Medicare Supplement Plan N – or Medigap Plan N – is one of the most popular supplement plans out there for Medicare recipients. Plan N is for people who want lower monthly premium rates without foregoing benefits. However, under Plan N, you are still responsible for paying your deductibles and certain copays.
Medicare Supplement Plan N in 2021
Since Medigap Plan N was rolled out, enrollment in the plan has increased every year. At a reasonable price and giving a solid amount of coverage, it’s easy to see why people like Plan N so much. The plan uses small copays to keep monthly premiums lower.
From time to time, you may hear people talk about “Part” N. Part N, Medicare Supplement Plan N, Medigap Plan N, or Medicare Plan N all refer to this plan. The correct term is “Plan N,” though. Remember, “Parts” refer to Original Medicare, while “Plans” refer to Medigap.
What Does Medicare Supplement Plan N Cover
Medigap Plan N covers inpatient deductibles, which fall under Medicare Part A. Additionally, Plan N covers inpatient copays and coinsurance, minus a $50 copay. This is why Plan N monthly premiums are low.
If you visit a doctor, you will be charged a $20 copay plus the Part B deductible. Again, this $20 copay is what keeps your monthly premiums down.
You may have to pay excess charges if they are not banned in your state, but most doctors around the country accept Medicare, so excess charges are rare.
Plan N also covers emergency benefits for foreign travel. If you leave the U.S. and need medical treatment, Plan N has you covered up to your plan limits.
2021 Plan N Costs
On average, Plan N will cost you between $120-$180 every month. However, this is a general range, so in some states, you may see rates as high as $200, while in other states, they may be as low as $80. Premiums always depend on your personal information, as well as the plan letter you enroll in. Other factors that impact your rate are your state of residence, gender, age, and tobacco use.
Plan N Copays
Due to the lower monthly premiums under Plan N, beneficiaries must pay a small copay of $50 when visiting the emergency room if the visit does not result in inpatient admission. Also, you’ll have to pay a $20 copay when visiting a doctor’s office. However, if you visit an Urgent Care center, there is no copay.
So, if you cannot get an appointment with your doctor, it may be more practical to visit an Urgent Care center rather than the emergency room if your issue is minor. It is also important to remember that these copays do not count towards your Part B deductible.
Medicare Supplement Plan N Rate Increase History
One impacting factor to your monthly premium rate is the plan carrier you use. In the last five years, premium rates for Plan N have increased between 2% and 4%. These rate increases are less than the increases for Plan F and Plan G.
Plan N benefits are standardized by law, meaning they are always the same regardless of your carrier. Be sure to talk with your agent about the historical rate increases for the company you want to enroll with. Also, it’s always important to look for carrier reviews, no matter what letter plan you go with.
When To Enroll in Plan N
While you can enroll in a Medigap plan at any time of the year, it is best to enroll during your Medigap Open Enrollment Period or at another time when you have guaranteed issue rights. If you enroll outside one of these periods, you may be subject to medical underwriting, and you could even be denied benefits due to your health status.
Medicare Supplement Plan N Reviews
We generally hear positive reports for our clients with Plan N. As long as clients know and are prepared in advance that they’ll have to pay small copays, they are happy with Plan N.
If you are looking around for reviews of specific letter plans, always ensure you focus on reviews about plan benefits, not reviews of the carrier. Many times, negative reviews focus on carriers, not plans.
What carriers offer Plan N?
- The majority of larger and better-known carriers offer Plan N since it tends to be one of the more popular plans. Due to Plan N’s popularity, many lesser-known carriers also tend to offer Plan N.
Does Medicare Supplement Plan N cover the Part B deductible?
- No. Plan N does not cover the Part B deductible. The only plans that cover the Part B deductible are Plan C, F and High Deductible Plan F. However, Plan F is no longer available to new Medicare enrollees as it was phased out in 2020.
Does Medicare Supplement Plan N cover physical therapy?
- This depends. If your doctor states that physical therapy is medically necessary, then Plan N will cover treatments. Plan N will cover any out-of-pocket costs associated with physical therapy.
Does Medicare Plan N cover dental?
- No, there is no Medigap plan that covers dental services. If you would like dental to be covered, you will need a stand-alone coverage plan.
Medicare is complex, and new rules and regulations are added often. That is why our licensed agents are here to guide you through this process. We want you to find healthcare security, and we would never sell you a policy that doesn’t fit your health needs and your financial situation. Please give us a call or email us today.