When it comes to choosing a Medicare plan, you have several choices. This is a good thing
Also called Medicare Supplement Plan N, Medigap Plan N was made for people who want to pay a lower premium as a substitute for paying a small annual deductible and some copays.
All Medigap Plan N policies are the same, regardless of which insurance company you choose. You can locate Plan N policies in many states.
What Medigap Plan N Covers
This Medicare supplement covers the 20% that Part B doesn’t. Also, it pays for your hospital deductible and all your hospital copays. On the flipside, you’ll pay your own excess charges, Part B deductible, and a few small copays at the doctor’s office and the ER.
Before you enroll, you can ask your Medicare agent for a coverage outline that will provide in-depth details.
Medigap Plan N Benefits
- Medicare Part A coinsurance and hospital costs (up to an additional 365 days after Medicare benefits are exhausted)
- Medicare Part B copayment
- First 3 pints of blood during a medical procedure
- Part A hospice care copayment
- Skilled nursing facility coinsurance
- Medicare Part A deductible
- Foreign Travel Emergency (up to plan limits)
What Does Plan N Cover at the Doctor’s Office?
Medicare fully covers your standard preventative care, like screenings for diabetes and cancer, plus annual physicals, vaccines, and other tests.
In addition, Plan N coverage will include doctor’s visits for injury and illnesses, ambulance rides, surgeries, durable medical equipment, lab work, home health, and many other services. Remember that if Original Medicare covers it, then your Medicare Supplement will cover it, too. Medicare pays 80% and then transfers the bill to your Medigap plan.
Medigap Plan N Costs
Medigap Plan N offers identical benefits to Plan F, but you agree to pay a portion of a few items that you wouldn’t pay with Plan F. First, you say yes to paying the small annual Part B deductible, which is $198 in 2020. You’ll also pay copayments up to $20 for doctor’s appointments. Visits to the ER involve a $50 copay.
Lastly, people with Medicare Supplement Plan N pay excess charges to various medical providers. These providers may charge 15% more than what Medicare grants. This is called an excess, or extra charge. Plan F or G would cover this for you, but Plan N does not. Excess charges can occasionally result in small bills.
With that being said, you can avoid these charges by asking your providers if they accept Medicare assignment. If they answer yes, you don’t need to worry about excess charges. Another option is an alternative to Plan N — Plan G, which is only a little more expensive.
Medigap Plan N Eligibility
You’re eligible to enroll as long as you have Medicare Parts A and B, and you live in the plan’s services area. It’s best to enroll in Plan N during your Medigap open enrollment period, which begins with your Part B active date. During this six-month window, no insurer can reject your application for health reasons.
If you need Plan N quotes or you have additional Medigap questions, Cornerstone Senior Advisors can help. Call our office in Wichita, Kansas at (316) 260-3331.