Like all Medigap policies, Medicare Supplement Plan N is made to fill in the coverage gaps of Original Medicare.
Let’s look more closely at Medicare Plan N and why shoppers like the concept of being responsible for small yearly deductible and a few copays in exchange for lower premiums
Medicare Supplement Plan N
Plan N is one of the most popular plans because of the balance between low monthly premiums and coverage benefits. Let’s see if Medigap Plan N is a good fit for your budget and coverage goals. Make sure to check out the other Medicare plans available below.
What Medicare Supplement Plan N Covers
Original Medicare usually provides 80% coverage of approved costs. Medigap Plan N gives you the 20% coverage that Medicare Part B doesn’t. Plan N will also provide coverage for your hospital copays, coinsurance and deductible.
What Medicare Plan N WON’T Cover
Although Plan N provides excellent coverage, it won’t cover everything. You will be responsible if there are any excess charges. You’ll also have to pay for your Part B deductible as well as some co-payments at the emergency room and your physician’s office.
|Medicare Supplement Benefits||Plan N covers?|
|Medicare Part A coinsurance & hospital costs (up to additional 365 days after medicare benefits are used||YES|
|Medicare Part B coinsurance or copayment||YES|
|Blood (first 3 pints)||YES|
|Part A hospice care coinsurance or copayment||YES|
|Skilled nursing facility care coinsurance||YES|
|Part A deductible||YES|
|Part B deductible||NO|
|Part B excess charges||NO|
|Foreign travel emergency (up to plan limits)||YES|
Plan N Doctor’s Office Coverage
It’s important to remember that preventative care is taken care of by Original Medicare. These are services such as:
- Cancer screenings
- Diabetes screenings
- Cardiovascular screenings
- Annual checkups
- and more
These standard services will cost you nothing because they are under the standard Medicare preventative care services. With Medigap Plan N, you’ll receive coverage for:
- Durable medical equipment
- Home Health
- Lab work
- Dr visits for illness and injuries
- Imaging testing
- Diabetic supplies
- and more
Just know that if Medicare Part A or B provides coverage for your issue, then your Medigap plan will cover it. Your Medicare supplement will pay 20% and Original Medicare will pay 80%. Medicare send the bill to your Medigap company, so you don’t have to even worry about it!
Plan N Hospital Coverage
The Medicare Part A hospital benefits will provide you coverage for Medicare approved services such as:
- Inpatient hospital services
- Skilled nursin
- Blood transfusions
- Home health
Typically you would pay deductible with any hospital stay, but your Medicare supplement Plan N will pay that deductible for you.
Medicare Supplement Plan N Is Standardized
You may be wondering, “Plan N is Standardized – What’s that?”
Before buying a Medigap Plan N you’ll want to get quotes from several companies. However it is really important that you get familiar with what Medicare supplement standardization means.
Here’s the deal: Medigap plans were standardized starting in 1991.
Standardized plans simply means that when you compare Plan N pricing from the various Medigap insurance carriers, you can feel at ease that a Plan N from every insurer will have the same benefits such as:
- No Networks: You aren’t handcuffed to certain networks when you use Medicare supplement insurance. The reason is that Medigap plans simply supplement Original Medicare. In other words, you have access to any doctor who accepts Medicare – and over 90% of the physicians accept Medicare!
- Coverage: All Medigap Plan N’s must have the exact same coverage that we posted above, no matter which insurance company you purchase your Medigap plan from. You never have to stress if one company has better benefits with their Plan N over a competitor. All of Plan N benefits are the same.
- Claims : The claims process with Medigap is streamlined and simple compared to other types of insurance. Your doctor submits your claims directly to Medicare (not your Medigap insurance carrier). Medicare identifies your Medigap plan and Medicare Supplement company. As soon as your claim is approved by Medicare, your doctor is paid. Your Medicare supplement company is then notified and instructed to pay the remaining amount due to your doctor. Your Medicare supplement company is required (by law) to pay their portion of costs if Medicare approves your claim. Companies aren’t able to pick and choose if they want to pay or not; they must follow Medicare’s lead. You’ll have peace of mind knowing that all Medicare-approved claims are paid by all companies offering Medigap plans.
Reviewing and understanding the above details about Medigap standardization makes it simple to compare rates and pick a Medicare supplement Plan N from any of the available companies. It comes down to which company provides the greatest value for Medicare supplement Plan N.
Is Medicare Supplement Plan N Right for You?
Choosing the right Medigap insurance plan means considering the price of the Medicare supplement plan along with what’s covered and what’s not. It is equally important to understand any drawbacks, like if the plan covers deductibles and excess charges.
Luckily, there is help available that can bring all of these details into focus for you and help you shop for the best deal. At REMEDIGAP, you’ll get expert one-on-one help from our independent licensed agent. You’ll never be pressured to buy one plan over another. You’ll get quotes from the most popular plan like Plan N, Plan G and more. You’ll even get free tips like understanding Plan N vs Plan G.
We’ll spend the time to educate you on all your options and you can simply choose which plan meets your financial goals and coverage needs. Call us today or get started now with a free online Medigap quote.