Medicare Plan N

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Medicare Plan N is a very popular Medigap plan that helps pay the “gaps”, or expenses of Medicare Part A and B. Plan N has lower premiums than both Plan G and Plan F, as well as Lower rate increases. It’s a great option for Medigap insurance.

What is Medicare Plan N?

Like all Medigap plans, Plan N helps pay the “gaps”, or expenses, in Medicare Part A and Part B. These gaps include items such as deductibles, co-pays, and coinsurance that you are responsible to pay.

While there are 10 different Medigap plans available, most people are enrolled in one of three plans:

  • Medicare Plan N
  • Medicare Plan G
  • High-deductible Plan G

I suggest you watch the quick video above on this page as I go into great detail about what Plan N covers. Below is a breakdown:

With Medicare Plan N:

  • You pay the annual Part B deductible
  • After the deductible is met, Medicare Pays 80% and Plan N pays 20%
  • Possible co-pay of up to $20 per doctor’s visit
  • $50 co-pay if you visit the ER and you’re not admitted to the hospital
  • Plan N does not cover Part B excess charges (Rare)
Medicare Part N

Medicare Plan N vs Plan G

Medicare Plan N offers a great alternative to Plan G, with its lower premiums and lower rate increases. In many cases, Plan N can be up to $30 less per month than Plan G.

In exchange for those lower premiums, there are a few out-of-pocket expenses that you might incur with Plan N.

If you are relatively healthy and do not visit your doctor often, Medicare Plan N is an excellent choice. The amount of savings per month makes this a far more economical option over Plan G for these people.

Medicare Plan G

Medicare Plan G is very easy to explain. Of course, both of these plans help supplement and pay for the gaps, which are expenses, in Medicare Part A and B that Medicare doesn’t cover.

Medicare Plan G

So in other words they help pay things like deductibles, co-pays, and co-insurance. With Plan G, there’s only one deductible to pay and then you get all your medical bills paid for the rest of the calendar year.

For 2023 this deductible is $226, paid once per calendar year.

You will pay a higher premium for Plan G to have this coverage.

Medicare Supplement Plan N - Why it's Great

So let’s get right into it with Medicare Plan N and what you will be required to pay, as well as what it covers.

With Plan N, you will still need to pay the Medicare Part B deductible just like on Plan G. And of course, your monthly premium for the plan.

That deductible is once per calendar year and is that Part B deductible.

Medicare Supplement Plans

So let’s get right into it with Medicare Plan N and what you will be required to pay, as well as what it covers.

With Plan N, you will still need to pay the Medicare Part B deductible just like on Plan G. And of course, your monthly premium for the plan.

That deductible is once per calendar year and is that Part B deductible.

So when you pay the deductible, let’s say in early January for example, you’ve paid for the rest of the year on that deductible.

With Plan G, there are no other costs, you pay that deductible when you’re done.

However, with Medicare Plan N, you might have some additional out-of-pocket costs.

Some of those include a possible co-pay per doctor’s visit, each time you go to the doctor for the remainder of the year after you pay that Part B deductible.

Now, this co-pay will never be more than $20 per doctor’s visit.

That also includes a specialist visit.

However, it could be no co-pay, or it could be from zero to $20, somewhere in between.

It just depends on what you go for and how they code your office visit.

So you could have that copay; never more than 20 per doctor’s visit on Plan N after you meet the Part B deductible.

Medicare Plan N Co-pays

Medicare Supplement Plans

And for you folks who maybe visit the doctor quite a bit, you might be saying,  “Well gee, every doctor visit, I have a $20 co-pay…that could really add up.”

Perhaps you’ve got a medical condition that you do visit the doctor often to get checked up.

Well, it’s definitely good to take that into consideration, and in that case, we might want to look at Plan G as there are no co-pays.

We need to look at the math though and check the premiums between the two.

Because if you just go to the doctor infrequently, then Plan N definitely becomes a better option than if you go often.

Now, nobody’s got a crystal ball, go to the doctor if you have to.

Quite honestly, even if you went once a month,  and got a $20 co-pay each time the lower premiums of Plan N still make it a good option.

Again, it’s all about the difference in premiums in YOUR area.

And we do that very easily. If you just give us a call at 1-888-891-0229.

Medicare Plan N Rates

Medicare Supplement Plan N Cost

Let’s talk a little bit more about the differences between the two plans, and more specifically what other charges you could incur on Medicare Plan N.

Again,  if you’re somebody who doesn’t go to the doctor very often…and I have clients who never got to the doctor who loves Plan N because they pay lower premiums all year long.

So they absolutely love it. They know if something happens to them, they’ve got outstanding coverage, but their out-of-pocket expenses are going to be minimal, even on a Plan N.

So they love Plan N because they don’t go to the doctor very often, but they know they are protected very, very well, God forbid something major happens.

Medicare Part B Excess Charges on Plan N

Now, one other possible out-of-pocket expense you could see on Plan N though very rare is called Part B Excess Charges.

They’re extremely rare. I’ve never had a client in 11 years ever seen an excess charge, at least that they told me about, or had to pay.

And my clients are pretty good at telling me things like that!

Medicare Supplement Plans
Medicare Supplement Plans

So with Part B Excess Charge, here’s how that works…

If doctors accept the assigned rates for Medicare, which is estimated that over 97% of them do in this country, then you’ll never see a Part B Excess Charge because they don’t charge them.

Those are good odds. That’s most doctors in this country.

If a doctor does in fact choose to not accept the assignment of Medicare’s rates, they can charge up to 15% extra of the assigned rates.

Again these almost never happen, and you would have to pay a small percentage or a percentage of that percentage, which would equal a small amount!

Now, I don’t want to say it could never happen, but it’s incredibly rare.

And don’t forget, even if you do get a Part B Excess Charge, you have to pay a portion of it, you’ve saved all that money on your Plan N premiums over Plan G. So it could be minimal.

Plan N is fantastic coverage and we should absolutely consider it when we speak!

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How to enroll in Medicare Plan N

In nearly every case, you cannot simply try to search the internet to get rates on Plan N from all the top companies in just one spot. In fact, we’re one of the only companies that actually allows you to see any rates at all for any of the Medigap plans.

This is because we want to gain your trust and provide you with the necessary information to help you make an informed decision. And that’s why our clients love our FREE service each year.

We’ll shop all the top companies now for you, as well as every year, to always make sure you’re paying the least amount possible for your Medigap coverage.

The easiest way to enroll is to just give us a call now at 1-888-891-0229. 

I promise you’ll be glad you called!

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