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Medicare Plan N fills in the “gaps” of Original Medicare coverage by paying for the Part B deductible, some doctor copays and up to 365 days of hospital costs after you meet the Medicare Part A deductible. However, this Medigap plan does not include prescription drug coverage, so you would need to enroll in a separate Medicare Part D plan for medication coverage.find out more
As part of the Medicare Modernization Act of 2010 (MAPRA), all ten Medicare supplement insurance plans available today have been standardized and guaranteed renewable by the federal government. Medicare Plan N is one of these standardized plans and it has become increasingly popular following MACRA.
Mastering Your Options: The Ins and Outs of Medicare Plan N Explained
While the plan still requires you to pay the Medicare Part B deductible, it does cover up to 50% of your hospital costs after you meet the deductible, which is much higher than other supplemental plans such as Plan F and G. It also doesn’t include a $20 copay for doctor office visits and $50 for emergency room visits that do not result in hospitalization.
Ultimately, it is important to consider your current and anticipated medical needs before deciding if this plan will work for you. We recommend comparing Medicare Plan N against the other nine supplemental insurance plans to make sure you get the best value for your money. Premiums for the supplemental plan vary by insurance company and can be based on a number of factors including: geographic area, medical underwriting and age, as well as discounts.