Medigap Plan N is a great option for those that would prefer to pay a lower monthly premium in exchange for paying your Part B deductible and some copays for doctor visits and emergencies. This plan has been very popular since its introduction in 2010, and it was reported that between 2013-2014, enrollment in Plan N grew by 33%.
If you are interested in enrolling, remember that all Plan N coverage is the same regardless of which insurance company you go with.
Medigap Plan N covers the 20% that Medicare Part B does not cover. It also pays for your hospital deductible, and hospital copays, and coinsurance. Part N includes a full year of hospital benefits after Medicare coverage runs out. You will be responsible for your Part B deductible and excess charges, and some small copays at doctor visits and the emergency room. Your Plan N coverage also includes lab work, surgeries, medical equipment, diagnostic imaging, ambulance, hospice, and more.
People who choose Medicare Supplement Plan N will find that they have the same basic benefits as Plan F, only you have to pay a few small fees that you wouldn’t on Plan F. These small payments include the Part B deductible, doctor copays, and emergency room copays. You are also responsible for excess charges from doctor visits, which is 15% beyond the rate for the visit. This can often be avoided by calling the doctor’s office ahead of time and asking if they accept Medicare assignment. If they do, then you don’t need to worry about excess charges!
Plan N has many of the same benefits as Plan F, but you will be responsible for the Part B deductible as well as small copays at doctor visits and emergency room visits. You will also be responsible for excess charges, but those can be avoided by first checking that a doctor accepts assigned rates!
Costs for Medicare will vary by zip code, gender, and tobacco use. For a male non-tobacco user turning 65, Medigap Plan N rates may be around $100 per month. Costs will be higher for males than they are for females, and those who use tobacco products will have a higher rate than those that do not.
With Medigap Plan N, you will pay the $198 Part B deductible. You will also pay a $20 deductible for doctor visits, and a $50 deductible for emergency room visits. You are also responsible for paying excess charges.
Plan F has been the most popular coverage plan for decades, but recently Plan G and N are gaining popularity thanks to their lower premiums. Then you just have to pay your deductible, and small copays if you have to use those services.
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Did you know…
People turning 65 can get Medicare coverage from over 30+ companies with no health questions?
Here’s how it works
When someone turns 65 or enrolls in Medicare Part B for the first time (whichever comes later) they become eligible for the Medicare Initial Open Enrollment Period.
The signup period begins 3-6 months before starting Part B (age 65 for most) and continues for 3-6 months after Part B starts.
This means that any and all Medicare Supplement plans must accept you regardless of previous health status.
Medicare Supplement Plan benefits are standardized, the only difference is PRICE!
Insurance companies offer the same plan letters (A,B,C,D,F,G,K,L,M, or N) and the benefits with each company compare apples-to-apples…
Medicare Supplement (otherwise known as Medigap) plans are renewable for life. No requirement to change each year.
All standard Medicare Supplement plans are accepted by any doctor that accepts Medicare NATIONWIDE
Medicare Advantage and Part D plans have Annual Enrollment periods and change yearly.
Let us show you how to compare plans and take the headache out of getting set up in one easy step!