by Russell Noga | Updated October 2nd, 2023
As you navigate the world of Medicare, you’ll quickly realize that there are many options available to help cover your healthcare expenses. One such option that has gained popularity is Medicare Supplement Plan N.
But what does Medicare Plan N include, and how does it compare to other Medicare supplement options?
In this article, we’ll explore the ins and outs of Plan N, its benefits, limitations, and how it stacks up against other plans, empowering you to make an informed decision about your healthcare coverage.
Short Summary
- Medicare Supplement Plan N is an affordable option with comprehensive coverage for out-of-pocket expenses, including the Part A deductible and skilled nursing facility coinsurance.
- It provides coinsurance and copayment support for Medicare Parts A & B, as well as coverage for the first three pints of blood, skilled nursing facility care, foreign travel emergency care and hospice care coinsurance.
- Consider factors such as location, pricing customer satisfaction when researching carriers to choose the right insurance company offering Plan N during Open Enrollment or after underwriting approval at any time of year.
Understanding Medicare Supplement Plan N
Medicare Supplement Plan N is a popular choice among beneficiaries seeking broad coverage for out-of-pocket expenses, as it offers comprehensive coverage at a more economical price compared to other plans, including some Medicare Advantage plans.
Plan N covers the entire Medicare Part A deductible, skilled nursing facility coinsurance, and emergency medical services outside the U.S., helping to reduce out-of-pocket medical expenses.
With an average monthly premium of approximately $152, Plan N provides coverage for Medicare-approved expenses not covered by Original Medicare.
The Basics of Medicare Supplement Insurance
Medicare Supplement plans are types of insurance policies offered by private organizations in order to cover additional expenses not covered by Original Medicare. These plans, which are also known as Medigap policies, provide supplemental coverage to help offset out-of-pocket costs.
These plans are available to individuals who are 65 years old or older and enrolled in Medicare Part B.
There are a total of 10 Medigap plan options, each designed to meet different healthcare needs and budgets. Some of the popular plans offered by insurance companies like Cigna include:
- Medigap Plan A
- Medigap Plan F
- Medigap Plan G
- Medigap Plan N
How Medicare Supplement Plan N Fits In
Plan N stands out as a comprehensive option offering extensive coverage, making it an attractive choice for those seeking broad coverage without breaking the bank. In fact, Plan N is the third most popular plan overall and the second most popular plan among new enrollees.
To enroll in Plan N, you must have Original Medicare (Medicare Part A and B). Beneficiaries have expressed a positive response to Plan N due to its broad coverage and lower premiums.
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Key Components of Medicare Plan N Coverage
Essential elements of Medicare Plan N coverage include:
- Medicare Part A coinsurance and hospital costs
- Medicare Part B coinsurance or copayments (excluding a $20 copay for office visits and a $50 copay for emergency room visits)
- Coverage for the first three pints of blood
- Skilled nursing facility coinsurance
- Foreign travel emergency care
Let’s take a closer look at how Plan N covers these expenses.
Coinsurance and Hospital Costs
Under Medicare Plan N, Medicare Part A coinsurance and hospital costs are covered, providing financial support for extended hospital stays.
More specifically, Plan N extends coverage of Medicare Part A coinsurance and hospital costs for up to 365 days after Medicare benefits are exhausted.
Deductibles and Out-of-Pocket Limits
While Plan N covers the Medicare Part A deductible, it does not include the Medicare Part B deductible or possess an out-of-pocket limit.
When enrolled in Medicare Supplement Plan N, you are liable for your Medicare Part B deductible, copayments at the doctor’s office, and any excess charges that may apply to your circumstances.
Copayments for Office Visits and Emergency Room Visits
Plan N requires copayments for some office visits and emergency room visits to help keep the monthly premium lower.
Specifically, office visits have a copayment of up to $20, and emergency room visits have a copayment of up to $50 (if they do not result in inpatient admission).
Additional Benefits of Medicare Plan N
In addition to the key components of coverage, Medicare Plan N offers supplementary benefits such as skilled nursing facility care, foreign travel emergency coverage, and hospice care coinsurance.
These additional benefits provide further peace of mind and protection for Plan N enrollees.
Skilled Nursing Facility Care
Medicare Plan N provides coverage for skilled nursing facility coinsurance, ensuring that beneficiaries have financial assistance for extended care in a nursing home or other facility staffed by medical professionals.
This coverage includes all coinsurance costs for up to 100 days in a skilled nursing facility, after which the beneficiary will be responsible for covering all expenses.
Plan N is a great option for those who may need extended care in a nursing home.
Foreign Travel Emergency Coverage
For those who enjoy traveling abroad, Plan N offers 80% coverage for foreign travel emergency care, providing protection while traveling outside the United States.
This coverage ensures that you can have peace of mind while exploring the world, knowing that you’re protected in case of an emergency.
No matter where you go, you can rest assured that you’re covered with Plan B.
Hospice Care Coinsurance
End-of-life care is an important aspect of healthcare coverage, and Medicare Plan N covers the hospice care coinsurance for Part A. This coverage provides assistance in covering the costs associated with hospice care, ensuring that beneficiaries have access to the essential care they need during their final days.
Hospice care is a specialized form of care that focuses on providing comfort and support to patients.
Limitations and Exclusions of Medicare Plan N
While Medicare Plan N offers comprehensive coverage for many healthcare expenses, it also has certain restrictions and omissions, such as not covering Medicare Part B excess charges and dental, vision, hearing, and prescription drug costs.
It’s important to be aware of these limitations when considering Plan N as your Medicare supplement option for 2024.
Medicare Part B Excess Charges
One notable exclusion in Plan N is the lack of coverage for Medicare Part B excess charges.
These charges refer to the additional amounts that a doctor or healthcare provider may charge if they do not accept Medicare assignment and can be up to 15% higher than the Medicare-approved amount.
Dental, Vision, Hearing, and Prescription Drug Costs
Another limitation of Plan N is its exclusion of coverage for:
- dental
- vision
- hearing
- prescription drug costs
To obtain coverage for these services, you may need to consider additional coverage options or be prepared to pay out-of-pocket for these expenses.
These additional coverage options may include supplemental insurance plans, such as a Medicare Advantage plan, which can be offered by private insurance companies.
Comparing Medicare Supplement Plan N to Other Plans
To determine if Medicare Supplement Plan N is the best fit for your needs and financial goals, it’s important to compare it to other plans, such as Plan G and Plan F.
By examining the similarities and differences between these plans, you can make an informed decision about which plan offers the best balance of coverage and cost for your specific situation.
Plan N is the most affordable of the three plans, but it also has the most limited options.
Plan N vs. Plan G
Plan N and Plan G are similar in many aspects, but there are some key differences. Plan G is more comprehensive and does not require copays for physician and ER visits that do not result in hospitalization, while Plan N requires copays for these visits.
However, Plan N offers lower premiums than Plan G, making it a cost-effective option for those who receive occasional care and are willing to pay copays for certain visits.
Plan N vs. Plan F
Plan F is not available to individuals who enrolled in Medicare on or after January 1, 2020, but for those who are eligible, it offers more comprehensive coverage than Plan N. Plan F includes coverage for the Medicare Part B deductible and excess charges, which Plan N does not cover.
However, Plan N offers lower premiums than Plan F, making it an attractive choice for those seeking broad coverage without incurring the highest costs.
Choosing the Right Insurance Company for Medicare Plan N
Selecting the right insurance company for Medicare Plan N is crucial, as it can impact the coverage you receive, the premiums you pay, and your overall satisfaction with your plan.
Consider factors such as location, pricing, customer satisfaction, and rate increase history when making your decision.
Do your research and compare plans to find the best fit for you. Make sure to read the article.
Factors to Consider When Choosing a Carrier
When choosing a carrier for Medicare Supplement Plan N, factors such as location, pricing, customer satisfaction, and rate increase history should be considered. You may investigate online or consult with an insurance agent to compare pricing and discounts offered by different insurance companies.
Researching online or speaking with an insurance agent are viable methods to assess customer satisfaction ratings and reviews.
Top-Rated Carriers Offering Plan N
Some of the top-rated carriers offering Plan N include:
- Humana
- AARP/UnitedHealthcare
- Blue Cross Blue Shield
- Mutual of Omaha
- Cigna
These carriers are known for their strong customer satisfaction records and financial stability, ensuring that you receive reliable coverage and support throughout your enrollment in Medicare Supplement Plan N.
Plan N is a great option for those looking for a comprehensive coverage plan that is also affordable.
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Enrollment Process for Medicare Supplement Plan N
Enrolling in Medicare Supplement Plan N can be done during the Medicare Supplement Open Enrollment period, which begins upon enrollment in Medicare Part B and lasts for up to six months following your 65th birthday.
Enrolling in a Medicare Supplement plan is possible right now, with absolutely no health underwriting questions. You don’t have to wait until a certain time period passes.
Outside of the Open Enrollment Period, enrollment in a Medicare Supplement plan is possible at any time of the year upon passing underwriting. The best rates and coverage are generally available during the initial enrollment period.
Summary
In conclusion, Medicare Supplement Plan N is a popular and comprehensive option for those seeking broad coverage for out-of-pocket expenses at a lower premium than other plans.
With coverage for coinsurance, hospital costs, skilled nursing facility care, foreign travel emergency care, and hospice care coinsurance, Plan N provides a solid foundation for your healthcare needs.
However, it is essential to be aware of the limitations and exclusions, such as not covering Medicare Part B excess charges and dental, vision, hearing, and prescription drug costs.
By comparing Plan N to other plans and choosing the right insurance company, you can ensure that you receive the best coverage and support for your healthcare needs.
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Frequently Asked Questions
What services are included in Medicare Plan N?
Medicare Plan N includes coverage for hospitalization, medical services, and often prescription drugs.
Does Medicare Plan N cover hospital stays?
Yes, Medicare Plan N includes coverage for hospital stays, including inpatient care.
Are doctor visits covered by Medicare Plan N?
Yes, doctor visits, both primary care and specialists, are typically covered by Medicare Plan N.
Does Medicare Plan N cover emergency room visits?
Emergency room visits are usually covered by Medicare Plan N, subject to any applicable copayments or coinsurance.
Does Plan N include preventive care?
Yes, Medicare Part B and Medicare Plan N often cover preventive services such as vaccinations and screenings.
Does Plan N provide coverage for durable medical equipment?
Yes, durable medical equipment, such as wheelchairs and oxygen supplies, is typically covered by Medicare Plan N.
Are mental health services covered under Medicare Plan N?
Yes, Medicare Plan N includes coverage for mental health services, including outpatient therapy.
Does Plan N include coverage for home healthcare?
Yes, Medicare Plan N often covers home healthcare services, including skilled nursing care.
Are there any additional benefits included in Medicare Plan N?
Some Plan N options may offer extra benefits like dental, vision, or fitness programs, so it’s essential to review the plan details to find the one that suits your needs best.
Find the Right Medicare Plan for You
Finding the right Medicare plan doesn’t have to be confusing. Whether it’s a Medigap plan, or you have inquiries about Medicare Advantage or Medicare Part D, we can help.
Call 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.