Why Enroll In Plan N

Choosing the right Medicare Supplement (Medigap) plan is an important decision for individuals managing healthcare costs. In this post, we will answer the question; why enroll in a Plan N.

Medicare Supplement Plan N can be a great plan option due to its balance of affordability and comprehensive coverage. Individuals considering their Medicare Supplement options may find the Plan N is the perfect fit for their healthcare needs.

Lower monthly premiums

One of the biggest advantages of Plan N is its cost-effectiveness. Although Plan N provides many of the same benefits as other Medigap plans, its premiums are generally lower than Plan G. This makes it a good option for individuals who want solid coverage without paying a high premium for benefits they may not use too often.

Comprehensive coverage

Plan N covers many out-of-pocket costs that Original Medicare does not, including:

• Medicare Part A hospital coinsurance and hospital costs for up to 365 days after Medicare benefits are exhausted
• Medicare Part B coinsurance (except for small copays)once the annual Part B deductible is paid
• First three pints of blood
• Part A hospice care coinsurance
• Skilled nursing facility (SNF) care coinsurance
• Limited foreign travel emergency coverage (80% up to plan limits)

Out-of-Pocket costs

Plan N offers lower premiums in exchange for reasonable cost-sharing amounts. This includes:

• Up to a $20 copay for doctors visits
• Up to a $50 copay for emergency room visits (this copay is waived if the enrollee is admitted)

These low out of pocket amounts costs are predictable and manageable.

Please note: Unlike Plan G, Plan N does not cover Medicare Part B excess charges. Although, this is usually not an issue for beneficiaries who visit doctors that accept Medicare assignment, as they agree to charge only the Medicare-approved amount.

Plan N is a great choice for individuals who:

• Want the freedom to use any provider that accepts Medicare assignment
• Want to save on monthly premiums and still have great coverage
• Do not mind paying a nominal copay for medical services

Freedom to choose any provider that accepts Medicare assignment

Unlike Medicare Advantage plans, which have network restrictions, Medigap Plan N allows beneficiaries to see any doctor who accepts Medicare assignment. This is beneficial for individuals who seek care in more than 1 state and want greater flexibility in choosing healthcare providers. This is especially helpful if the individual uses several providers to treat medical conditions or illnesses.

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Protection from high hospital costs

Hospital stays can be expensive, but Plan N covers Part A coinsurance and hospital costs beyond Medicare’s limits. This ensures that beneficiaries do not face excessive out-of-pocket costs for extended hospital stays allowing beneficiaries to focus on recovery.

Alternative to more expensive Medigap plans

For those who want comprehensive coverage without the higher Plan G premiums, Plan N provides a good balance between affordability and comprehensive coverage.

Why enroll in Plan N

Medicare Plan N is a good choice for:

• Individuals who want lower monthly premiums
• Those who are comfortable with small copays for doctor and ER visits
• Beneficiaries who may use more than one Medicare-approved provider
• People looking for nationwide coverage without restrictive networks

Medicare Supplement Plan N is a great choice for those who want a balance of affordability and comprehensive coverage. With lower premiums, predictable cost-sharing, and strong hospital coverage, it offers a practical solution for many Medicare beneficiaries. Beneficiaries should consult with a licensed Medicare agent before enrolling in any Medicare Plan to ensure the plan aligns with healthcare and financial needs.