Medicare Supplement Plan N

What is A Medigap Plan N

Medicare Supplement Plan N is listed among AHIP’s “fast-growing Medigap plans”, along with Plans G and K.  While it popularity is on the rise, there are some details about the Plan N the you need to know.  Continue reading for details on the benefits and costs of the Medicare Supplement Plan N.  For a personalized consultation on Medicare supplement plans call us at 844-528-8688.

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The 2017 report from America’s Health Insurance Plans (AHIP) found that Medigap Plan N saw a 27% increase in enrollments between 2014 and 2015. Introduced almost eight years ago, Plan N offers a unique option to Medicare recipients who are looking to save on premiums in exchange for a small deductible and copay.

When comparing plans, Medigap N is very similar to Plan D, though AHIP found that Medigap D saw a 10% decrease in enrollment during the same time period.

In essence, Plan N allows you to reduce your monthly payments by paying a little bit more every time you do visit the doctor, but it is always a predictable copay rather than a variable percentage of the service charge.

Medicare Supplement Plan N Benefits

The goal of every Medicare supplemental insurance plan is to reduce or eliminate the out-of-pocket expenses associated with Medicare. These typically come in the form of copays, deductibles, and coinsurance, and Medicare Plan N covers the most common surprise charges that Medicare recipients are trying to avoid.

Medicare Supplement Plan N

The following expenses are paid 100% by Medicare Plan N (except where noted):

  • Medicare Part A Coinsurance and Hospital Costs (up to 365 additional days beyond typical Medicare Benefits)
  • Medicare Part B Coinsurance and Copayment*
  • First 3 Pints of Blood
  • Coinsurance for Hospice Care Under Medicare Part A
  • Part A Deductible
  • Foreign Travel Emergency

*Plan N includes a copay for some office visits and ER services

Part B Copay with Plan "N"

Medigap N is unique among the other supplement plans because it does not completely cover Part B expenses. All the other plans pay 100% of any Part B coinsurance or copays. Plan N, on the other hand, requires you to pay a predictable copay for medical services that fall under Part B:

  • $20 copay for some office visits
  • $50 copay for emergency room visits if you are not admitted
 While you might think that these costs are a reason to avoid Medigap N, they actually account for its popularity. These small, predictable copays are what allow the plan’s premium to remain low compared to similar Medicare supplements.

Who Is Medicare Supplement Plan N Best For?

Medicare Supplemental Insurance Plan N covers most of the available charges, but it doesn’t cover all of them. Specifically, it doesn’t cover the Part B deductible ($183 annually for 2018) or Part B Excess Charges.

The deductible is relatively low, so it doesn’t play much of a role in determining whether or not Plan N is for you. The Excess Charges, however, are an important consideration.

In most states, doctors who accept Medicare are permitted to charge up to 15% higher than Medicare’s “assigned fee” for any given medical service. If your doctor does include any of these excess charges, however, you are expected to pay them.

Some Medicare supplements will cover excess charges, but Plan N does not. So, if you are certain that your favored doctors do not charge more than the assigned fee, Plan N could be the one for you.  If you don’t want to risk or worry about the hassle of potential excess charges, you are better off with a different Medigap Plan.

 In addition, Plan N comes with a lower premium at the cost of copays for services that fall under Medicare Part B. If you are okay paying $20 for some medical services and $50 for ER visits, than Plan N is a good choice for you

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Plan N vs Plan D

At first glance, Plans N and D seem identical. As far as a checklist of benefits goes, they would both have all of the same boxes checked. The only difference is that with Medigap N, you’ve got those pesky copays to take care of.

Are they really worth it?

Well, while insurance prices vary based on the provider, the average monthly premium for Plan D is $150 greater than Plan N. That means that in order to make Plan D worthwhile, you’d likely need to have more than six office visits every month of the year.

When you look at the difference in premiums, Plan N wins the race against Plan D in almost every single case.

Ready to Enroll in Medicare Supplement Plan N?

If you are looking to extend your Original Medicare benefits in order to cover some of the most common out-of-pocket expenses without breaking the bank on monthly premiums, Medigap N may just be your best choice.

There are others to consider, though. Plan G, for example, also covers Part B Excess Charges without too high of an increase on premiums (and no copay!).

If you are looking for help navigating the sea of information on Medicare supplements in order to find the best choice for you, reach out to us at 844-528-8688 or via our online contact form. Our services are always 100% free to you.

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