Medicare Plan N Coverage helps pay for the gaps in Medicare Part A and B such as co-pays, deductibles, and coinsurance. Plan N is one of the most popular Medigap Plans with lower premiums than Plan G.
Click below to learn about Medicare Plan N!
Medigap Plans
If you’re shopping for Medigap plans, it can be hard to make a choice. Because there are so many plans available, it’s tough to determine which plan is the best for your own situation. However, Medigap Plan N is a great choice for people looking for a very comprehensive plan.
Below we’ll discuss the Medicare Supplement Plan N coverage and other benefits.
Brief Description of Medigap Plans
When turning 65, you’ll qualify for Medicare which is a federal insurance program.
With traditional Medicare, you’ll get coverage for some of the medical costs. The services that aren’t covered are knowns as ‘gaps.’
Also known as Medigap Plans, supplement plans are policies available for purchase from private insurers. And using these plans, you can get coverage for services that Medicare doesn’t cover.
More on Supplement Plans
The Federal government has standardized the supplement plans. It means the plans denoted by the same letter will provide the same coverage benefits regardless of who you buy the plan from.
However, you should know that while each company offers the same coverage, they all charge entirely different rates for it!
That’s why people let us help. For NO cost we help you find the lowest premiums every year for your coverage. And we keep you there for years to come.
Call today to get started!
If you’re sixty-five years of age or older and are registered for Part B, you can opt for a Medicare Supplement plan. If you’re under sixty-five years of age and suffer from a disability, you can still qualify for Medigap.
But the options will be limited and are different in each state. Rates are often much higher as well, unfortunately.
You’ll find ten unique Medigap plans in total. However, we’ll focus on Medigap N.
What Is Medicare Plan N?
Medigap Plan N offers coverage for the out-of-pocket costs which aren’t covered by Part B and Part A of Medicare. Similar to Plans F and C (which are no longer available to new enrollees), Plan N offers extremely comprehensive benefits.
However, Plan N comes with a lower premium than the popular Plan G. And this is what makes plan N an attractive option.
What Coverage Does Plan N Offer?
Four basic areas that come under Medicare Supplement Plan N coverage are: –
Hospitalization: Plan N offers coverage for coinsurance and also offers coverage for at least 365 days after your Medicare benefits cease to cover you.
Medical Expenses: The plan also pays your coinsurance for Part B (Excluding ER and doctor visits copays) along with 20% of expenses approved by Medicare or for your outpatient services.
Blood: The plan pays for the first 3 pints of blood each year. And if you need beyond three pints, original Medicare will take care of that.
Hospice Care: The plan covers your coinsurance for Part A.
In addition to the above, Plan N also offers coverage for deductibles for Part A and nursing facility care.
What Coverage Does Plan N Not Offer?
Your Plan N won’t cover you for the excess charges of Part B Medicare, however, these are incredibly rare, to begin with. The excess charges are the difference between the amount decided by Medicare for service from what your provider asks you to pay.
It’s been determined that 96% of physicians in the United States do not charge any Part B excess charges.
And in the following states, they are not even allowed to charge them:
- CT
- MN
- OH
- PA
- RI
- VT
- MA
- NY
Medicare Plan N Cost
The premium that you have to pay for supplement plans usually varies with the insurance provider and your location.
For instance, a non-smoking woman of 65 years of age residing in the 78758 ZIP code in Austin, TX would pay anywhere between $78 – $95 in 2021 as a monthly premium.
And that’s not factoring in any household discounts she might qualify for.
But what’re the criteria companies use to set the prices? The insurance providers use any of the three below-mentioned rating systems:
- Attained-age-rated: In this case, initially, the premium amount is low, but as you age, it increases.
- Community-rated: The premium price remains the same regardless of your age. There might be an increase in the premium, but it’ll be due to inflation and not because of age.
- Issue-age-rated: In this case, the premium amount is decided based on how old you were when you bought the plan. If you’re younger, the plan will cost less. However, the plan premium won’t increase as you grow older.
The cost can vary largely. The major difference is based on whether the insurance provider selling the plan uses medical underwriting.
Free Tip: Make sure to compare apples with apples while purchasing a supplement plan. You should be sure that you’re comparing a Plan N from one insurer and Plan N from another one. You must not compare Plan B with Plan N from different insurers. It’s because you won’t be able to compare in the right manner.
Plan N Enrollment
The enrollment starts on the 1st day you turn sixty-five, along with Part B benefits. And this enrollment is valid for 6 months after the birthday month. It’s the best time to enroll because insurance companies won’t be able to use medical underwriting. It means you can choose the plans at pretty low prices.
However, if you apply before or after this period, you may have to pay a higher premium or even face rejection because of health issues.
Plan N VS. Other Supplement Plans
Plan N offers better coverage than Plans L and K. For instance, Plan N offers 100% coverage for Part B copayments and coinsurance. However, Plans L and K pay only 75% and 50%, respectively. This is also true for the deductible for Part A.
In addition to that, the only expenses going out of your pocket will be a $50 copay for ER visits & a $20 copay for doctor office visits.
No Network Limitation
There’s no network limitation with Medigap plans. Plan N will cover you across the country. The only condition is that the facility you’re buying the services from must accept Medicare Part A and B (Original Medicare).
Foreign Travel
There are a handful of plans covering your emergency travel outside the country. And plan N has some benefits covering your treatment costs by up to eighty percent.
Information you need before signing up for Medigap Plan N
Here’s what you need to know before enrolling in Medigap Plan N:
- You should be registered for Medicare Part B and Part A.
- You can either have a Medigap plan or an Advantage plan but not both. If you’re enrolled with an Advantage plan, you can opt for a Medigap plan, but you need to cancel your Advantage plan.
- A Medigap plan covers a single individual only. So, your spouse or partner will need a different policy.
- You can renew Medigap plans even if you’re suffering from health issues. The plan will remain intact if you regularly pay your premium.
- You should know that Medigap policies like Plan N never cover everything. Medicare Supplement Plan N Coverage does not include vision care, dental care, prescription drugs, hearing aids, or skilled nursing coverage. We can help you with these as well.
Get Started
To enroll in Plan N the easiest way possible just give us a call today at 1-888-891-0229.
We’ll keep you in the lowest premiums and best coverage now, and for years to come!
Call now, we promise you’ll be glad you did!
