Medicare Supplement Overview
Understanding Medicare Supplement Plan N
Navigating your Medicare options can feel complicated, but finding the right coverage is essential for your peace of mind and financial security. Medicare Supplement plans, also known as Medigap, help cover costs that Original Medicare doesn’t. Among the various options, Plan N has become a popular choice for its balance of comprehensive coverage and lower monthly premiums. This guide will walk you through the details to help you decide if it’s the right fit for you.
Keep reading or jump to our Highlights and Frequently Asked Questions.
What is Medicare Supplement Plan N?
Medicare Supplement Plan N is one of the standardized Medigap plans available to individuals enrolled in Original Medicare (Part A and Part B). It is designed to fill the “gaps” in your coverage, such as deductibles, copayments, and coinsurance, which can lead to significant out-of-pocket expenses. Plan N offers a unique cost-sharing structure that helps keep premiums more affordable compared to other comprehensive plans like Plan F or Plan G.
What Does Plan N Cover?
Plan N provides substantial coverage for many of the costs associated with Original Medicare. When you have this plan, you can expect the following benefits:
- Medicare Part A Coinsurance and Hospital Costs: Plan N covers the Part A coinsurance for hospital stays, giving you an additional 365 days of coverage after your Medicare benefits are exhausted.
- Medicare Part B Coinsurance or Copayment: For most medical services, Plan N covers the 20% Part B coinsurance. However, there are a few exceptions where you will have a small copayment.
- Blood (First 3 Pints): The plan covers the cost of the first three pints of blood needed for a medical procedure.
- Part A Hospice Care Coinsurance or Copayment: You are covered for hospice care coinsurance or copayments.
- Skilled Nursing Facility Care Coinsurance: The plan covers coinsurance for skilled nursing facility stays.
- Medicare Part A Deductible: Plan N covers the Part A deductible, which is the amount you pay for each hospital benefit period.
- Foreign Travel Emergency: It provides coverage for medical emergencies when you are traveling outside the United States, paying 80% of costs up to the plan limit.
What Are the Out-of-Pocket Costs with Plan N?
To maintain lower premiums, Plan N requires you to share some minor costs. These predictable out-of-pocket expenses are what set it apart from other Medigap plans.
- Doctor’s Office Visits: You may have a copayment of up to $20 for some office visits.
- Emergency Room Visits: A $50 copayment is required for emergency room visits that do not result in an inpatient admission.
- Part B Excess Charges: Plan N does not cover Part B excess charges. These are additional amounts that doctors who do not accept Medicare assignment can charge you (up to 15% above the Medicare-approved amount). It is important to confirm that your doctors accept Medicare assignment to avoid these charges.
For a complete comparison of what different Medigap plans cover, you can visit the official U.S. government site for Medicare at Medicare.gov.
Medicare Can Be Confusing
We understand. That's why we wrote a simple guide to help you decipher the terms, makes sense of the options and gain enough insight to make an informed decision.
If you're not ready to reach out to Bob and the Insurance Connection team, please grab your free copy of The ABC’s & D of Medicare. Learn More
Medicare Supplement Plan N
Frequently Asked Questions
Is Plan N a good choice if I am healthy?
Yes, Plan N can be an excellent option for healthy, active individuals. Because you are less likely to need frequent doctor or emergency room visits, you can benefit from the lower monthly premiums while still having strong protection against major, unexpected medical costs.
Can I be denied coverage for Plan N?
During your 6-month Medigap Open Enrollment Period, which starts the month you are 65 or older and enrolled in Part B, insurance companies cannot deny you coverage or charge you more due to pre-existing health conditions. Outside of this window, you may be subject to medical underwriting, and coverage is not guaranteed.
Why would I choose Plan N over Plan G?
The main reason to choose Plan N over Plan G is the lower monthly premium. Plan G offers slightly more coverage (it covers Part B excess charges), but if you are comfortable with the small copayments and are willing to ensure your doctors accept Medicare assignment, Plan N can provide significant savings over time.
Insurance Connection USA is a division of Garrison Enterprises a licensed Insurance agency and not connected with or endorsed by the United States government or the federal Medicare program. We do not offer every plan available in your area. Any information we provide is limited to those plans we do offer in your area. Please contact Medicare.gov or 1-800-MEDICARE to get information on all of your options. Medicare has neither reviewed nor endorsed this information. Not connected with or endorsed by the United States government or the federal Medicare program.
Important Highlights
Plan N offers a balance of comprehensive coverage with lower monthly premiums by introducing some cost-sharing.
To avoid extra costs, it’s important to use doctors who accept Medicare assignment, as Plan N does not cover Part B excess charges.
Contact Medicare Support
Monday – Friday
9:00am – 5:00pm CST
Click to Call:
940-382-4700