Medigap Plan N
Medicare Supplement Plan N is one of the 10 standardized Medigap plans available in most states in the US. It’s designed to help fill in the gaps left by Original Medicare (Parts A and B) and can provide more comprehensive coverage for beneficiaries who need it.
What is Medicare Supplement Plan N?
Medicare Supplement Plan N is a type of Medigap plan that is designed to help cover some of the costs that Original Medicare (Parts A and B) doesn’t cover. It’s one of the more popular Medigap plans, offering a balance of comprehensive coverage and affordability. Like all Medigap plans, Plan N is sold by private insurance companies and is regulated by state and federal laws.
What Does Medicare Supplement Plan N Cover?
Medicare Supplement Plan N provides coverage for many of the out-of-pocket costs associated with Original Medicare, including deductibles, copays, and coinsurance. Here's a breakdown of what Plan N covers:
- Part A hospital coinsurance and hospital costs up to an additional 365 days after Medicare benefits are exhausted
- Part A hospice care coinsurance or copayment
- Part A deductible
- Part B coinsurance or copayment (except for some office visits and emergency room visits that result in an inpatient admission)
- Part B excess charges
- Blood (first 3 pints)
- Skilled nursing facility coinsurance
- Foreign travel emergency care (up to plan limits)
Plan N does not cover Part B deductible or any excess charges incurred for certain services, but it does offer some cost-sharing options that can make it a more affordable choice for some beneficiaries.
How Does Medicare Supplement Plan N Work?
Medicare Supplement Plan N works by filling in the gaps left by Original Medicare. When you have Plan N, you’ll still be enrolled in Original Medicare, but you’ll also have the added benefits of your Medigap plan. For example, if you need to go to the hospital, Original Medicare will cover your care up to a certain point. With Plan N, you’ll have coverage for the Part A deductible, as well as any coinsurance or copayments you might be responsible for.
Medicare Supplement Plan N also has a cost-sharing feature that can help keep your monthly premiums more affordable. With Plan N, you’ll be responsible for paying some of the costs associated with doctor’s visits and emergency room visits that don’t result in an inpatient admission. Specifically, you’ll be responsible for up to a $20 copay for office visits and up to a $50 copay for emergency room visits. However, if you choose to go to a doctor or hospital that accepts Medicare Assignment, you won’t be responsible for any excess charges.
Who is Medicare Supplement Plan N Best For?
Medicare Supplement Plan N is a good fit for beneficiaries who want a balance of comprehensive coverage and affordable premiums. Plan N offers many of the same benefits as other Medigap plans, but with a cost-sharing feature that can help keep your monthly premiums lower. Plan N may be a good fit for you if:
- You’re generally healthy and don’t anticipate needing frequent medical care
- You’re willing to pay a small copay for doctor’s visits and emergency room visits
- You want coverage for the Part A deductible and coinsurance, but can afford to pay for the Part B deductible on your own
It’s also worth noting that Medicare Supplement Plan N doesn’t cover prescription drugs, so you’ll need to enroll in a separate Part D plan if you want coverage for your medications.
How to Enroll in Medicare Supplement Plan N
To enroll in Medicare Supplement Plan N, you must be enrolled in Original Medicare (Part A and Part B). You can enroll in a Medigap policy during your initial enrollment period (IEP), which is the 6-month period that starts the month you turn 65 and are enrolled in Part B. During this time, you have guaranteed issue rights, which means that insurance companies cannot deny you coverage or charge you more based on your health.
If you miss your IEP, you can still enroll in Medicare Supplement Plan N, but you may be subject to medical underwriting, which means that the insurance company can review your medical history and may charge you higher premiums based on any pre-existing conditions.
To enroll in Medicare Supplement Plan N, you can contact any insurance company that offers Medigap policies in your state. You can compare prices and benefits and choose the policy that best fits your needs and budget.