Medigap Plan N 2024 - The Best Plan?
Medigap policies offer you a way to save on the out-of-pocket healthcare expenses not covered by Original Medicare Parts A & B.
With Medigap Plan N, you get all the coverage you need in a medical emergency at an affordable monthly premium.
What does Medigap Plan N cover? Plan N is available from several leading healthcare insurers nationwide at different rates.
The Federal government standardizes the Part A & B benefits in Medigap policies, meaning you get the same basic coverage across all insurers when you take a Plan N policy.
However, the additional benefits and premiums can vary between providers.
This post aims to give you all the information you need on Plan N and how to enroll in a scheme with the ideal insurer in your state.
Ask the Professionals about Medigap Plan N – We Provide a Free Consultation
We know you probably have a lot of questions about Medigap policies and how they work.
Call our team at 1-888-891-0229 for assistance. We offer free consultations to help you clear the confusion and find the right Medigap policy for your unique situation.
If you can’t talk right now, leave your details on the contact form, and we’ll get a fully licensed agent to call you back.
Alternatively, if you want to cut to the chase and get a free quote on Plan N & G at the best rates in your state, use our online quoting tool.
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What Is Medigap Plan N & How Does it Work?
Medicare Supplement Plan N has some of the most affordable premiums while offering excellent coverage in medical emergencies.
It’s the ideal choice for seniors who rarely visit the doctor or emergency room but want the best coverage for the out-of-pocket expenses incurred by Medicare Parts A & B in a medical emergency.
Medigap Plan N covers the following.
- The 20% of out-of-pocket expenses that Original Medicare doesn’t.
- The Part A hospital deductible.
- Part A hospital copays and coinsurance.
In a minute, we’ll break down the full benefits of Plan N and what it does and doesn’t cover.
Plan Options & Providers
There are ten Medigap plans (A, B, C, D, F, G, K, L, M, N) sold by private insurance firms across the United States. Both Plan F & G also have high-deductible versions available.
However, not all providers operate in all states, and some don’t offer all ten Medigap plans.
All providers must offer Plan A, but they can pick and choose the other plans they host in their offering.
Standardization of Medigap Plans
The Federal government standardizes the benefits offered in all ten Medigap Plans. This strategy ensures consistency in the benefits and coverage beneficiaries’ recipe on their plan, regardless of the insurer they use or where they are in the United States.
However, Wisconsin, Minnesota, and Massachusetts have different rules applying to the standardized coverage offered in Medigap.
If you live in these states, call us for expert advice on the benefits and coverage available through Medigap.
Spousal Independent Policy Coverage
Your Medigap Plan N policy only covers you. Your spouse or other members of your household need an independent policy.
Most providers offer household or multiple-policy discounts if someone from your household joins their Medigap scheme or if you take multiple policies, such as Plan N and Part D drug insurance coverage.
A Brief Breakdown of Medigap Plan N Benefits
Plan N offers you the following coverage for Medicare Parts A & B expenses incurred in outpatient and inpatient care.
- 100% of Part A coinsurance and hospital costs up to an additional 365 days after using up your Medicare benefits.
- 100% of the Part A deductible.
- 100% of Part A hospice care coinsurance or copayment.
- 100% of the first three pints of blood in medical procedures.
- 100% of skilled nursing facility care coinsurance.
- 100 % of Part B coinsurance or copayments.
- 80% of medical expenses incurred in foreign travel outside the US.*
*A $250 deductible applies, and you have a $50,000 lifetime maximum.
What Isn’t Covered Under Medigap Plan N?
Plan N doesn’t cover the Part B deductible for Original Medicare ($226 for 2023).
It also doesn’t cover the Part B excess charges incurred by consulting with medical professionals charging more than the Medicare-approved amount, also known as “Medicare Assignment.”
Medicare Part B Excess Charges
Medicare Part B provides essential coverage for outpatient services, doctor visits, and medical supplies.
However, it’s important to be aware of potential Medicare Part B excess charges that can impact your healthcare costs.
We will explore what Medicare Part B excess charges are, how they can affect you, and how to navigate this aspect of your Medicare coverage.
What are Medicare Part B Excess Charges? Medicare Part B excess charges refer to additional fees that healthcare providers can charge for services beyond the Medicare-approved amount.
While most doctors accept Medicare’s approved rates as full payment for their services, some healthcare providers may choose to charge more.
These excess charges are allowed under certain circumstances and can result in higher out-of-pocket costs for beneficiaries.
How Do Medicare Part B Excess Charges Affect You? If you receive care from a healthcare provider who charges excess fees, you may be responsible for paying the difference between the Medicare-approved amount and the provider’s charge. These excess charges can significantly impact your healthcare expenses and lead to unexpected costs.
Navigating Medicare Part B Excess Charges:
1. Research and Choose Participating Providers: One way to avoid excess charges is to choose healthcare providers who participate in Medicare and accept the approved rates as full payment. Before scheduling an appointment, verify if the provider accepts Medicare assignment to ensure you won’t face excess charges.
2. Understand Non-Participating Providers: If you prefer to see a healthcare provider who doesn’t participate in Medicare, be aware that they may charge excess fees. In such cases, it’s crucial to understand your rights and responsibilities and determine if the additional costs are worth it.
3. Consider Medigap Plans: Medigap, or Medicare Supplement, plans can help cover excess charges. Some Medigap plans provide coverage for Part B excess charges, ensuring you are protected from these additional costs. Research different Medigap plans to find one that suits your needs.
4. Review Medicare Advantage Plans: Medicare Advantage plans, also known as Part C, may have different rules regarding excess charges. If you’re enrolled in a Medicare Advantage plan, review the plan’s terms and conditions to understand how excess charges are handled.
Being aware of Medicare Part B excess charges is essential for Medicare beneficiaries. Understanding your options and making informed choices can help you avoid unexpected expenses and protect your financial well-being.
Research participating providers, consider Medigap plans, and review your coverage carefully to ensure you have the necessary protection and knowledge to navigate Medicare Part B excess charges successfully.
Remember, being proactive and well-informed is key to managing your Medicare coverage effectively.
Medigap Plan N and Other Coverage
Plan N doesn’t cover the costs of prescription medications, long-term care at unskilled nursing facilities, and preventative medical care associated with vision, dental, and hearing services.
However, some providers may include dental, vision, and hearing as additional perks if you take a policy with them.
So, if you require hearing, dental, and vision, speak to our consultants. We can find you a Plan N policy from a provider in your state that covers these costs in your Plan or for a nominal monthly fee on top of your Plan N premium.
How Do I Get a Medigap Plan N Policy?
Medigap Plan N is available from private healthcare insurers like Humana, AARP, Mutual of Omaha, Aetna, and many others.
The best way to find the right insurer in your state offering you the lowest premiums is to consult with our team.
You can enroll in Medigap Plan N as soon as you turn 65, with the period lasting six months from your birthday. You’ll need Original Medicare Parts A & B policies to qualify for Medigap Plan N.
If you enroll in Medigap outside of the open enrollment period, the provider might ask you to undergo a medical underwiring.
If you have a pre-existing health condition, they may deny your application, institute a waiting period, or charge you a higher premium.
However, if you enroll in the open enrollment window, the insurer must accept your application, even if you have a pre-existing health condition.
What Does Medigap Plan N Cover? – Key Takeaways
- Medigap Plan N is a Federally regulated supplemental insurance policy available to members of Original Medicare Parts A & B.
- You get excellent coverage for out-of-pocket medical and hospital services in Parts A & B at a low monthly premium. The trade-off for the low premium is that you must make copays on doctor visits and emergency room visits.
- Medigap Plan N doesn’t cover Part B excess charges, prescriptions, and preventative care.
- You get unlimited coverage for all out-of-pocket expenses associated with Original Medicare Parts A & B.
- Plan N is widely available from most private healthcare insurers.
- The open enrollment period for Medigap Plan N starts on your 65th birthday and last six months.
Frequently Asked Questions
What is Medigap Plan N?
Medigap Plan N is a supplemental insurance plan that helps cover certain costs that Original Medicare (Part A and Part B) doesn’t cover, such as copayments, coinsurance, and deductibles.
What does Medigap Plan N cover?
Medigap Plan N covers several expenses, including the Medicare Part A coinsurance and hospital costs, Part B coinsurance or copayments, Part A hospice care coinsurance or copayments, and the first three pints of blood for a medical procedure.
Does Medigap Plan N cover Medicare Part B deductible?
No, Medigap Plan N does not cover the Medicare Part B deductible. You’ll be responsible for paying this deductible out of pocket.
Does Medigap Plan N cover skilled nursing facility (SNF) care coinsurance?
Yes, Medigap Plan N covers the coinsurance for skilled nursing facility (SNF) care. It pays for the daily coinsurance amount for days 21 through 100 of SNF care, after you’ve met the Medicare coverage requirements.
Does Medigap Plan N cover foreign travel emergency?
Yes, Medigap Plan N provides coverage for foreign travel emergency care. It covers 80% of the cost of emergency medical care during the first 60 days of your trip, up to a lifetime limit of $50,000.
Does Medigap Plan N cover excess charges?
No, Medigap Plan N does not cover Medicare Part B excess charges. Excess charges are the additional fees that some doctors may charge above the Medicare-approved amount.
Are there any copayments with Medigap Plan N?
Yes, Medigap Plan N has some copayments. You’ll have to pay up to $20 for each doctor’s office visit and up to $50 for each emergency room visit that doesn’t result in an inpatient admission.
Is Medigap Plan N a good choice for me?
Medigap Plan N can be a good choice if you’re willing to pay the copayments and the Part B deductible out of pocket. It provides substantial coverage for most Medicare costs and offers more affordable premiums compared to other Medigap plans.
How much does Medigap Plan N cost?
The cost of Medigap Plan N varies depending on several factors, such as your age, location, and insurance provider. It’s essential to compare prices from different companies to find the best rate for your situation.
Can I switch to Medigap Plan N from another Medigap plan?
Yes, you can switch to Medigap Plan N from another Medigap plan. However, it’s crucial to review the rules and regulations for switching Medigap plans in your specific situation to ensure a smooth transition without any coverage gaps.
Medigap Plan N Cover - How to get started
The easiest way to get started is to call us today at 1-888-891-0229.
We’ll answer all of your questions and help you. Or you can use our FREE quote engine to begin shopping today!
Updated December 4th, 2022