by Russell Noga | Updated September 6th, 2023
Medicare supplement insurance plans complement your existing Medicare Part A & Medicare Part B coverage. They assist with covering the out-of-pocket expenses not covered by Original Medicare.
There are ten Medigap policies, listed in letters A through L. Of the ten, Plans G & N are the two most popular choices for new enrollees eligible for Medicare after January 1, 2020.
Both plans have a significant difference in the coverage they provide beneficiaries and the premiums charged monthly. This post examines the differences between Medicare Supplement Plan G vs Plan N.
We’ll compare the benefits and costs and recommend the right plan for your unique healthcare needs.
You’ll learn the differences between Medicare Plan N vs Plan G, giving you the information you need to settle on the right policy for you.
Medicare Supplement Plan N vs G – Coverage Differences
Medigap Plans N and Plan G have distinct similarities and differences in the coverage they offer beneficiaries. These are two of the most popular Medigap plans for 2024.
The great news is, that they both offer comprehensive coverage for relatively low monthly premiums.
But there are certain things you need to know about each to make sure they’re the right coverage for you, and that you don’t overpay.
Let’s unpack them for you in a brief analysis.
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Medicare Supplement Plan G vs N – Comparing Premiums
The most significant difference between Plan G and Plan N is the monthly premiums you pay on your policy.
Since Plan G has a near-comprehensive cover and Plan N requires copayments, Plan G has a higher monthly premium.
It’s important to understand that many different insurance companies offer both of these plans, and they all charge entirely different rates for the exact same coverage.
For example, Medicare Plan G from Mutual of Omaha in 2024 will have a completely different premium than Allstate’s Plan G, in the same area for someone who is the same age.
So how do you choose?
Well, we can help. We shop the rates from the top companies in your area to make sure you don’t overpay.
Medicare Plan G Rates for 2024
The average monthly premium for Plan G is between $100 – $368, and the average premium cost for Plan N is $76 – $349. The rate for your Plan G or N policy can vary depending on factors like your age, gender, smoking status, and location in the United States.
Here’s an example of what a 65-year-old nonsmoking woman pays for premiums in North Carolina.
- Medigap Plan G: $96.
- Medigap Plan N: $72.
What is High Deductible Plan G?
If you want a more affordable premium with excellent coverage, consider taking the “high-deductible” Plan G.
This policy requires you to meet a much higher deductible before you receive 100% coverage. In 2023 this deductible amount is $2700. However, you get a significant reduction in premiums while retaining all the standard Plan G policy benefits.
Premiums for the high-deductible Plan G often start as low as $40 in many areas, making it a more affordable option than Plan N while offering near-comprehensive coverage. However, the high-deductible plan G isn’t available from all providers.
Contact us, and we’ll help you find the best insurance provider for the high-deductible Plan G in your state at the best rates.
Medicare Supplement Plan G vs N – Which One Should I Choose?
So, which option is the better choice? Plan G or Plan N? Well, that’s a loaded question, depending on personal factors.
The average difference in premiums is around $24 per month, as per our earlier example.
This difference accounts for one copayment of $20 to a doctor’s office or emergency room every other month.
Plan N for Healthy Seniors & Retirees
Medicare Plan N is the better choice for seniors and retirees who are healthy and don’t visit the doctor or make trips to the emergency room very often.
For instance, let’s assume a Plan N policy in your state or city costs $25 less than a standard Plan G policy.
That equates to a difference of $300 annually. If you make four visits to the doctor’s office requiring a $20 copayment and one trip to the emergency room with a $50 copayment, that results in $130 in out-of-pocket expenses.
So, you would save $170 annually on the costs of Plan N vs Plan G.
If you’re healthy and hardly make any trips to the doctor but still want near-comprehensive cover, then Medicare Plan N may be the better option.
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Plan G for Predictable Healthcare Costs
If you have a pre-existing health condition or find yourself making a trip to the doctor or emergency room more than once a quarter, Plan G might be the better option for your Medigap policy.
Medicare Plan G gives you better predictability of your annual healthcare expenses, which might be more important than the risk of making copayments on consultations with medical professionals.
For instance, if we use the same example as the Medicare Plan N scenario, you would pay $25 more in premiums for standard Plan G every month, resulting in $300 annually.
However, you don’t have to make any copayments, resulting in better stability for your monthly budget and peace of mind knowing you have coverage for everything after meeting the annual Medicare Part B deductible.
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Frequently Asked Questions
What is the difference between Medicare Supplement Plan G and Plan N?
Medicare Supplement Plan G and Plan N are both popular options, but they have some key differences. Medicare Plan G offers more comprehensive coverage compared to Plan N, but it usually comes with a higher monthly premium.
Medicare Plan N has copayments and possible excess charges that you might have to pay, in exchange for a lower monthly premium than Plan G.
What does Medicare Supplement Plan G cover?
Medicare Supplement Plan G provides coverage for Medicare Part A deductible, Part A coinsurance and hospital costs, Part B coinsurance or copayments, Medicare Part B excess charges, skilled nursing facility coinsurance, and even offers coverage for medical expenses while traveling abroad.
What does Medicare Supplement Plan N cover?
Medicare Supplement Plan N covers Medicare Part A coinsurance and hospital costs, Part B coinsurance or copayments (except for a small copayment for office visits and emergency room visits), and skilled nursing facility coinsurance. It does not cover the Part B deductible or excess charges.
Does Medicare Supplement Plan G or Plan N have lower premiums?
Generally, Medicare Supplement Plan N has lower monthly premiums compared to Plan G. However, it’s important to consider the differences in coverage and potential out-of-pocket costs when making a decision.
Use our free online quote engine at the top of this page to check rates for both plans in your area.
Is there a difference in out-of-pocket costs between Plan G and Plan N?
Yes, there can be differences in out-of-pocket costs between Plan G and Plan N. Plan G typically has minimal out-of-pocket expenses, while Plan N may have copayments for certain services, such as office visits and emergency room visits.
Can I see any doctor or specialist with Medicare Supplement Plan G or Plan N?
Yes, both Medicare Supplement Plan G and Plan N allow you to visit any healthcare provider who accepts Medicare patients. These plans do not have networks of preferred providers, offering you flexibility in choosing your healthcare providers.
Are prescription drugs covered under Medicare Supplement Plan G or Plan N?
No, Medicare Supplement plans, including Plan G and Plan N, do not cover prescription drugs. To get coverage for medications, you need to enroll in a standalone Medicare Part D prescription drug plan.
Can I switch from Plan N to Plan G or vice versa?
Switching between Medicare Supplement plans is possible, but it may be subject to certain conditions. These conditions could include medical underwriting or restrictions imposed by insurance companies. It’s advisable to review the rules and regulations of your specific plan and consult with an insurance professional.
Which plan is better suited for individuals who visit the doctor frequently?
Medicare Supplement Plan G may be a better choice for individuals who visit the doctor frequently since it offers more comprehensive coverage, including coverage for Part B excess charges. However, it’s essential to compare the costs and benefits of both plans based on your specific healthcare needs.
Which plan is the better choice ultimately, Plan G or Plan N?
The better choice between Medicare Supplement Plan G and Plan N depends on individual preferences, healthcare needs, and budget.
Medicare Plan G provides more extensive coverage but comes with a higher premium, while Medicare Plan N has lower premiums but requires copayments for certain services. Evaluating your healthcare usage and expected costs can help determine which plan is more suitable for you.
We can help, give us a call today.
Find the Right Medicare Plan for You
Searching for the right Medicare plan doesn’t have to be confusing. Whether it’s a Medigap plan or you have questions about Medicare Advantage or Medicare Part D, 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.