Medicare Plan N – Your Comprehensive Guide For 2024

CompareMedicarePlansPosted in Medicare last updated on December 4, 2023

Medicare Plan N is a supplemental (Medigap) insurance policy that can help seniors and baby boomers fill the gaps left by their Original Medicare coverage.

Understanding what Plan N covers, how much it costs, and other important details of this type of supplemental insurance – are all essential for anyone over 65 looking to augment their healthcare coverage.

Here, we will take an in-depth look at Medicare Supplement Plan N – from what’s covered under the plan to frequently asked questions about enrollment – so you can make an informed decision on whether or not it’s right for you.

What Is Medicare Supplement Insurance

Medicare Supplement Insurance, also known as Medigap insurance, is a type of health insurance policy designed to supplement Original Medicare (Part A and Part B).

It helps cover some of the out-of-pocket costs that are not covered by Original Medicare. These include copayments, coinsurance, and deductibles.

You must be enrolled in Original Medicare in order to buy a Medigap policy.

Medigap policies are offered by private insurers and must follow federal and state laws. Each plan offers different levels of coverage depending on the insurer’s offerings in your area.

All plans offer basic benefits, such as hospitalization coverage for an additional 365 days, after you have used up all your original Medicare benefits.

Further benefits, depending on the plan, include:

Foreign travel emergency care
Preventive care including screenings
Skilled nursing facility care
Hospice care coinsurance or copayment
Ambulance services
Laboratory tests and X-rays
Medical equipment fees
Home health care visits

Note – dental, vision, and hearing coverage is purchased separately.

The cost of a Medigap policy varies based on the type of plan chosen and where you live; generally it ranges from $50-$200 per month depending on age and location and chosen plan.

To recap – After you apply for Medicare, you have the option to enroll in a Medicare Supplement plan, such as Plan N – if you opt to sign up for Original Medicare.

Medicare Supplement Insurance is an important part of understanding your coverage options, so be sure to explore the different plans available and determine which one best fits your needs.

Overview of Medicare Supplement Plan N

Medicare Supplement Plan N is a type of supplemental insurance plan (Medigap) that helps to cover some of the out-of-pocket costs associated with Original Medicare. This includes:

Copayments
Coinsurance
Deductibles
Emergency medical care for travel outside the United States.

The cost of Plan N varies depending on where you live and your age at enrollment. Generally speaking, premiums tend to be lower than those for other types of supplemental plans.

When considering whether Plan N is right for you, it is important to understand all the details about what is covered and how much it will cost before making a decision.

Medicare Supplement Plan N provides seniors and baby boomers with a comprehensive coverage option to help cover out-of-pocket costs associated with Medicare.

Key Takeaway: Medicare Supplement Plan N is a type of supplemental insurance plan that helps to cover some of the out-of-pocket costs associated with Original Medicare, such as copayments, coinsurance and deductibles.

Covered Services Under Plan N

Plan N is a Medicare Supplement Insurance plan that covers many of the out-of-pocket costs associated with Original Medicare. This includes Part A coinsurance and hospice care, as well as 80% of foreign travel emergency care.

When it comes to covered services under Plan N, there are several key benefits that are included in most policies:

• Hospitalization – This covers up to 100% of the Part A deductible (up to $1,408 per benefit period in 2022) plus an additional 365 days after your Medicare benefits end.

• Skilled Nursing Facility Care – This covers up to 100% of the Part A deductible (up to $176 per day in 2022) plus an additional 20 days after your Medicare benefits end.

• Part B Excess Charges – This pays any excess charges above what Medicare approves for doctor’s visits.

• Foreign Travel Emergency Care – If you get sick while traveling abroad this will pay 80% of eligible expenses up to a maximum limit set by your policy.

• Preventive Care Services – You may receive one free annual wellness visit each year if you enroll in a plan that offers this benefit.

It is important to note that while most plans cover similar benefits, there may be variations depending on where you live. It is recommended to contact your local insurance provider for details regarding the coverage they offer.

Plan N covers many essential services, such as doctor visits and hospital stays. The next heading will provide more information on what is not covered under Plan N.

Cost of Plan N

Typically, Plan N pays for 100% of your Part B coinsurance, except for a small copayment of up to $20 for some office visits and preventive services.

The cost of Plan N depends on several factors including where you live, your age, and whether or not you smoke. Generally speaking, it’s more expensive if you’re older than 65 or if you live in an area with higher healthcare costs.

Note – you will want to compare the following Medigap plans to compare and contrast their features to Plan N:

If you decide to purchase Plan N coverage, the average monthly premium cost is somewhere between $80 – $200. Your resident state, specific location, age, gender, and sometimes your health status all determine how much specifically Plan N will cost.

In addition to these premiums, there may also be other out-of-pocket expenses associated with Plan N such as deductibles and copays when receiving medical services from providers who accept Medicare assignment rates.

For example, if you go to a doctor who does not accept assignment rates then they may charge more than what would normally be covered by Plan N – so it’s important to check before making any appointments or treatments.

Overall, Plan N offers comprehensive coverage at an affordable price point compared to other plans available through Medicare Supplement Insurance companies.

Key Takeaway: Plan N is a Medicare Supplement Insurance plan that provides comprehensive coverage at an affordable price point. It covers 100% of Part A and Part B coinsurance, except for a small copayment of up to $20 for some Part B office visits and preventive services.

Frequently Asked Questions

One of 10 standardized plans available in most states, here, we will cover the most commonly asked questions about Plan N.

Important – Compare and each plan with the Medicare Supplement Plan C o m p a r i s o n Chart.

What Does Plan N Cover?

Plan N covers 100% of Part A coinsurance for hospital stays up to an additional 365 days after your original Medicare benefits end. It also covers Part B coinsurance for doctor visits and preventive care services, such as flu shots or cancer screenings – except for a small co-pay.

In addition, it pays for three pints of blood each year and 80% of foreign travel emergency care expenses after you pay a deductible.

How Much Does Plan N Cost?

The cost of Plan N varies depending on where you live and which insurer you choose to purchase coverage from. You can view your plan options based on your location on Medicare’s website.

Generally speaking, premiums tend to be lower than other types of Medigap policies but may still range anywhere from $50-$200 per month – depending on the plan details and your age when enrolling in the plan.

Additionally, there may be copayments associated with certain services under this plan that can add up over time if they’re used frequently enough throughout the year.

Are There Any Limitations To Consider With Plan N?

Yes – like all Medigap plans, there are some limitations associated with Plan N that should be taken into consideration before signing up for coverage.

For example, this plan does not cover any Part B deductible or Part B excess charges.

What Other Questions Should I Ask Before Signing Up For Coverage?

Before signing up for any type of health insurance policy, including Medigap Plans, it is important to understand exactly what is covered under the specific plan being offered.

This will help to avoid any surprises when filing claims or accessing certain healthcare services and treatments in the future.

Finally, ask about premium rates compared to similar policies offered elsewhere so that you can get an accurate comparison before making a final decision regarding which provider best suits your needs financially.

Key Takeaway: Plan N is a type of Medigap policy that helps cover some out-of-pocket costs not covered by Original Medicare. Before signing up for coverage, make sure to understand exactly what is covered under the plan and compare premium rates from different providers.

Next Steps

The next step for those interested in learning more about Medicare Supplement Plan N is to contact a licensed insurance agent. An experienced agent can provide helpful information and advice, as well as determine if this plan is the right fit for you.

When speaking with an insurance agent, it’s important to ask questions so that you understand exactly what your policy covers and how much it will cost.

Be sure to inquire about any additional fees or charges associated with the plan.

It’s also important to consider other factors when deciding which type of Medicare supplement insurance is best for you such as deductibles, co-payments, coinsurance amounts and annual limits on covered services.

Finally, it is important to read through all of the paperwork carefully before signing up for a policy. This will ensure that you fully understand what is included in your coverage and any exclusions that may apply.

If there are any questions or concerns, it is recommended to ask them until you feel comfortable making an informed decision about which plan best meets your needs and budget requirements.

Now that you have a better understanding of Medicare Plan N, the next step is to research your options and determine which plan best meets your needs.