Medigap Plan N

Medigap Plan N-Is It Right the Choice For You?

Medigap Plan N Coverage

  • Hospitalization: pays Part A coinsurance and provides coverage for 365 additional days after Medicare benefits end.
  • Medical Expenses: pays Part B coinsurance (excluding copays for office visits and ER) and 20% of Medicare-approved expenses or copayments for hospital outpatient services.
  • Blood: pays the first 3 pints of blood annually. Original Medicare pays for any pints beyond 3.
  • Hospice Care: pays Part A coinsurance.

Furthermore, Medigap Plan N pays for skilled nursing facility care and the Medicare Part A deductible for hospitalization.

There are some things Medigap Plan N will not cover. It does not cover the Medicare Part B deductible or excess charges. Excess charges are the difference in cost between what a health provider charges for a medical service and the Medicare-approved amount. It also will not cover the copay or coinsurance for doctor’s office and emergency room visits.

Medigap plans have been standardized by the federal government. This means that the only difference in plans offered by one insurance company is the monthly premium. You are eligible to purchase a Medicare supplement insurance plan if you are currently covered under Medicare Parts A and B, are about to turn 65 or are about to receive Part B coverage.

There are 11 Medigap plan options in total. They are labeled A, B, C, D, F, high-deductible F, G, K, L, M, and N. Medicare plans E, H, I, and J are no longer available.

How does Plan N compare to other Medigap Plans? It provides more coverage than Plans K and L. Furthermore, it covers 100% of the Medicare Part B coinsurance and copayments, whereas K and L only pay 50% and 75%, respectively. The plan covers less than Plan F or G, for that reason these plans cost more in premium.

Consequently, Medigap Plan N costs about 25% less than other plans such as Plan G or Plan F.  A lower cost also means that Plan N will fill in fewer gaps in Medicare coverage.  Out-of-pocket expenses beyond the monthly premium are a $20 copay for office visits and a $50 copay for a trip to the ER.

Choosing the right supplemental insurance means considering the costs of the Medigap plan and possible out of pocket costs. These can include the Medicare Part B deductible and the copays required for doctor’s office and emergency room visits.  Finally, depending on your budget Medigap Plan N may be the best supplemental plan choice.

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