Medicare Supplement Plan N
Medicare Supplement Plan N is one of the standardized Medicare Supplements plans available in 47 states of the United States, except in Massachusetts, Minnesota, and Wisconsin. In other words, the Plan N that’s offered in one state provides the same coverage as the Plan N that’s offered in another state, regardless of the carrier. However, if you’re living in any of the three states mentioned above, you will have to buy a different form of coverage as they do not offer this plan.
Medicare Supplement Plan N is a budget-friendly Medigap plan. It is similar to Plan G but can be considered Plan G’s step-down option. This is because it offers the same benefits as Plan G but has potentially more out-of-pocket costs.
What Does Medicare Supplement Plan N Cover?
Medicare Supplement Plan N covers the following:
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Medicare Part A coinsurance and hospital costs up to an additional 365 days after Medicare benefits are used up
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Medicare Part A hospice care coinsurance or copayment
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Medicare Part A deductible
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Medicare Part B coinsurance, except for a copayment of $20 for office visits and a $50 copayment for emergency room (ER) visits that do not result in hospitalization.
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The first three pints of blood used in a procedure
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80% of foreign travel emergency medical costs
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Skilled nursing facility care coinsurance
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Medicare preventive care Part coinsurance
However, enrollees in Medicare Supplement Plan N are responsible for the following expenses:
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Part B deductible
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Part B excess charge
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Part of the copayments for doctor and emergency room (ER) visits that are not covered by Medicare Part B.
Who Can Benefit From Medicare Supplement Plan N?
Medicare Supplement Part N is a good option for people who:
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Want a lower monthly premium
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Want significant coverage
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Do not frequently visit the doctor or the hospital
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Are not bothered about excess charges
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Do not mind small copayments
How Much Does Medicare Supplements Plan N Cost?
The average cost of Medigap Plan N can range from $90 and $120, although it can be as high as $200 in some states and as low as $80 in other states. Rates are determined by age, gender, location, pricing method, and, sometimes, present medical history.
With Medigap Plan N, you pay copays for some medical services: $20 for each doctor visit and $50 for each emergency room (ER) visit that doesn’t result in inpatient admission.
When Can I Enroll In Medicare Supplement Plan N?
The ideal time to enroll for Medigap is within 6 months of your Medicare Part B effective date. Starting from the month you turn 65 (if you are enrolled in Original Medicare or Medicare Part B), you have a six-month open enrollment period.
Once this period closes, it cannot be repeated or shifted. Also, you may or may not be able to enroll in a Medigap plan. Outside of your one time Medigap Open enrollment window you will have to medically qualify for the coverage. An insurance company can charge you more for the same coverage or deny you coverage
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