Medicare Plan N is a popular supplement option for people looking to save money while still having comprehensive coverage. It helps fill in the gaps of Original Medicare, offering cost-sharing protection and peace of mind. The premiums for this plan are typically less than for plans F and G, but there are still deductibles and copays to be aware of.Resource : boomerbenefits.com/medicare-supplemental-insurance/medicare-supplement-plans/medicare-plan-n/
This plan covers Medicare Part B 80% of approved charges after you pay a $20 copay for doctor visits or $50 for emergency room visits that do not result in admission. It also pays 80% of foreign travel emergency costs, which isn’t covered by Original Medicare. In addition, plan n does not cover excess charges, which are fees healthcare providers can charge above the Medicare-approved amount.
Medicare Plan N Unveiled: What You Need to Know About Coverage and Costs
To be eligible for Medicare Plan N, you must have already enrolled in and be receiving benefits from both Medicare Parts A and B. You must be a United States citizen or permanent resident and be at least 65 years of age. It’s best to enroll during the six-month Medigap Open Enrollment Period that begins on the first day of the month in which you turn 65 and are enrolled in Medicare Part B. During this time, you have guaranteed issue rights and insurance companies cannot deny or raise your premiums based on health history.
If you don’t enroll during this time, it is possible to obtain a medicare plan n, but the insurance company can use medical underwriting to assess your eligibility and rate. It is important to consult a licensed agent before making a decision about which plan is right for you.