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Medigap Plan N

Understanding the different Medigap options is important in selecting the right policy for your supplemental insurance. Medigap can lower your bills and provide financial relief from medical costs.

Coverage

Medigap Plan N does cover:

  • Medicare Part A coinsurance and hospital costs up to a year after Medicare benefits are exhausted
  • First three pints of blood
  • Medicare Part A hospice coinsurance or copayment
  • Medicare Part A deductible
  • Skilled nursing facility care coinsurance
  • Medicare Part B deductible
  • 80% of foreign travel exchange

Medigap Plan N does not cover:

  • Medicare Part B deductible
  • Medicare Part B excess charge
  • Medicare Part B coinsurance or copayment
Medicare Supplemental Plan N Video Transcript >

Medicare Supplement Plan N - What Is It?

Hi, Sean Brady here with My Healthcare Direct. We are an independent insurance agency, we work with all the insurance carriers in your area, and we are trying to educate as many seniors as possible on Medicare:

  • how it can impact them
  • what are the differences with the plans?

Today, we're going to be going over Medicare Supplement Plan N.

If you like what you see on this page and you would like to receive more content, go ahead and like and subscribe and click the bell. When more content comes out weekly, you'll be notified.

If you have any questions at all during this video, shoot me an email or give me a call. Either me or my team, we'll go ahead and get your questions answered. That's what we're here for.

Medicare Supplement Plan N

Let's dive in and see what we can learn!

Medicare Supplement Plan N is going to be one of your popular ones. You're going to be hearing about Medicare Supplement Plan G, Plan N, Plan F. You know, a lot of folks have

that.

Let's look at the breakdown.

Medicare Supplement Plan N, it's going to be similar to Plan G, with a couple of differences:

One of the main ones is going to be your Part B coinsurance or co-pays.

Your Part B co-pays are going to be after your Part B deductible is met. So, what does that mean? Your Part B deductible is going to be your 203 USD for next year 2021. Once that has been met, the 203 USD, then you would have to pay for your doctor's visits. That's your Part B, your specialist primary care, that sort of thing. You would have to pay a co-pay for those visits.

How much would the copay be?

Great question, it's going to be 20 USD for your doctor's visits, and then it's going to be a 50-USD co-pay for the emergency room. Every time you visit the doctor, expect to pay a 20-USD co-pay. Every time you go to the emergency room, you know, if not admitted, expect to pay a 50-USD co-pay. And that's how that works.

The other expenses that you would need to know about and would be required for you would be your Part B excess charges. 

In a way, this is very similar to Plan G, the only real difference is going to be the excess charges, as well as having to pay co-pays after you meet your Part B deductible, and that's from January 1st through January 1st, it's a calendar year.

Now, other things to consider:

How much would this cost specifically?

Okay, so your Plan N cost. You first would have to have a monthly premium amount, and that cost is going to be a little less than, I would say, a Plan G, because there's more cost that you are responsible for, like your Part B deductible.

But more importantly than the difference between Plan G would be your doctor visit co-pays. Remember, that's going to be a 20 USD, up to a 20 USD. Could be less, but the maximum would be a 20 USD per visit.

And then, emergency room would be up to a 50 USD - that could be less, but that would be the max.

And then you'd have your Part B excess charges.

So that's Plan N in a nutshell.

What other things would you need to understand about it?

You'd have your Plan N excess charge. What are those? They occur if pro providers do not accept Medicare assignment. Doesn't happen too often, but I just want to explain it, so we understand. Providers can charge up to 15 percent of Medicare-approved amounts.

How to check for excess charges? We have it listed here, where you can go to medicare.gov, type in this right here, physician compare, and first you can look up the zip code. You need the doctor's name, but you can go ahead and figure out:

  • Would there be excess charges?
  • What would they be?

See, in the next slide here, “How to check for excess charges?” You see, here's a doctor… Geoffrey Jones. So he would accept Medicare-approved payments, and you see the little check mark there? If you really want to find out, that's the way to do it.

It's a great option, I would say for… you know, if the premium is less than 30 USD. If it's 30 USD less than Plan G, I would say it's a great option. But it really just kind of depends, and we can help you do the math and figure out what the best fit is for you. 

Like I said, there's a lot of options that people have, a lot of people explaining different things. We're basically here to educate you, to help you make the best decision to fit your needs along the way. I'm sure there's questions and different situations arise, that's why we're here. We've heard almost all of the different situations, so we're here to help you not make the same mistakes that others have in the past.

Give us a call, we'll be glad to help you!

We can help!

The only difference between Medigap Plan M and Plan N is that Plan N covers the entirety of the Medicare Part A deductible, and Plan M covers 50% of it. If you’re considering enrolling in Plan N, make an appointment to speak with one of our insurance professionals. We look forward to hearing from you!

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