What is Medigap Plan N?
Since its introduction in 2010, Medigap Plan N has been a popular option for beneficiaries looking to pay a lower premium in exchange for a small annual deductible and some copays. As a supplemental policy, Plan N helps cover the 20% that Medicare Part B does not. There are also parts of the coverage that will help pay your hospital deductible and all hospital copays and coinsurances. In turn, you will still be responsible for paying excess charges, the Medicare Part B deductible, and small copays at the emergency room or doctor’s office.
Typically, Original Medicare covers standard preventive care such as cancer, cardiovascular, and diabetes screenings at doctor’s offices. It will also help with the cost of annual physicals, vaccines, colonoscopies, and other tests. Where Medicare Supplement Plan N comes into play is when you need to see the doctor for anything that isn’t routinely covered. This could include injuries or illnesses, to get medical equipment, surgeries, ambulance rides, lab work or imaging tests, and much more. Medigap Plan N will also cover the deductible for hospital stays or inpatient hospital services like blood transfusions that are needed.
With Medigap Plan N, you will be responsible for paying a few more costs than some of the other Medicare Supplement Plans. You will be responsible for paying excess charges to some medical providers. You will also need to pay the small annual Medicare Part B deductible, copayments for doctor appointments, and copays for emergency room visits.
What does Medigap Plan N Cover?
As a standardized plan, any agency you talk to will be able to help you decide if Medicare Supplement Plan N is the right plan for you. To help break down the coverage a little more, a list as been created below with coverage information for Medigap Plan N:
- Hospice care coinsurance and copayments under Medicare Part A
- Coinsurance and copayments for Medicare Part B (except for a minimal copayment of up to $20 at office visits and up to $50 for emergency room visits that don’t require to be admitted.)
- Hospital and coinsurance costs of up to an additional 365 days after Medicare Part A benefits are used up
- Medicare Part A deductible
- Costs associated with the first three pints of blood needed for medical procedures
- Coinsurance for skilled nursing facilities
- Costs incurred from emergencies during foreign travel
How We Can Help
Hitcho Insurance has spent nearly a quarter of a century working with families and clients to determine the best insurance coverage for their situation. No two people are alike and neither are their goals and protection needs. That is why we offer free consultations to get to know you a little better and what your needs are. To schedule a consultation today or learn more about your options, give us a call at (610) 694-9435.