Medicare Supplement Plan N also called Medigap Plan N or Medicare Plan N is one of the ten standardized plans of Medicare Supplements. Standardized means it has the same benefits across different insurance company provider.
Just like other types of Medigap plans, Plan N is designed to pay for the out-of-pocket costs not covered by Original Medicare (Parts A and B). It fills the coverage gap for the hospital, skilled services, and other medical services.
What does Medigap plan N cover?
This plan covers the following benefits:
- Part A coinsurance and hospital costs up to an additional 365 days after Medicare benefits are used up
- Part B coinsurance or copayment
- Blood (first 3 pints)
- Part A hospice care coinsurance or copayment
- Skilled nursing facility care coinsurance
- Part A deductible
- Foreign travel exchange (cover 80%, up to plan limits)
It doesn’t cover:
- Part B deductible
- Part b excess charges
Medigap Plan N offers similar benefits to other Medigap plans such as Plan F, but it is more closely comparable to Plan D. The only slight difference that Plan N has from Plan D is how it covers Medicare Part B coinsurance and copayment costs. In Medicare Supplement Plan N, Medicare Part B coinsurance is paid 100%, not including up to copayment for some office visits and copayments of up to for emergency room visits that don’t result in an inpatient admission.
Compared to plans with comprehensive coverage, it generally costs less which makes it more appealing to most people.
How much does this plan cost?
Though the benefits of Medigap insurance plan N remains the same no matter where you get it, its cost varies. Medigap premium is determined by various factors such as age, location and rating system of the insurance companies.
Shop around different insurance providers to find the one that offers the best value for your money.
The average monthly premium of Plan N in 2018 is $210.
Is Medicare Supplement Plan N Right For You?
Choosing the best Medigap Plan involves consideration of the premiums, what the plan covers and what it does not. If you are eyeing to enroll in Medigap plan N, you should consider the cost of Medicare Part B deductible and the deductibles that you need to pay out-of-pocket for each doctor’s office and emergency room visits compared to the cost of the plan premium.
Though the benefits offered by this plan may seem enough, it is still not the most comprehensive one. It is best to review and compare all the other types of Medigap plan before making a final decision.
If you need help, feel free to reach us by sending us a free Medigap quote request. One of our licensed insurance agents will be happy to contact you to discuss Medigap with you.
The website and all of its contents are for informational purposes only. Nothing on this website should substitute any professional medical advice.