Although it may not be one of the Medigap plans you hear the most about, Plan N is an excellent option for many people. Medicare Supplement Plan N offers similar coverage to other popular plans like Plan G and Plan D, but with a little more flexibility. We’ll take a look at precisely what Plan N covers and what your options are for purchasing it.
What Does Plan N Cover?
In terms of coverage, Plan N covers the following:
|Part A Coinsurance||Yes|
|Part B Coinsurance||Yes|
|Blood (first 3 pints)||Yes|
|Part A Hospice Copay or Coinsurance||Yes|
|Skilled Nursing Facility Coinsurance||Yes|
|Part A Deductible||Yes|
|Part B Deductible||No|
|Part B Excess Charges||No|
|80% of Foreign Travel Expenses||Yes|
Two coverages that Plan N notably does not cover are the Part B deductible and Part B excess charges. You may also notice that Plan N covers the same things as Plan D. This is true, but Plan N has a slightly different structure to Plan D.
Plan N vs. Plan D: What’s the Difference?
Although they generally cover the same things, Plan N and Plan D are not the same. The difference is that Plan N has its own copayment structure. This means that although some of your Medicare copays will be covered by Plan N, you will have an additional copay that you will pay at the doctor’s office under Plan N.
At the moment, this is up to $20 for doctor visits and up to $50 for emergency room visits that don’t result in an inpatient admission. These amounts will be paid to the doctor’s office upon your visit.
Is Plan D Better Than Plan N?
As usual, it’s hard to say which Medigap plan is best in general. For some people, Plan N may be better than Plan D, and vice versa for others. Because of the variety, the main thing to consider is the additional copays you will have to pay with Plan N and the fact that it has lower premiums.
How To Find Out Which Plan To Go With
If you’re deciding between Plan N and Plan D, there’s a simple way to analyze which one will be more cost-effective. Because the Plan N copays are the only difference, you need to figure out how much they’ll cost you each year.
This isn’t possible to know precisely, but the easiest way to do it is to look at how many times you visited a doctor or emergency room each year for the past few years. Multiply that by $20 or $50, depending on the visit type, and add that to the full Plan N premium amount for the year. This should give you a reasonable estimate for how much you’ll pay for Plan N total, which you can then use to compare it to the total Plan D price for the year.
Is Plan G Better Than Plan N?
It’s also natural to compare Plan N to Plan G, as their coverage is relatively similar. In this case, the main difference in addition to the Plan N copays is the Part B excess charges. This is covered by Plan G, but not by Plan N.
Agent TipPart B Excess charges are rare and only occur when your medical provider does not accept Medicare Assignment. These charges can be easily avoided altogether by checking with your provider if he or she accepts Medicare Assignment before your appointment.
Read More: What Are Part B Excess Charges?
Who is Plan N Best For?
Plan N is best for people who don’t expect to make too many doctor or emergency room visits each year. Although these visits can sometimes be unexpected, if you know in advance that you’ll be making many visits each year, then Plan N may not be best for you. If your visits are limited and fairly regular each year, you could end up saving substantially with Plan N.
Where Can I Buy Plan N?
Plan N is a fairly popular plan, and should not be difficult to find. Four insurance companies offer Plan N in all 50 states:
In addition to these four, Aetna and State Farm also offer Plan N throughout most of the country. Because it’s a popular plan offered by many insurance companies, prices should be competitive and fairly low. At the same time, because there are so many options, it can be hard to find the best deals. You can compare rates online here.
Which Discounts are Available?
Because coverage for Plan N is standard no matter who you buy it from, the main differences will be price and discounts. Each insurance company will offer different discounts, which are relevant to keep in mind. Here are the discounts for a few popular plans:
|Mutual of Omaha||Household Discount|
|United Healthcare||Enrollment Discount, Household Discount, Autopay|
|State Farm||Bundle Discount|
How Much Does Plan N Cost?
The cost of Plan N can vary depending on your geographical area, age, and health condition. For most people, Plan N will cost somewhere between $80 to $150, although it can be a bit lower or higher for some. This can be further lowered by discounts, but you should expect to pay somewhere in this range.
Contact us at 800-208-4974 for a free quote comparison today!
When Should I Purchase Medigap Plan N?
The best time to buy Plan N is during something called the “Medigap Open Enrollment Period.” This is a one-time period that begins as soon as you are enrolled in Part B or turn 65 and lasts for six months.
During this period, Medigap providers must sell you any Medigap plan you like. However, outside of your one-time Medigap Open Enrollment period, companies may ask health questions and health underwriting may be required.
I Want to Buy Plan N: Where Do I Go Next?
Because Plan N is one of the more popular plans out there, you have many options to choose from. However, this can make finding the right insurance company to buy from complicated, and you may miss out on the best available deal if you don’t do a thorough search.
If you want help finding a plan, feel free to reach out to us at 800-208-4974. We can help you find the best Plan N options in your area. We are independent of any insurance company, so we have the freedom to focus solely on what works best for you.