Medicare Supplement Plan N
Out of the 10 available Medigap plans, one of them stands out at the most economical choice. That is Medicare Supplement Plan N, which provides some powerful health insurance. It covers the majority of supplementary medical expenses, and it is usually priced very affordably and competitively. If you are considering enrolling in some additional health insurance beyond the Original Medicare plan, we suggest you consider Supplement Plan N. It may just be the best way to save money and ensure that you are well covered.
Let’s look at some common questions that people have about Medicare Supplement Plan N and hopefully answer your questions about it as well.
How Will Plan N Cover Me?
This Medicare Supplement comes with a lot of medical benefits. It does not cover the entire list of supplementary expenses for you, but it covers most of them, helping you keep your out-of-pocket healthcare spending low and ensuring you peace of mind about how well protected you are. You won’t have to worry too much about how much you will be responsible for paying after a trip to the doctor or a stay at the hospital.
Plan N is ideal for seniors who have lots of medical expenses and who take regular trips to the doctor or hospital. It can cover you for common medical expenses like Medicare Part A copayments, extending the coverage for hospital stays. It can also cover you for Medicare Part A’s expensive annual deductible- a charge of $1,408. Under Plan N, you will be covered for the remaining Part A expenses, which would be hospice care coinsurance, giving you complete hospice coverage.
Plan N further protects you by covering some Part B expenses. It asks you to pay for most Part B coverage that isn’t included in Original Medicare, but it will cover you for some of the copayments.
Plan N also covers the cost of nursing care coinsurance to give you more complete nursing coverage. It takes care of the remaining three pints of blood for you each year that Original Medicare is not paying for.
The final bit of coverage from Plan N is for the expense of transportation out of the country for foreign medical care. This is reserved for medical emergencies, and it will cover you for as much as 80% every time you need it. Over your lifetime, you can enjoy up to $50,000 in total coverage for this expense.
This coverage is all guaranteed, and what we mean by that is you will be covered for all of these benefits regardless of where you buy Plan N from and what you pay for the plan. Even if the price increases year after year, Plan N remains the same, covering you exactly as it always has. Now, Medicare can make changes to Plan N, but only Medicare gets to do that, so you don’t have to worry about your health insurance provider altering the plan in any way.
Who Can Enroll in Plan N?
Like all Medicare Supplements, Plan N is reserved for seniors primarily. The only real exception to that is those who are eligible for disability. That’s a benefit that is only available in some states, and you can check with us if you want to find out whether you qualify for disability or not.
For everyone else, enrollment starts close to your 65th birthday. You can send in an application for a Medicare Supplement starting three months before you turn 65. This is the beginning of Open Enrollment, which lasts for seven months. You’ll want to enroll at this time, if at all possible. You get the best rates at this time, and no insurance company can deny your application, and that’s why we recommend you try to enroll at this time.
The next chance you will have to enroll is during the annual enrollment period, starting on October 15th. Annual enrollment will end on December 7th. If you apply during this period, your coverage will start for you on the first day of the following year. Keep in mind that your preexisting health conditions can factor in during annual enrollment. You could end up paying more than someone else for your Medicare Supplement plan during annual enrollment.
Insurance companies are even allowed to deny your application, and they may do that if they see you as too much of an insurance risk. If your health is poor, insurance companies might not want to accept you as a customer. They might think you would cost them too much money. If you do get turned down by an insurer, don’t despair. Some insurance provider will accept high risk seniors that other insurers turn away. If you need help finding an insurer who will take you on, then feel free to call us. Our health insurance experts will happily answer your questions and help you find a plan and provider that works well for you.
How Do I Save Money on Plan N?
Most seniors are trying to find a health insurance plan that not only covers them well but that also fits their budget. Sometimes, it can feel like it is necessary to compromise and settle for a plan that you might not be happy with just to be able to afford your health insurance. That doesn’t have to be the case, however.
Medicare Supplements can be very affordable, and Plan N is partially economical. We believe it is the most cost-effective of the high coverage Supplements, but not every insurance provider will sell it at a good rate. Some of them overcharge for their plans, and that’s where seniors tend to lose out. They simply go with the first insurance provider they see that seems to be offering a good price on Plan N and
don’t bother to source multiple quotes and compare those quotes.
We urge you to look at as many quotes as you can for Medicare Supplement Plan N. Some insurers offer incredible rates on this plan, but you have to be willing to do some searching. If you use our site, you’ll get a list of all the major insurance providers for your area. You’ll see how they compare to one another when it comes to pricing, and that can help you to save a bunch of money. How easy will be it to find a good price when you can see all the different options in one place? We make it so simple for you. You don’t have to go from one insurance company to the next asking for quotes. You can find them all by simply using our site.
We will request your zip code so that we can give you local, relevant rates. It is important that we do that, since the rates will be different from one part of the country to another. The same insurance company selling the same plan can charge two different prices in different places.
How Does Plan N Compare to My Other Options?
Now, we have only talked about Supplement Plan N at this point, but you do have some other Medicare Supplements to pick from. There are even other kinds of Medicare plans that you can use provide yourself with some additional coverage. Let’s talk about some of those other Supplement plans, though, for a few moments.
Plan G is probably the best alternative to Plan N. If you enroll in Medicare Supplement Plan G, you will get even more medical benefits than what Plan N offers. You’ll be covered for all of the following healthcare expenses:
- Medicare Part A’s deductible
- Medicare Part A’s copayments
- Medicare Part A’s hospice coinsurance
- Medicare Part B’s copayments
- Medicare Part B excess costs
- Coinsurance for nursing care services
- Three pints of blood each year
- Foreign emergency healthcare transport (up to 80%)
The considerable coverage provided by Plan G is not often cheap. It can be more expensive than Plan N, and of course that added cost will be considerable over the course of the year. If you just pay $20 more a month for Plan G than you do for Plan N, then you end up paying $240 more a year. That’s a pretty average price difference, and the coverage difference is minimal. Pan G covers you for the Part B excess charges and the copayments for $20 and $50 for your doctor’s office visits and the emergency room costs, respectively.
You may save money over the course of the year by using Plan N instead of Plan G, especially if you can get Plan N at a very competitive rate, which our site will help you to do.
Plan F is another alternative, but it is not one that most people will be able to enroll in. Plan F is the highest coverage Supplement available, and it covers you for all of Plan G’s benefits and then adds coverage on for the Medicare Part B annual deductible.
Plan F is part of the delisted plan category, which simply means that if you don’t have Plan F as your current coverage, then you cannot get it. It is not being offered as a new plan for enrollment at this time. Plan F is also very expensive. The reason it isn’t being offered to most seniors right now is because of how expensive it has become. Many insurers just take its status as a full coverage plan as an excuse to charge whatever price they want for it. As with Plan G, you are simply better of choosing Plan N as your Supplement plan in most cases because of how affordably priced it is. That is why we have taken the time to go into detail here about all that Plan N offers. We don’t think most seniors will be able to save more money than what they’ll save with a competitively priced Plan N.
Who Is Selling Plan N?
Medicare Supplements are sold by private insurance companies. These companies get to decide which of the plans they want to offer and how much they want to charge, but they do have to abide by Medicare’s guidelines for the medical benefits to be included in each plan.
While there are many insurers that sell these plans, we will tell you a bit about a few of them. You can find out how much they charge for Supplement Plan N by searching on our website.
Aetna – With Aetna, you can enjoy a very customer friendly experience. They specialize in convenience, making it easy to file a claim or navigate their online resources. They’ll help you find a healthcare facility near you that is part of their network, and they offer member perks that give their plans real value.
Humana – You’ll enjoy all sorts of healthy living programs with Humana as your insurer. They have exercise and dieting programs and offer free access to gyms all over the country. They also keep their rates competitive with the other insurers, and you’ll find that their Medigap plans get good ratings from Medicare each year. Humana is also well known within the industry for having great customers service.
Mutual of Omaha – This insurer has been offering Medicare plans since they first became available, and they have excellent customer service and competitive rates. Mutual of Omaha is also known for their financial stability, so you can expect them to keep similar rates from year to year and should only see minor price increases.
AARP – A senior-focused health insurance provider like AARP can offer you a lot, like prescription discounts, personal financial counselling, gym access, telehealth services and much more.
These are just a few of the different insurers you can pick from for Medicare Supplement Plan N. You have plenty more choices, and you can use our site to see how their pricing compares. We hope you can use the resources we have provided here to save money on health insurance and to find a plan that you are really happy with.