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?
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 because 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.
Free Medicare and Health Insurance Assistance
Our Agency is built on the idea that people deserve a trusted guide when it comes to the confusing world of insurance. As an Independent Broker, our loyalty is to the customer, not the insurance company. Our goal is to help our customers make informed decisions about their health insurance coverage. We are licensed in almost every state throughout the country.
We do not offer every plan available in your area. Any information we provide is limited to those plans we do offer in your area. Please contact Medicare.gov or 1-800-MEDICARE to get information on all of your options.
Not connected with or endorsed by the United States government or the federal Medicare program.
Call us anytime.
Our service is completely free.
Toll Free: 888-465-9728
Local Direct: 737-222-7063 (call/text)
2301 West Anderson Lane #129
Austin, TX 78757
© 2019 Abt Insurance Agency
Get exciting updates about the best insurance plan at the best price. The rates we provide are the same exact rates offered by going direct to the insurance company.