Medicare Supplement Plan N Prices
Medicare Supplement Plan N is one of the two newest Medigap plans introduced under the Medicare Improvements for Patients and Providers Act (MIPPA) as of June 1st, 2010. This Medicare modernization added plan M and plan N and removed several plans that were redundant. Plan N has premiums about 40% less than the popular Medicare Supplement Plan F and is quickly becoming one of the more popular Medigap plans in years.
The reasons it is so popular is due to the fact that this plan works on a cost sharing system. As opposed to plan F which has no copayments, consumers will pay lower premiums for plan N but will have some out of pocket expenses. Plan N makes a great alternative for people with Medicare Advantage plans. Plus, unlike advantage plans, Plan N does not have a network list of providers so patients can see any doctor and go to any hospital that they want.
After the beneficiary meets the Part B Deductible ($162 in 2011), they will be responsible for a $20 copay for any doctor’s office visit and a $50 copay for an emergency room visit. This $50 copay will be waived if the client is admitted to the hospital for inpatient care.
Some insurance companies, such as Mutual of Omaha, have limited underwriting for Medicare Supplement Plan N. This means that people who have had health problems may qualify without answering all of the normal health questions.
Medicare Supplement Plan N covers all the plan basic services – your hospitalization deductible and co-insurance and your first three pits of blood, items not covered by original Medicare. In addition to these basic services, Medigap Plan N also pays co-insurance for Medicare Skilled Nursing, and also includes the Foreign Travel Emergency Benefit. For outpatient services like doctor visits or a trip to the emergency room, Medigap Plan N covers all of your Part B coinsurance except for the $20 doctor’s office copay and the $50 copay for emergency room visits.
As aforementioned, Medicare Supplement Plan N will not cover your Part B deductible ($162 in 2011); but all other approved services are paid for under Plan N, including lab work, diagnostics procedures, MRI’s Cat Scans, Pet Scans, Occupational, Speech and Language Therapy as well as other approved services.
The main reason that Medicare beneficiaries select Medigap Plan N over a Medicare Advantage plan is the fact that there are no networks that can limit your choices. As long as the doctors accepts Medicare assignment, they will take plan N no matter which insurance company you have purchased the plan from. This permits consumers to get the care that they need from the doctors and facilities that they choose.
Not all Medigap (Medicare Supplement) insurance companies offer Medigap Plan N. Medicare Supplements Made Easy recommends speaking with one of our Medicare supplement specialists to get assistance on choosing which plan will suit your needs best. If you have any questions, call 800-218-7935 and we can give you the answers you are looking for. If you decide that Medicare Supplement Plan N is the best plan for you, Medicare Supplements Made Easy can give youMedicare Supplement Plan N rates in your area for all of the insurance companies offering the plan.