare subscribers who have Plan F or G. It costs less than either of these plans but it provides slightly less coverage as well. The reduction in coverage may not be a problem for you if you don’t actually require it. You will simply have to look at what your coverage needs are when you consider choosing AARP Medigap Plan N in 2016.