Medigap Plan N
Medicare Supplement Plan N is one the most popular plans among Medicare enrollees because it provides you with monthly premiums at a low cost. This plan helps you with the cost-sharing rates that are left by Original Medicare.
What is covered under Medigap Plan N?
This plan covers most things such as:
- 100% of Part A coinsurance and hospital costs for additional 365 days after Medicare benefits are used up
- 100% of Part B coinsurance
- 100% of the first three blood prints for a medical procedure
- 100% of Part A coinsurance for hospice care
- 100% of skilled nursing facility care coinsurance
- 100% of Part A deductible
- 100% Medicare part B preventive care coinsurance
- 80%Foreign travel emergency cases
However, it is important to know that Plan N pays 100% coinsurance except for a copayment of up to 20$ for office visits or 50$ for emergency room visits that aren’t under inpatient admission.
Also, this plan doesn’t cover Part B deductible and Part B excess charges.
How much does it cost?
As already mentioned this plan doesn’t cover Part B copayment, so you will need to pay up to 20$ for visiting a doctor’s office and up to 50$ if you need to visit an emergency room that isn’t under inpatient admission.
However, this doesn’t apply if you need to visit an urgent care center. Although, premium rates have increased up to 4% in the last five years those rates are still lower in comparison to other Medigap plans. Still, your average cost for this plan can be between 120$ and 180$. That still can depend on various factors that impact your possible rates.
For example, in some state areas costs can be up to 250$ and in other states, areas can be as low as 80$ per month.
Medigap Plan N Eligibility
You can enroll in Medigap Plan N during the six-month Medigap Open Enrollment Period as well as any other supplemental plan. You also need to be previously enrolled in Original Medicare (Part A and B) to be eligible for a supplemental plan application.
However, you can enroll anytime you want as long as your Part B is effective but the best time for enrollment is during this period because it offers you to apply with low premium costs and without any health questions from the provider and you will not be charged for your pre-existing conditions (if there are ones).
Be careful that this period begins the first month when you are 65 or older and your Part B coverage becomes effective. If you miss this period you can enroll later but there can be some higher premium rates and carriers will ask you underwriting health questions and based on the results they may not accept your application.
We know that Medicare could be complex but it doesn’t need to be scary. If you have any doubts about which plan you should choose, don’t worry because our licensed Medicare experts are here to help you so don’t do this by yourself.
Call us today and we will help you to find a plan that is the best option for you according to your healthcare needs and your budget!