Medicare Supplement Plan N | Is It The Best Medigap Plan?

Medicare supplement Plan N is growing in popularity – but does it truly offer the best value?
Stephanie Abt

Plan N is one of the three most popular Medicare Supplement Plans, along with Plan F and Plan G, but it can often cost up to 30% less than Plan F, or 20% less than Plan G. It’s a very popular Plan for people that looking for an alternative to a Medicare Advantage Plan – and unlike a Medicare Advantage Plan, Plan N because it is a Medicare Supplement Plan has NO networks, it is not an HMO or a PPO.

Medicare Supplement Plan F has historically been the most popular Plan because it is the Plan that offers the most coverage – with Plan F, 100% of the gaps in original Medicare are covered, so you pay zero out of pocket at the doctor and hospital. However, you usually pay a lot more in premium for it. Plan F is priced higher, and based on what we’ve seen Plan F experiences higher percentage rate increases than Plan G or Plan N. Plan G is almost identical to Plan F, but there is no coverage for the Part B deductible, which is $183 annually in 2018. With Plan G, after you meet the Part B deductible of $183 all of your Original Medicare costs are covered at 100%, so no copays, no coinsurance at the doctor or hospital after the deductible is satisfied.

Plan N offers a good bang for your buck, and in many states you can get a Plan N for under $100/month. The reason it is priced lower than Plan F or Plan G is that you will be responsible for a little bit more of your Medical costs. Just like Plan G, there is no coverage for the Part B deductible, so with Plan N you can have annual deductible of $183/year. After the deductible is met, you may be responsible for Co-pays at your provider and at the emergency room. Copays will be anywhere from 0-$20 at the provider, and up to $50 at the emergency room. Additionally, Plan N does not cover the Medicare Part B excess charges. You may come across excess charges if you visit a provider who accepts Medicare but does not accept Medicare assignment. So, it is possible to see a doctor who accepts Medicare patients, but does not accept Medicare Assignment, or Medicare as “payment in full”. In this case, a doctor may charge you up to 15% above the Medicare Approved amount. These are excess charges – Plans F and G cover them at 100% but Plan N does not. Now excess charges are not extremely common, and in some states they are actually illegal: Connecticut, Massachusetts, Minnesota, New York, Ohio, Pennsylvania, Rhode Island, and Vermont. You can always feel free to call (888) 465-9728 anytime for a completely free no obligation quote. We are licensed in 40 states nationwide.

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