Medicare Supplement Plan N
Medicare Supplement Plan N provides additional health insurance coverage that fills the gaps after Original Medicare pays on your claim. Medicare Supplement Plan N covers inpatient and outpatient medical expenses such as copayments, office visits, emergency room visits, and deductibles. Among the 10 supplement plans available, Plan N is becoming increasingly popular for seniors who want good coverage at a reasonable premium.
How Does Medicare Supplement Plan N Work?
Your Original Medicare coverage (Medicare Part A and Medicare Part B) pays for hospital and outpatient medical expenses, but it doesn’t pay 100% of your claims. Medigap Plan N bridges that gap in your Medicare coverage by helping to cover the out-of-pocket expenses for which you’re responsible. Plan N is offered by Medicare-approved private insurance companies and is standardized in 47 states (Massachusetts, Minnesota, and Wisconsin handle Medicare Supplement plans differently).
What Does Medigap Plan N Cover?
Medicare Supplement Plan N covers hospitalization and outpatient services.
Standard Plan N benefits include:
- Medicare Part A deductible
- Medicare Part A coinsurance
- Medicare Part B coinsurance
- Medicare Part B preventive care coinsurance
- Part A hospice care coinsurance
- Skilled nursing facility coinsurance
- First three pints of blood
- Foreign travel emergency medical care
Co-pays you are responsible for:
- $20 office visit
- $50 emergency room copays
- $0 copay for Urgent Care Centers
Note on ER copay: If you are admitted to the hospital from the emergency room, you are not responsible for the ER copayment.
What's Not Covered by Plan N
Medicare Plan N does not cover Medicare Part B excess charges. Excess charges are the difference between what a healthcare provider charges and the Medicare-approved amount.
Additional exclusions:
- Medicare Part B deductible
- Long-term care (such as non-skilled care received in a nursing home)
- Private-duty nursing
- Vision or dental services
- Hearing aids
- Eyeglasses
- Prescription drugs
How Much Does Medicare Supplement Plan N Cost?
On average, you can expect to pay between $100 and $200 per month for Plan N.
The cost of your monthly premium for Plan N varies based on age, gender, location, and insurance carrier. Variations may be significant, as illustrated below.
Taking into account location and various insurance carriers, here is an example of what a 65-year-old woman might pay for Medigap Plan N:
| Company | Plan | Average Rate | Gender | State | |
|---|---|---|---|---|---|
| Aetna | N | $142.30 | Female | NV | |
| Mutual of Omaha | N | $98.98 | Female | OH | |
| Aetna | N | $231.45 | Female | CT | |
| United Healthcare | N | $124.80 | Female | CA | |
| Mutual of Omaha | N | $123.71 | Male | FL |
How Do I Enroll in Medicare Plan N?
In order to be eligible for Medicare Supplement Plan N, you must enroll in Medicare Part A and Part B. Most seniors will take this step when they turn 65 years old.
Following Medicare enrollment, the next 6 months are known as your Medigap Open Enrollment Period. Beneficiaries wishing to enroll in Plan N must apply and be accepted by the insurance carrier of their choice during this time. Applications submitted during the Medigap Open Enrollment period cannot be denied based on pre-existing conditions; therefore, enrollment at the proper time is critical.
Your open enrollment period automatically begins the month you meet both of these conditions:
- You are age 65
- You enroll in Medicare Part B
After the six-month open enrollment period has expired, you can still apply for a Medigap Plan N policy, but you are not guaranteed coverage. The insurance company may require medical underwriting, deny your application, or charge higher premiums based on pre-existing health conditions.
You do not have to renew your Medicare Supplement insurance each calendar year. Your Medigap policy is guaranteed renewable as long as you pay your Medicare Part B premium.
As you age, your health or financial conditions might change. Therefore, periodically reviewing your plan with a licensed insurance agent is an excellent practice to ensure the plan still fits your needs.
Plan N Reviews
Feedback on Medigap Plan N is very positive.
Pros of Plan N:
- No network restrictions
- Pays up to 80% for emergency care while traveling abroad
- Good coverage at a low cost
- Covers skilled nursing facility care
- Significantly lower premiums than other plans
- No out-of-pocket limits
Is Plan N Right for You?
Choosing among the various Medicare Supplement plans available can be challenging.
Medicare Plan N works well for Medicare beneficiaries who want strong coverage but are willing and financially able to pay a bit more out-of-pocket expenses. In return for assuming a bit more financial risk, you can significantly reduce your monthly premium.
Here is an example:
Medicare Plan G provides the most comprehensive coverage for new Medicare enrollees. Except for excess charges, Plan N offers the same coverage as Plan G. But with Plan N, you’ll pay a $20 copayment for an office visit and a $50 co-pay for an ER visit.
Here’s a look at how the monthly premiums compare for a 65-year-old female in Hartford, CT:
- Plan N $171.44 – $275.04
- Plan G $212.25 – $428.72
If you are healthy and do not have frequent doctor visits, and your healthcare providers accept Medicare’s approved amount, your premium savings will offset what you pay in copayments.
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Medigap Plan N Review:
Plan N ranks #2 among Medicare Supplement plans for new enrollees.
Plan N ranks #3 overall nationwide.
Our qualified agents are available to help you learn more about Medigap Plan N. We are happy to guide you through the process of identifying your individual Medicare needs, and we can help you avoid higher premiums by providing cost comparisons between insurance companies.
Ready to Learn More?
Choosing the right Medicare Plan is not a decision that should be taken lightly. With Policy Guide’s assistance, you will have access to the knowledge and expertise of professional agents who can help you compare different health plans, quotes, and policies to ensure that you make an informed decision. Let us guide you through this process, so that your chosen plan best suits your needs.
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