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Medicare Supplement Plan N Rates, Benefits & Coverage

When deciding on which Medicare  Supplement you’re going to purchase, Medicare Supplement Plan N deserves a little bit of consideration. Once you learn more about this plan, you might decide that it’s a great alternative to other Supplement plans because Medigap Plan N rates are cheaper. Beneficiaries of this plan can enjoy additional benefits on top of the standard Medicare benefits — such as help with medical expenses and health care — but can enjoy some of the best rates among those who have Medicare Supplement plans. Of course, you should do a comparison of Medicare Supplement Plan N rates and benefits before deciding if this plan is right for you, and this quick guide — as well as our licensed insurance agents — can help you do your comparison and make the right decision.

Medicare Supplement Plan N Costs, Coverage and Benefits

You may want to learn about the basic benefits, monthly premiums, plan options and plan limits before signing up for Medicare Supplement Plan N. After all, you could be wondering if this plan will help with medical services, medical expenses, hospital costs and other health care costs that the Federal Medicare program does not pay for. Here are answers to some common questions about this Medicare Supplement plan.  medicare supplement plan n benefits

How Does Medicare Plan N Fill in the Gaps of Original Medicare?

Medicare Plan N will help fill in some of the gaps in coverage that you might be dealing with right now with Original Medicare. It’ll help with covering some of your deductibles and coinsurance and will provide additional coverage when your Medicare coverage runs out. For example, once your hospital coverage runs out from Original Medicare, Plan N will pick up the slack.

How does Medicare Plan N cover Medicare Part A Deductible?

The Medicare Part A deductible is covered by Medicare Supplement Plan N.

How does Medicare Plan N cover Medicare Part A coinsurance?

Your Medicare Part A coinsurance will be covered by this Medicare plan. After your Original Medicare benefits are exhausted, your Medicare Supplement insurance Plan N will cover hospital coinsurance and hospice care coinsurance.

How does Medicare Plan N cover Medicare Part B deductible?

The Medicare Part B deductible is not covered by this Medicare Supplement plan.

How does Medicare Plan N cover Medicare Part B coinsurance?

Medigap Plan N will pay for 100% of your Medicare Part B coinsurance costs, except for a small copay that will have to be paid for doctor’s office visits or emergency room visits.

How does Medicare Plan N cover at the docs office?

You will have to pay a $20 copayment at the doctor’s office.

How does Medicare Plan N cover at the hospital?

If you go to the emergency room, you will have to pay a $50 copay. Beyond this copay, your Medicare Supplement plan will cover the costs of your hospital visit for up to 365 days after your Original Medicare benefits run out.

How does Medicare Plan N cover a skilled nursing facility?

Skilled nursing facility care coinsurance is included in your Supplement plan.

How does Medicare Plan N cover blood transfusion?

Up to 3 pints of blood are covered per year when needed for a medical procedure.

How does Medicare Plan N cover Part B excess charges?

No, Part B excess charges are not covered as a part of your plan.

How does Medicare Plan N cover foreign travel emergency care?

Medicare Plan N will cover up to 80% of emergency care for foreign travel, up to your plan limits.

How does Medicare Plan N cover physical therapy?

You will have to pay a $20 copay for physical therapy visits.

How does Medicare Plan N cover hospice care?

Hospice care is covered by this Medicare Supplement plan.

How does Medicare Plan N cover emergency room visits?

You will be required to pay a $50 copay each time that you visit the emergency room.

Are there network restrictions with Medicare Plan N?

No, you will not have any network restrictions with Medicare Plan N. Your coverage will work anywhere that Medicare is accepted. This is not the case with Medicare Advantage plans, which is one reason why Medicare Supplement plans are often ideal.

Will I have to pay my Medicare Part B premium as well?

You will be required to pay your Medicare Part B premium as well as paying your monthly premium for Medicare Plan N.

Medicare Supplement Plan N Rates

There are three different calculation methods that are used when your Medicare Supplement plan premiums are determined.

  • Community-rated – All customers are charged the same rate with a community-rated plan.
  • Issue age – If your insurance company used this method of calculating rates, your rates will be based on your age when you first sign up for your plan. You do not have to worry about your monthly premium going up as you age.
  • Attained age – With this method, your rate is based on the age that you are at the time that you pay your premium. As you age, your rates will go up.

Many people choose Medicare Supplement Plan N because Medicare Supplement Plan N rates are generally more affordable than the other Medigap policy options. This is true for a few reasons. For one thing, your Medicare Supplement Plan N rates will be lower because you will not have quite as much coverage. Since you have to pay some copays, such as for doctor’s office visits, your insurance company will be able to offer a lower rate.

Additionally, since underwriting is involved when enrolling in Medicare Supplement Plan N, there are usually healthier individuals enrolled in the plan. This is another reason why Medicare Supplement Plan N rates are often more affordable.

In general, this is a good plan to look into if you would like to have an affordable monthly premium and if you don’t mind sharing some of the costs. You can get an especially good deal if you are willing to compare the best Medicare Supplement Plan N providers — with the help of an insurance agent, if necessary — to find the best rate for Medicare Supplement insurance Plan N.

Our Best Rated Companies Offering Medicare Supplement Plan N

Here at My Medigap Plans, we have access to information about almost all of the Medicare Supplement Plan N options that are available. There are a few different companies that offer Medigap Plan N, but we feel these are a few of the best Medicare Supplement Plan N providers:

Of course, you can compare plans from other companies. We recommend the companies listed above for your Medigap policy, whether you choose Medigap Plan N or another plan, for these reasons:

  • Top financial strength and ratings
  • Long history in the health industry
  • Great tools and ease of access at all points of the process
  • Great customer service
  • Competitive rates and stability over time
  • Customer satisfaction

Medicare Supplement Plans N vs. Medicare Plan F

As you might know, Medicare Plan F is actually the most popular plan across the United States. You could be wondering if Medigap Plan N might be a better option for you, though. When you compare the two, you might see that Medigap Plan N is actually an ideal solution when compared to just having regular Medicare benefits or choosing another one of the Medicare Supplement plans.

  • How are benefits different from Plan N compared to F? Both plans are designed to provide additional benefits on top of the standard Medicare benefits. Medicare Plan F does offer more coverage than Medicare Plan N. For example, the Medicare Part B deductible and Medicare Part B excess charges are covered by Medigap Plan F but are not covered by Medicare Supplement Plan N.
  • How do the rates compared to Plan F? Even though you will have to share costs in some situations — such as when you head to the doctor’s office — if you choose Medigap Plan N, your monthly premium will generally be significantly lower than for Medigap Plan F. You will not have to pay a high deductible, however. Many people feel that paying a small deductible from time to time is worth it in exchange for a lower premium from their health insurance company.
  • Is there a change in my access to doctor’s or hospital networks compared to Plan F? No. There are no network restrictions to worry about with either plan.

Medicare Supplement Plan N vs Medicare Plan G

Although not as popular as Medicare Plan F, Medicare Plan G is another one of the popular health insurance Supplement options that you can choose from. You may want to compare the health care benefits of these two Medicare Supplement plans so that you can make the right choice.

  • How are benefits different from Plan N compared to Plan G? Medicare Plan G covers Plan B excess charges, but Medicare Supplement Plan N does not. Neither plan covers the Plan B deductible. Both plans offer additional health insurance, but Plan G does offer a little more coverage.
  • How do the rates compare to Plan G? Medicare Plan N rates are typically 25% to 35% cheaper than Medicare Supplement Plan G rates. The best Medicare Supplement Plan N companies will offer the best rates so you can maximize your savings.
  • Is there a change in my access to doctors or hospital networks compared to plan g? No. You do not have to worry about network restrictions with either plan. Beneficiaries of either plan can enjoy their benefits anywhere that Medicare is accepted.

Does Medigap Plan N cover prescription drugs?

Medicare Plan N is designed to help fill in the gaps that are left behind from Original Medicare Parts A and B. Since Original Medicare is not designed to cover the cost of prescription drugs, Medicare Plan N will not help with these charges either. If you want to reduce the cost of your prescription medication, signing up for a Medicare Part D drug plan is a good idea. Be aware that if you don’t sign up for a Medicare Part D drug plan now, you could be penalized later if you try to sign up. Therefore, signing up as soon as possible is smart to help you avoid higher rates later and to help you enjoy the most coverage possible right now.

When can you enroll in Medicare Supplement Plan N?

When you turn 65 and are signed up for both Medicare Part A and Medicare Part B, you will be in the six month Medigap Open Enrollment Period. This period is important because you can easily apply. Be aware that some companies do require medical underwriting before you can be approved. This does not mean that you can’t get coverage, though. We can help you with that; just give us a call and talk to one of our Medicare Supplement specialists who can assist you in choosing the best company and plan for your situation. The different companies handle underwriting differently, and we can help you find a company that will work well for you.

Medicare Supplement Plan N Review?

There is a lot of information out there about the different Medicare Supplement plans. When compared to the other Medicare Supplement plans, these are some of the things you’ll want to know about this health insurance option:

  • You will still be enrolled in Medicare Part A and Part B if you choose this plan, so you’ll still have the benefits that beneficiaries who are enrolled in Medicare Part A and Part B enjoy.
  • If you’re willing to cover some costs yourself that aren’t covered by Medicare Part A and Part B — such as copays — but if you’d like to have a more affordable monthly premium — then the Medicare Supplement Plan N rates and coverage might be right for you.
  • Beneficiaries don’t have quite as much coverage with Medicare Supplement Plan N as they do with Medicare Supplement Plan F, but the Medicare Supplement Plan N rates are significantly cheaper.

Also, along with understanding the difference between Medicare Supplement Plan N and the other Supplement plans that are available, you should also understand the difference between Medicare Supplement Plan N and the Medicare Advantage plans that are available. With Medicare Advantage plans, you replace your Original Medicare coverage completely. Instead of having Original Medicare and a Supplement, you have one plan through your chosen insurance company. Medicare Advantage plans do sometimes offer additional coverage, such as a prescription drug plan and coverage for things like dental, vision and hearing. However, there are often network restrictions that you have to worry about.

You may need help deciding if you are interested in a Medicare Advantage plan or a Medicare Supplement plan. If you decide that you are interested in Medigap plans like Medicare Supplement insurance plan N, we can help you find the best Medicare Plan N rates. We can also help you decide which plan is best for you. For example, if you’re willing and able to pay more than the Medigap Plan N rates each month, we can help you find the best plan and the best coverage for your needs. We know that all beneficiaries of Medicare are different and have different needs and preferences, so we will talk to you about the best benefits of each plan and will help you make the best choice.

Our agents are licensed agents who have a solid understanding of Medicare Advantage and Medicare Supplement insurance and the benefits of each. We would love to talk to you about your budget, health, and preferences for benefits to help you choose the right plan from the right provider. Call us today so that we can assist you with signing up for Medicare Supplement insurance or a Medicare Advantage plan so that you can enjoy the best benefits for you.  Our answering service is also available 24 hours a day if you’d simply like to request a call back from one of our licensed agents.