Medicare Supplement Plan N
Plan N is one of the Medigap coverage kings, along with Plans F and G. With the most benefits, they rank as the 3 most popular policies. Because it doesn’t cover the Part B deductible or doctor and emergency room visit copayments, Plan N has the least expensive premium of the 3.
What does Plan N cover?
Plan N takes care of:
- Part A coinsurance and hospital costs
- Part B coinsurance and copayment — except for a $20 copay for some office visits and up to $50 for emergency room visits
- Initial 3 pints of blood used in a medical procedure
- Part A hospice care coinsurance or copayment
- Skilled nursing facility coinsurance
- Part A deductible
- Emergency care while travelling outside the U.S. (80% to limits of plan)
Medigap Plan N matches Plan F and G coverage except for your Part B deductible, Part B surcharges, and the copayments for doctor ($20) and emergency visits ($50).
How standardization is good for you
You also get standardization with Plan N, which is helpful when choosing a policy from various insurance companies. Their prices may vary, but the benefits they offer are the same.
With identical benefits, you get:
Doctor Network – There’s no need to comparison shop for the company with the best network of providers. In the Medicare Supplement world, insurers don’t offer networks. Their plans supplement Original Medicare, so your network is more than 800,000 doctors, nationwide.
Claims-Paying Process – With automation, getting your claims into the Medicare system and paid is easier than ever. Your doctor will submit your claim to Medicare, and as soon as the claim is approved, your doctor will receive the portion due. Medicare will then contact your Medigap carrier to let them know what they need to pay out. The entire process is standardized, so as far as paying claims, it’s a level playing field.
When am I eligible for Medicare Supplement Plan N?
First, you have to be enrolled in Original Medicare (Part A and Part B) to buy Plan N. You must be a U.S. citizen and meet one of these criteria or more:
- You’re 65 or older
- You have a disability
- You’ve been diagnosed with End-Stage Renal Disease (ESRD).
What disqualifies you is being enrolled in a Medicare Advantage plan, which you can’t have at the same time you have a Medigap policy. If you have one, be sure to cancel your Medicare Advantage plan before your new coverage starts.
The best time to enroll in Plan N is during your Medigap Open Enrollment Period, which is the 6 month time before you turn 65. If you have a Medigap plan already, you can change carriers or plans any time within the year. It’s always a good idea to research which carrier offers the lowest cost, so we recommend seeing what’s out there on an annual basis. A medigapcoverage.com powered by pollen specialist can help — call us at 833-245-0614.
Be aware that you’re entitled to switch Medigap plans every year, any time you want. In certain states you may be required to answer medical questions, and depending on your health evaluation, you could be denied coverage. This is when it could really pay to have one of our specialists at your back.
What will Plan N cost me?
You will have to share costs in certain situations, such as the $20 doctor visit or the $50 emergency room visit mentioned above. And you’re responsible for your Part B deductible and any Part B surcharges that occur. Since Plan N is standardized, benefits will be the same nationwide, regardless of the carrier, but the private insurers who offer Medigap plans may have different costs — even in the case of matching benefits.
Medigap policy pricing is based on a rating system, which calculates premiums. Its 3 parts are:
- Community-rated — An identical premium is applied to everyone with the same policy, regardless of age
- Issue-rated — This premium is based on the age you were when the policy was bought, or “issued”
- Attained-age-rated — The premium is based on the age you’ve “attained,” i.e. your current age, so your premium will increase as you get older
Carriers can also factor in age, gender, location, and tobacco use in setting premium levels. Inflation could drive increases in premiums as well.
If you have any questions about Plan N or anything else Medicare related, just call a medigapcoverage.com powered by pollen at 1-833-245-0614
Still confused? Call us!
We’re here at 833-245-0614 to answer any questions, and ready to help with any issues you might have with an insurer through the enrollment process.
Table of Contents
FAQs
I’m considering Medigap Plans F or G. What about Plan N?
Plan N offers the same benefits as the other 2 most popular Medicap policies except for covering the Part B deductible or doctor and emergency room visit copayments. This why it has the least expensive premium of the 3.
What can I expect to pay for Plan N?
You’ll have to share costs in certain situations, such as $20 for doctor visit or $50 for emergency room visits. You’re also responsible for your Part B deductible and any Part B surcharges that occur.
What are the best Medicare supplement plans?
- Best overall Medicare supplement for new enrollees: Plan G.
- Best overall Medicare supplement before 2020: Plan F.
- Best low cost Medicare supplement: Plan K.
- Best alternative to Plan G Medicare supplement: Plan N.
What is a Medicare supplement plan?
Medicare Supplement policies are private health insurance designed to cover gaps in Original Medicare. They are also known as Medigap plans. These take care of costs such as copays, coinsurance, and deductibles which can become expensive if you need regular care from a doctor or hospital. If you need medical care while traveling outside the U.S., you can buy Medigap policies to help cover those costs. As a supplement to Original Medicare, you’re required to have Part A and Part B before you canget a Medigap policy. This way, Medicare is responsible for the Medicare-approved costs of the covered care, and the remainder is covered by your Medigap plan.
What is the most expensive Medicare supplement plan?
Optimal coverage comes with higher costs, making Plan F the most expensive Medigap plan. Plan F is known as “first-dollar coverage” and it takes care of everything provided during a doctor or hospital visit. Your only responsibility is for dental, vision, medications, and equipment, such as hearing aids.
Why is Plan F being discontinued?
The Federal government ended the Plan F option for new enrollees last year to keep the healthcare system from being overused by patients who had their deductibles covered. The next best coverage after Plan F is Plan G.
Is Plan G better than Plan F?
Medigap Plan G offers every advantage of Plan F except for the deductible, which you have to cover. Because it isn’t as comprehensive as Plan F, Plan G is more affordable.
What is the best and cheapest Medicare supplement insurance?
For people who don’t go to the doctor often, Plan K is worth considering. It is the most affordable because it provides just 50% of Medicare Part B coinsurance, the Part A deductible, blood, skilled nursing, and Part A hospice costs. For comparison, Plan G and others offer full coverage of these expenses, and more.
Is Medicare supplemental insurance worth it?
It’s hard to argue against plans which cut your traditional Medicare costs. For most people, having the extra coverage these supplemental plans provide is common sense, unless they want the specific features of a Medicare Advantage plan.
Do I really need supplemental insurance with Medicare?
Most people would benefit from not having to pay out-of-pocket to stay healthy. Medicare supplement insurance or a Medicare Advantage plan offer vital savings now, but are indispensable should a catastrophic health issue occur.
What is the most popular UnitedHealthcare Medicare Supplement plan?
Of the 10 Medicare-approved Medigap plans, Plan G and Plan N are the most popular. Plan F is no longer available to new Medicare enrollees as of 2020, but it is still popular among people who bought this plan prior to 2020.
How much does Medigap insurance cost?
- Plan F$128–$342
- Plan F (high deductible)$22–$88
- Plan G$106–$325
- Plan G (high deductible)$29–$58
Who qualifies for Medigap?
Before getting a Medicare supplement plan, you need to be enrolled in Medicare Part A (hospital insurance) and Part B (medical insurance). People with Medicare Advantage Plans who want to go back to Original Medicare can buy a Medigap policy prior to switching.
Is Medigap insurance worth the cost?
The security of having lower or no out-of-pocket healthcare costs can offset the premiums you’ll have to pay for whichever Medigap plan you choose, which vary depending on the benefits offered.
How Much Is Medigap per month?
The national average cost for Medicare Supplement Plan F is $1,824 annually, which is $152/month; Medigap Plan G will cost you around $143 per month.
Is Plan G the best Medigap plan?
Since Plan F was discontinued for new enrollees as of 2020, Plan G offers the most coverage for people 65 and older. It has a lower premium than Plan F and duplicates its benefits, except for the Part B deductible.
Is it better to have Medicare Advantage or Medigap?
It depends on your specific needs, but for most people a Medigap plan is very useful in supplementing the coverage of Medicare Part A and Part B. A Medicare Advantage plan is an affordable way to get healthcare coverage not offered by Original Medicare.
What is the most popular Medicare supplement plan?
Historically, Plan F has been the most popular because it covers all the out-of-pocket costs Medicare does’t pay for. This includes the 15% extra charge billed by providers who do not take Medicare as full payment.
Does Medigap cover prescription drugs?
Since January 1, 2006, no Medigap policy came with prescription drug coverage. You have two options to get covered, enrolling in either a Medicare Prescription Drug Plan (Part D) or a Medicare Advantage plan.