by Russell Noga | Updated December 14th, 2023
Medicare Plan N Reviews
Are you considering Medicare Plan N, but unsure if it’s the right choice for you? In this blog post, we’ll explore the ins and outs of this popular plan, discuss its pros and cons, and provide a comprehensive review of top insurance providers offering Plan N.
We’ll also delve into Medicare Plan N reviews to give you a better understanding of this option. We’ll guide you through assessing your healthcare needs and comparing insurance providers to find the best fit for you. Let’s dive in!
- Medicare Plan N is a popular and standardized supplemental coverage plan with pros and cons to consider.
- It offers potential cost savings but also imposes copayments for physician visits and emergency room visits, as well as a Part A deductible of $1,600 per benefit period.
- Enrollment in Medicare Plan N can be done at specific times during the year depending on your current situation
- Medicare Plan N offers lower premiums than Medicare Plan G
Understanding Medicare Plan N
Medicare Plan N is a popular choice among the ten standardized Medicare supplement coverage plans offered by private insurance companies.
It provides additional coverage to Medicare beneficiaries, covering deductibles and copays that are left as the patients’ responsibility by Original Medicare Parts A & B. In fact, Plan N is the third most prevalent plan overall and the second most prevalent plan for new enrollees.
When enrolled in Medicare Plan N, you must pay your Medicare Part B deductible. Additionally, there are modest copays applicable to physician visits and any excess charges associated with your particular case.
The benefits of Medigap Plan N are standardized across the US, regardless of the insurance carrier, making it easy to compare offerings from different insurance companies.
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Pros and Cons of Medicare Plan N
Plan N offers a satisfactory level of coverage at a reasonable premium, making it a beneficial policy for many individuals. Premiums for Medigap Plan N have been on the rise over the past five years.
Percentage-wise, the increase has ranged between 2% and 4%. However, it imposes copays for physician visits and trips to ERs that do not result in hospitalization, which may be costly for those who utilize healthcare services frequently. The typical expense of Medicare Plan N is $152 per month.
Indeed, if you do not frequently visit the doctor and anticipate infrequent visits to the ER, Plan N may be a suitable, cost-effective option for your requirements. To determine if Plan N is the most suitable choice for you, beneficiaries should evaluate the potential cost savings and out-of-pocket expenses linked to Plan N.
Potential Cost Savings
The lower monthly premiums of Plan N compared to other Medigap plans make it an attractive option for those seeking cost savings.
The precise cost savings depend on your individual medical requirements and the frequency of certain medical visits.
By evaluating the costs and benefits of different plans, you can determine which one is most suitable for you.
While Plan N offers lower premiums, it does impose copayment amounts for physician visits and emergency room visits that do not lead to hospitalization.
The copayment amounts for Plan N are $20 for each physician visit and $50 for each emergency room visit that does not result in hospitalization.
In addition, the Part A deductible for Medicare Plan N in 2023 is $1,600 per benefit period, as per current regulations.
The maximum out-of-pocket for Plan N is equivalent to the sum of the Medicare Part B deductible and the office visit copays accumulated throughout the year.
Top Insurance Providers Offering Medicare Plan N
Aetna, Cigna, and Mutual of Omaha are the top insurance providers offering Medicare Plan N. These companies are known for their comprehensive offerings and customer service.
In the following subsections, we’ll delve deeper into each provider’s Plan N offerings, including coverage, costs, customer service, and more.
Aetna Plan N
Aetna’s Medicare Supplement Plan N provides coverage alongside Original Medicare (Parts A and B) and helps to restrict yearly out-of-pocket expenses.
The plan necessitates a $20 copayment for office visits and a $50 copayment for emergency room visits that do not result in hospitalization. Additionally, the AARP Medicare Supplement Plan offers similar benefits to those seeking supplemental coverage.
Aetna’s Medicare Supplement product scored a 1.57 on the customer complaint index according to the National Association of Insurance Commissioners, indicating a relatively low number of complaints compared to other providers.
Cigna Plan N
Cigna Plan N is a Medicare Supplement Plan that provides coverage for certain expenses not covered by Original Medicare. Cigna offers four Medigap policies – A, F, G, and N – in 46 states.
However, it’s worth noting that Cigna’s rates are generally higher than those of other competing companies.
As part of its supplemental plan coverage, Cigna provides a rewards program, offering discounts on health and wellness programs and services.
Mutual of Omaha Plan N
Mutual of Omaha Plan N is a Medicare Supplement (Medigap) plan that covers a percentage of any medical benefit that Original Medicare covers, excluding the outpatient deductible.
It encompasses the benefits of Medicare Supplement Plans A, B, and C, with the exception of the Medicare Part B deductible.
The rates for Mutual of Omaha Plan N may differ depending on the state and the age of the enrollee. The customer satisfaction rate for Mutual of Omaha Plan N is generally high, with customers indicating that they are pleased with the coverage and rates.
How to Choose the Right Plan N
To select the correct Medicare Plan N, you must adhere to several steps, including:
- Determining the plan you require
- Choosing your policy based on your requirements and preferences
- Comparing the advantages provided by different Medigap policies
- Taking into account the cost of the plan
It’s crucial to bear in mind your specific healthcare needs and budget when selecting the right Medicare Plan N.
In the following subsections, we’ll provide guidance on assessing your healthcare needs, comparing insurance providers, and understanding covered services.
Assessing Your Healthcare Needs
In order to ascertain your healthcare needs, it is necessary to evaluate your particular health and healthcare requirements.
A health needs assessment is a systematic process of identifying unmet health and healthcare needs of a population, involving gathering information through surveys, and interviews, and utilizing prior data to comprehend the health requirements of individuals or communities.
Considering personal healthcare requirements when selecting a Medicare Supplement Plan is essential for guaranteeing that the coverage, including the Medicare Supplement Insurance Plan, adequately satisfies your requirements.
Comparing Insurance Providers
When comparing insurance providers and their Plan N offerings, it’s crucial to evaluate the coverage provided by each plan, including the services covered, the copayments and coinsurance amounts, and any additional benefits that may be included.
You may search online for reviews of the plans, inquire with friends and family who have utilized the plans, or consult with an insurance agent who can supply you with details regarding the various plans and assist you in making an informed decision.
By evaluating different insurance companies and their Plan N offerings, you can find the best match for your healthcare needs and budget.
Enrollment and Eligibility for Medicare Plan N
Enrollment and eligibility for Medicare Supplement Plan N are subject to the open enrollment period and possibly medical underwriting requirements. Understanding these factors is essential in ensuring a smooth enrollment process and obtaining the coverage that best fits your needs.
In the following subsections, we’ll discuss the open enrollment period and medical underwriting requirements for enrolling in a high-deductible Medicare Plan N.
6-Month Medigap Open Enrollment Period
The optimal period to enroll in Medicare Plan N is within the initial six months of Medicare Part B coverage. During this time, you can enroll in Medicare Supplement Plan N without having to answer health-related questions.
However, if you attempt to enroll after this period, you may be subject to medical underwriting requirements, which could impact your eligibility for coverage.
Medical underwriting is the process of:
- Assessing an individual’s health status
- Determining their eligibility for coverage outside of the open enrollment period
- Analyzing the applicant’s medical history to assess their eligibility for health insurance coverage.
If you enroll in a Medicare Supplement plan outside of the open enrollment period, you may be required to undergo underwriting, and the carrier may reject your application based on their own underwriting guidelines.
Alternatives to Medicare Plan N
If you’re considering Medicare Plan N, it’s important to explore alternative options as well. Medicare Plan G is also a potential alternative for those looking for different coverage options.
Below we’ll provide an overview of Medicare Plan G benefits, and you can also compare examples of the premiums for both Plan N and Plan G using our website.
Medicare Plan G
Medicare Plan G is a popular Medicare plan that offers more comprehensive coverage than Plan N, but at a higher monthly premium.
It covers a portion of any medical benefit that Original Medicare covers, excluding the outpatient deductible. For those seeking an alternative option, consider the high deductible Plan G.
Plan G provides a more extensive coverage than Plan N, making it an attractive alternative for those who require more comprehensive coverage or those who visit the doctor more frequently.
In conclusion, Medicare Plan N is a popular and comprehensive supplemental insurance plan that offers a balance between coverage and cost.
However, it’s crucial to assess your healthcare needs, compare insurance providers, and consider alternative options such as Medicare Plan G and Medicare Advantage Plans to find the best fit for you. By taking the time to thoroughly research and evaluate your options, you can make an informed decision that will provide you with the coverage you need at a price you can afford.
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Frequently Asked Questions
What are the disadvantages of Plan N?
Plan N does not offer coverage for Part B excess charges, foreign travel exchange and out-of-pocket costs, making it an unsuitable option for those seeking comprehensive coverage.
What is the deductible for Plan N in 2023?
For 2023, Plan N has a deductible cost of $226 per year. This plan does not cover Part B excess charges, but can be avoided by using healthcare providers who accept Medicare assignment.
What does a Medicare Supplement Plan N cover?
Medicare Supplement Plan N provides more comprehensive coverage than Plans K and L, including 100% of Medicare Part B coinsurance and copayments and the Medicare Part A deductible of $1,600, as well as coinsurance for Parts A and B, three pints of blood, and 80% of medical costs incurred during foreign travel.
This plan is a great option for those who want more comprehensive coverage than what is offered by Plans K and L, but don’t want to pay for the higher premiums associated with Plan F. It is also a good choice for those who travel abroad frequently and want to be covered for medical costs incurred while abroad.
How does the cost of Medicare Plan N compare to other Medigap plans?
Plan N has lower monthly premiums than other Medigap plans, but may come with higher copays for certain medical services, making it a cost-effective option.
It is important to consider the copays when deciding which plan is best for you. Make sure to compare the copays for each plan to determine which one is the most cost-effective for your needs.
What are the top insurance providers offering Medicare Plan N?
Aetna, Cigna, Allstate, and Mutual of Omaha are just some of the providers offering Medicare Plan N.
Find the Right Medicare Plan for You
Finding the right Medicare Plan 2024 doesn’t have to be confusing. Whether it’s a Medigap plan, or you want to know more about Medicare Plan N reviews, we can help.
Call us today at 1-888-891-0229 and one of our knowledgeable, licensed insurance agents will be happy to assist you!
Russell Noga is the CEO and Medicare editor of Medisupps.com. His 15 years of experience in the Medicare insurance market includes being a licensed Medicare insurance broker in all 50 states. He is frequently featured as a featured as a keynote Medicare event speaker, has authored hundreds of Medicare content pages, and hosts the very popular Medisupps.com Medicare Youtube channel. His expertise includes Medicare, Medigap insurance, Medicare Advantage plans, and Medicare Part D.