Medicare Supplement Insurance, or Medigap as it is also known, helps to fill in the gaps in coverage that Original Medicare does not cover. It pays for things like copayments and coinsurance, which are costs that Original Medicare does not cover. Medigap plans are standardized policies, meaning they all offer the same benefits. There are 22 different plans available from A-L. This is Plan N and here’s what you need to know about it:
What Is Plan N?
Plan N is a Medicare supplement plan offered by Medigap policies. This plan covers the cost of copayments and coinsurance for things like doctor’s visits, hospitalization, nursing care, and prescription drugs. You can choose this plan if you or the person you are caring for have been diagnosed with End-Stage Renal Disease (ESRD). The benefits that Plan N offers include:
– Copayment protection
– Coinsurance protection
– Out-of-pocket maximum protection
– Respite care
– Nursing home care expenses
What Are The Benefits Of Plan N?
Plan N’s benefits are similar to the other plans available. It covers hospitalization and doctors’ services but does not cover prescription drugs or long-term care, Plan N is one of the cheapest plans available with just a $50 deductible for hospitalization, but since it doesn’t cover prescription drugs or long-term care, it may not be the best option for you.
Who Should Buy Plan N?
Plan N is a good option for people who want to purchase additional coverage but do not need the more expensive Plan F. If you are younger than 65 and have been recently diagnosed with a critical illness, then Plan F might be the best option for you. But if you are between 65-69 and do not have any major medical conditions, then Medicare supplement plan N could be a good fit.
Why Should You Consider Buying Plan N?
Plan N is the most comprehensive of all the Medigap plans. It covers three different areas that Original Medicare does not:
– Copayments for hospital stays under age 65
– Co-insurance for hospital stays over age 65 (except when a person is admitted to a skilled nursing facility)
– Co-insurance for home health care
However, there are some limitations to this plan. You can’t enroll in Plan N if you have certain preexisting conditions or if you are enrolled in a Medicare Advantage plan.
Plan N also offers extra benefits like coverage for being sent to a skilled nursing facility outside of your local area and counseling services should you need help choosing your plan.Medicare Supplement Plan N is a cost-effective and more affordable alternative to Original Medicare. It’s a good idea to compare your alternatives to Medicare Supplement Plan N.
Purchasing a Medicare Supplement Plan N can be a good idea if you should happen to fall into any of the categories listed above. The Medicare Supplement Plan N is a cost-effective and more affordable alternative to Original Medicare. It’s a good idea to compare your alternatives to Medicare Supplement Plan N, but if you fit any of the categories listed above it’s worth considering purchasing a Medicare Supplement Plan N.
