Medicare Supplement Plan N

Medicare Supplement Plan N Is A Low-Cost Medigap Policy With Robust Benefits.

There are 10 Medicare Supplement Plans (Medigap) lettered A-N. Each plan covers a different set of gaps in Original Medicare. Medicare Supplement Plan N is one of the most popular options because it offers robust benefits and attractive premiums. Below we take a closer look.

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Why Medigap is Needed

Although Original Medicare provides excellent health insurance coverage, it’s far from complete. Looming within Medicare are copays, coinsurance, and multiple deductibles that leave you exposed to high out-of-pocket medical costs.  

Medicare Supplemental Insurance (Medigap) works alongside your Original Medicare benefits to reduce or eliminate your out-of-pocket Medicare expenses. Without a supplement policy, you’ll pay out-of-pocket for all your Medicare-covered services. Those who purchase supplemental coverage add a secondary layer of coverage that protects both their health and bank account. 

Medigap Plan N Is A New Plan Designed For Today’s Seniors 

Medicare Supplement Plan N is one of two new Medigap plans created in 2010 as part of the Medicare Modernization Act. The other plan being Medigap Plan M

Both these two plans cover the most significant gaps in Medicare while offering low premium rates.  

What Does Medicare Supplement Plan N Cover?

Medigap Plan N covers seven of the nine gaps in Medicare. Here’s what you’ll get:  

  • Part A Coinsurance – Medicare Part A covers your inpatient hospital care up to 60 days in full; after that, you’ll pay a daily coinsurance of $352 per day! Medigap Plan N covers your coinsurance for 365 days. 
  • Part A Deductible – The standard Part A deductible in 2020 is $1,364. Plan N covers your part A deductible 100%. In other words, you save $1,364 on this benefit alone. 
  • Part B Coinsurance Medicare Part B covers all your outpatient care at 80%, and you, the patient, pay the remaining 20%. Because there is no out-of-pocket maximum, this is the most significant gap in your Medicare benefits. All Medigap plans cover this gap.   
  • Blood – First three pints at 100%
  • Skilled Nursing Facility – Original Medicare only covers skilled nursing facilities for the first 20 days. After that, you’ll pay a coinsurance of $170.50 per day for days 21-100, and the full cost after that. Plan N also covers your skilled nursing coinsurance. 

What Medigap Plan N Doesn’t Cover

These are the only two financial gaps that Medigap Plan N does not cover.  

  • Part B deducible – The standard Part B deductible in 2020 is $185. Beginning this year, Medicare changed its rules so that no Medigap policy can cover this gap. 
  • Part B excess charges – The doctors who agree to see Medicare Patients also agree to a standardized cost for services and procedures set by Medicare. However, healthcare providers can bill excess charges up to 15% directly to you. Plan N does not protect against possible Part B excess charges.  

If you’re looking for more comprehensive coverage, we suggest you explore Medigap Plan F and Medigap Plan G.

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How Does Supplement Plan N Compare? 

See how Medicare Supplemental Plan N compares to other Medigap plans. 

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Who’s Eligible?

Anyone eligible for Medicare benefits can enroll in Medicare supplemental insurance. However, only during one of the official Medicare Enrollment Periods

Is Medicare Supplement Plan N Right For You?

Everyone has different life circumstances, which is why there are ten different Medigap options. The right plan for you will depend on your health, age, state of residence, gender, and monthly budget. Medigap plan N will fit well for any individual looking for robust benefits but don’t want to pay the higher premium costs of Plan F, Plan G, or Medicare Advantage

If you’re moderately healthy and do not expect frequent doctor visits or hospital care, then you’ll likely find Medicare supplement plan N a good fit. 

Comparing Rates From Top Carriers

Medicare standardizes all Medicare Supplement lettered plans to include the same benefits. Meaning, all lettered plans are the same regardless of which insurance carrier you purchase from. 

Insurance provides decide on which Medigap options to sell, as well as the price. Therefore, you must take the time to shop all your available options. 

Our independent agency helps you shop and compare Medicare Supplement Companies nationwide so you can find your lowest cost option fast. 

Benefits of Working with Our Independent Agency

There are many benefits to working with our independent agency. Our knowledgeable agents are here to answer all your questions and help you navigate the complex world of Medicare.  

We here to help you compare your Medigap options to find which lettered plan is best for your life situation. After that, we help you compare carriers side by side to find which company can offer you the lowest rate for the policy that you seek. 

If you decided to move forward with a purchase, our streamlined enrollment process is quick and simple. 

Our services are free. And there’s never any obligation when speaking with an agent. 

We’ve helped thousands of people customize their Medicare benefits. We’d love to help you too!

Explore your options today. Get started with Medicare Supplement Plan N quotes. 

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