Medicare Supplement Plan N
Medicare Plan N will help fill in some of the gaps in coverage that you might be dealing with right now with Original Medicare. It’ll help with covering some of your deductibles and coinsurance and will provide additional coverage when your Medicare coverage runs out. For example, once your hospital coverage runs out from Original Medicare, Plan N will pick up the slack.
What does Medicare Supplement Plan N Cover?
The Medicare Part A deductible is covered by Medicare Supplement Plan N.
Your Medicare Part A coinsurance will be covered by this Medicare plan. After your Original Medicare benefits are exhausted, your Medicare Supplement insurance Plan N will cover hospital coinsurance and hospice care coinsurance.
Medigap Plan N will pay for 100% of your Medicare Part B coinsurance costs, except for a small copay that will have to be paid for doctor’s office visits or emergency room visits.
You will have to pay a $20 copayment at the doctor’s office..
You will be required to pay a $50 copay each time that you visit the emergency room.
How Much Does Medicare Supplement Plan N Cost?
Here are the prices for a 65 year-old, non-smoking female living in 46001 Indiana.
65-Year Old Female Non-smoking
Plan N $77.77 - $124.46
There are three different calculation methods that are used when your Medicare Supplement plan premiums are determined.
- Community-rated – All customers are charged the same rate with a community-rated plan.
- Issue age – If your insurance company used this method of calculating rates, your rates will be based on your age when you first sign up for your plan. You do not have to worry about your monthly premium going up as you age.
- Attained age – With this method, your rate is based on the age that you are at the time that you pay your premium. As you age, your rates will go up.
When can I enroll in Medicare Supplement Plan N?
When you turn 65 and are signed up for both Medicare Part A and Medicare Part B, you will be in the six month Medigap Open Enrollment Period. This period is important because you can easily apply. Be aware that some companies do require medical underwriting before you can be approved. This does not mean that you can’t get coverage, though. We can help you with that; just give us a call and talk to one of our Medicare Supplement specialists who can assist you in choosing the best company and plan for your situation. The different companies handle underwriting differently, and we can help you find a company that will work well for you.
What Companies Offer Medicare Supplement Plan N?
There are a few different companies that offer Medigap Plan N, but we feel these are a few of the best Medicare Supplement Plan N providers:
Of course, you can compare plans from other companies. We recommend the companies listed above for your Medigap policy, whether you choose Medigap Plan N or another plan, for these reasons:
- Top financial strength and ratings
- Long history in the health industry
- Great tools and ease of access at all points of the process
- Great customer service
- Competitive rates and stability over time
- Customer satisfaction
Medicare Plan N vs. Plan G
Although not as popular as Medicare Plan F, Medicare Plan G is another one of the popular health insurance supplement options that you can choose from. You may want to compare the health care benefits of these two Medicare Supplement plans so that you can make the right choice.
- How are benefits different from Plan N compared to Plan G? Medicare Plan G covers Plan B excess charges, but Medicare Supplement Plan N does not. Neither plan covers the Plan B deductible. Both plans offer additional health insurance, but Plan G does offer a little more coverage.
- How do the rates compare to Plan G? Medicare Plan N rates are typically 25% to 35% cheaper than Medicare Supplement Plan G rates. The best Medicare Supplement Plan N companies will offer the best rates so you can maximize your savings.
- Is there a change in my access to doctors or hospital networks compared to Plan G? No. You do not have to worry about network restrictions with either plan. Beneficiaries of either plan can enjoy their benefits anywhere that Medicare is accepted.
Medicare Supplement Plan N Review
There is a lot of information out there about the different Medicare Supplement plans. When compared to the other Medicare Supplement plans, these are some of the things you’ll want to know about this health insurance option:
- You will still be enrolled in Medicare Part A and Part B if you choose this plan, so you’ll still have the benefits that beneficiaries who are enrolled in Medicare Part A and Part B enjoy.
- If you’re willing to cover some costs yourself that aren’t covered by Medicare Part A and Part B — such as copays — but you’d like to have a more affordable monthly premium, then the Medicare Supplement Plan N rates and coverage might be right for you.
- Beneficiaries don’t have quite as much coverage with Medicare Supplement Plan N as they do with Medicare Supplement Plan F, but the Medicare Supplement Plan N rates are significantly cheaper.
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