Medigap Plan N Benefits
Plan N covers the following:
- Medicare Part A copayments and hospital costs — up to an additional 365 days after Medicare benefits are used up
- Medicare Part B copayment
- First 3 pints of blood
- Part A hospice care copayment
- Medicare Part A deductible
- Skilled nursing facility coinsurance
- Foreign Travel Emergency — up to plan limits
What Costs Are You Responsible for?
With Plan N, you agree to pay a share of some things that you wouldn’t if you had Medigap Plan F. You’ll be responsible for the small yearly Part B deductible ($203 in 2021), and you’ll pay copays up to $20 for doctors appointments and up to $50 for ER visits.
You’ll also pay excess charges to various medical providers.
Plan N Eligibility and Enrollment
There are certain eligibility rules you should know when buying any Medigap plan:
- You’re eligible to enroll in Plan N if you have Medicare Part A and Part B.
- You must also live in the plan’s coverage area.
- You can’t have Medigap and Medicare Advantage.
- A Medigap policy just covers one person. Your spouse will need to buy a separate policy.
- Insurers aren’t legally required to sell Medigap plans to those under 65. If you’re under 65 and on Original Medicare, you may not be able to buy the plan you want.
If you’re interested in Plan N, it’s best to enroll during Medigap Initial Enrollment — a six-month period that begins when you turn 65 and enroll in Medicare Part B. If you don’t sign up during this time, you may not be able to get the plan you want or it might cost more.
How the Companies Charge You
Every Medigap policy charges a monthly premium. The exact amount may vary by area, gender, and tobacco status. Insurers can set monthly premiums for their policies in three ways:
- Community rated — Everybody who buys the plan pays the same monthly amount no matter their age.
- Issue-age rated — Monthly premiums are based on the age when you first buy a plan. Younger buyers will have lower premiums, and the premiums don’t go up as you get older.
- Attained-age rated — Monthly premiums are based on your CURRENT age. So, your premium will increase as you get older.
Is Plan N Right for You?
If you’re okay with paying a lower premium in return for paying a small yearly deductible and some copayments, consider Plan N. All Plan N policies have the same benefits regardless of the company you select. The only difference? The price. And a licensed broker can help you get the lowest rate available.