Plan N is one of the 10 Medicare Supplement Insurance plans (also called Medigap) that are available in most states. Medicare Supplement Insurance Plan N offers coverage for all but two standardized benefits.
In 2016, 9 percent of Medicare Supplement Insurance plan beneficiaries were enrolled in Plan N.1
There are nine potential Medicare out-of-pocket costs that can be covered by a Medicare Supplement Insurance plan. Medicare Supplement Insurance Plan N offers coverage for seven of those nine benefits.
Some of the Medicare costs that are covered in full by Medicare Supplement Plan N include:
The seventh and final benefit area covered by Medicare Supplement Insurance Plan N is emergency care that is received outside the U.S. Medicare only covers such care under very limited circumstances, but Medicare Supplement Insurance Plan N covers 80 percent of the costs for qualified emergency medical care abroad.
|Medicare Supplement Benefits||A||B||C||D||F1||G||K2||L3||M||N4|
|Part A co-insurance and hospital costs||✓||✓||✓||✓||✓||✓||✓||✓||✓||✓|
|Part B co-insurance or co-payment||✓||✓||✓||✓||✓||✓||50%||75%||✓||✓|
|First 3 pints of blood||✓||✓||✓||✓||✓||✓||50%||75%||✓||✓|
|Part A hospice care co-insurance or co-payment||✓||✓||✓||✓||✓||✓||50%||75%||✓||✓|
|Co-insurance for skilled nursing facility||✓||✓||✓||✓||50%||75%||✓||✓|
|Medicare Part A deductible||✓||✓||✓||✓||✓||50%||75%||50%||✓|
|Medicare Part B deductible||✓||✓|
|Medicare Part B excess charges||✓||✓|
|Foreign travel emergency||80%||80%||80%||80%||80%||80%|
|1. Plan F offers a high-deductible plan. This plan requires you to pay a $2,300 deductible in 2019 before it covers anything.
2. Plan K has an out-of-pocket yearly limit of $5,560 in 2019. After you pay the out-of-pocket yearly limit and yearly Part B deductible, it pays 100% of covered services for the rest of the calendar year.
3. Plan L has an out-of-pocket yearly limit of $2,780 in 2019. After you pay the out-of-pocket yearly limit and yearly Part B deductible, it pays 100% of covered services for the rest of the calendar year.
4. Plan N pays 100% of the Part B coinsurance, except for a copayment of up to $20 for some office visits and up to a $50 copayment for emergency room visits that don’t result in an inpatient admission.
There are only three Medicare Supplement Insurance plans that offer more benefits than Medigap Plan N.
Plan N only fails to cover two of the nine Medigap benefit areas:
The Medicare Part B deductible is $185 per year in 2019, which works out to just a little more than $15 per month. If you can find Medicare Supplement Plan N with premiums that are at least $15 cheaper than a plan that covers the Part B deductible, the tradeoff may be worth it for you.
Part B excess charges, which can be as high as 15 percent of the Medicare-approved amount for medical services, are only incurred when you visit a health care provider that does not accept Medicare assignment.
If you avoid health care providers that do not accept Medicare assignment, you may not have to worry about being charged an excess amount.
Medicare Supplement Insurance is sold by private insurance companies, meaning the cost and availability of plans can differ from state to state.
To learn more about Medicare Supplement Insurance Plan N and other Medigap plans that may be available where you live, speak with a licensed insurance agent at MedicareSupplement.com.
1 AHIP. State of Medigap 2018 Trends in Enrollment and Demographics. (June 2018). Retrieved from https://www.ahip.org/wp-content/uploads/2018/06/State_of_Medigap18_FINAL.pdf.
2 Hemez, Colin. Blood Transfusion Costs. (Dec. 21, 2016). Yale Global Health Review. Retrieved from yaleglobalhealthreview.com/2016/12/21/blood-transfusion-costs.