Medicare Supplement Insurance Plan N Basic Benefits
Plan N benefits include:
Medicare Supplement Plan N Costs
Beneficiaries in Plan N are responsible for cost-sharing in certain scenarios. You may have to cover a copayment up to $20 for healthcare provider appointments and up to $50 for emergency room calls without inpatient admission. Additionally, Medicare Supplemental Plan N does not pay Part B deductible nor Part B excess charges, so you’ll have to pay these types of expenses on your own.
Although Medicare Supplement Plan N basic benefits are standardized regardless of the insurance company or provider, the cost of each plan may vary by your geographic location and agency.
When considering a Medigap plan, make sure to weigh not just premium cost when starting a new policy, but how the insurance company prices or “rates” its premiums. Medigap insurance providers can apply one of three price practices to set their premium charges:
Community-rated: Plans charge equal premiums for all the beneficiaries, irrespective of the age.
Issue-age-rated: These plans determine premiums on your age when you very first enroll or are “issued” your Medicare Supplement plan. Premiums never rise with age.
Attained-age: These plans base premiums on your present age and premium fees may change as you get older. These plans can frequently be the most expensive in the long term since expenses get higher with your age.
While starting plan premiums vary, all insurance companies may also increase premium costs to adjust for inflation. Be sure you understand how your insurance company rates its premiums, to be certain you can maintain Medigap plan coverage now and long-term.
Do You Understand How Medicare Supplement Works?
Medicare Supplement Insurance Plan Benefits
There are ten Medigap insurance plans, each designated by an alphabet letter (like Plan A) available in most states. Basic coverage is standardized across all insurance plans, meaning the same basic benefits for Medicare Supplement coverage are identical for each letter category, regardless of your insurance carrier. However, while basic benefits are standardized, prices differ by insurance company and county or state location.
Medigap plans are designed to cover out-of-pocket fees not paid by Original Medicare, like coinsurance, deductibles, and co-payments. While some plans pay for benefits Original Medicare won’t, like, emergency health coverage outside of the US or the 1st 3 pints of blood in medical procedures, Medigap plans do not include prescription drug benefits. If you don’t carry prescription drug coverage (as good as the Part D benefit), you may consider shopping for a separate independent Medicare Part D Prescription Drug Plan to manage the cost of medications. Also, Medicare Supplement insurance plans don’t regularly offer extended benefits, e.g., regular dental, vision, or hearing coverage beyond what’s already covered by Medicare.
Factors That Affect Medicare Supplement Costs
Additional Savings or Discounts may be available to:
- non-smokers, married people, and women.
- Those choosing yearly payment plans, or (EFT) electronic funds transfer as their payment method.
- Those choosing a high-deductible alternative for Medigap Plan F, provided you can cover your deductible first.
- Enrolling in a Medicare SELECT plan with lowered premiums, however. Network limitations and physicians limited to those in plans network may apply.
Not every type of Medigap insurance plan or discount is obtainable in all states or with every insurance company offering Medigap plans.
The data below allows you to analyze Medicare Supplement insurance plans based on what is provided over the 10 standardized plans that are offered in most states.
|2018 Medicare Supplement Insurance Plans|
|Medicare Supplement Benefits||A||B||C||D||F*||G||K||L||M||N|
Medicare Part A coinsurance hospital costs up to an additional 365 days after Medicare benefits are exhausted
|Medicare Part B copayment or coinsurance basic benefits||X||X||X||X||X||X||50%||75%||X||X***|
|First 3 pints of blood||X||X||X||X||X||X||50%||75%||X||X|
|Part A hospice care coinsurance or copayment||X||X||X||X||X||X||50%||75%||X||X|
|Skilled Nursing Facility (SNF) care coinsurance||X||X||X||X||50%||75%||X||X|
|Medicare Part A deductible||X||X||X||X||X||50%||75%||50%||X|
|Medicare Part B deductible||X||X|
|Medicare Part B ‘excess charges’||X||X|
|Foreign travel emergency basic benefits (up to plan limits)||80%****||80%****||80%****||80%****||80%****||80%****|
|Medicare Part B preventive care coinsurance||X||X||X||X||X||X||X||X||X||X|
|$5,240 in 2018||$2,620 in 2018|
* There is also a high-deductible version of Plan F where beneficiaries pay a deductible of $2,240 in 2018 before the Medigap plan begins to cover Medicare-covered costs.
** After the out-of-pocket limit (including the Medicare Part B deductible) is reached for Plans K or L, the Medigap plan pays 100% of Medicare-covered services for the remainder of the calendar year.
***Plan N pays 100% of the Medicare Part B coinsurance costs, with the exception of a copayment of up to $20 for some office visits and up to $50 for emergency room visits that don’t result in the beneficiary being admitted as an inpatient.
****Medically Necessary Emergency Care in a Foreign Country: coverage to the extent not covered by Medicare for 80 percent of the billed charges for Medicare-eligible ex-penses for medically necessary emergency hospital, physician and medical care re-ceived in a foreign country, which care would have been covered by Medicare if pro-vided in the United States and which care began during the first 60 consecutive days of each trip outside the United States, subject to a calendar year deductible of $250, and a lifetime maximum benefit of $50,000. For purposes of this benefit, “emergency care” shall mean care needed immediately because of an injury or an illness of sudden and unexpected onset.