Medicare Supplement Plan N, also called Medicare Plan N, is one of the Medicare Supplement plans that most states offer. First introduced in June 2010, enrollment in Medicare Plan N has risen from 7 percent in 2014 to 11 percent 2016. It is expected to remain a popular plan for people looking for lower premiums combined with fairly broad coverage.
Plan N offers the same coverage in all states except Minnesota, Massachusetts, and Wisconsin. That means that regardless of which insurance company you buy the policy from or where you live, you will get the same basic benefits.
When you compare Medicare Plan N to other Medicare Supplement plans, you will find that it covers more than Plans K and L and that it has lower rates compared to Plans D, F, and G.
Medicare Supplement Plan N Benefits and Part A
Medicare Plan N is one of the Medicare Supplement plans that work well with Part A. Plan N covers all of the Part A deductibles, the copayment or coinsurance for hospice care, coinsurance for care in a skilled nursing facility and hospital coinsurance amounts. Medicare Supplement Plan N also covers hospitals for up to 365 days after Part A benefits expire. Under Medicare Supplement Plan N, the cost for the first three pints of blood needed for a blood transfusion is covered; Original Medicare pays for additional transfusions.
Medicare Supplemental Plan N Benefits with Part B
- Part B coinsurance amounts except for a $20 co-pay for office visits
- Up to $50 for an emergency room visit if you are not admitted to the hospital
- It also pays coinsurance amounts for Part B’s preventive care services
- Plan N does not cover your Part B deductible or any excess charges your doctor may charge
- Excess charges are the difference between what your doctor charges for a service and the amount Medicare approves for payment
Does Medicare Supplement Plan N have a Network?
With a Medicare Plan N policy, you do not have to worry about staying within a network when you need care. You can go to any hospital or doctor in the country that accepts Medicare. Also, Plan N will pay up to 80 percent of the cost if you need emergency medical care within the first 60 days you are in another country.
Who Typically Buys Medicare Plan N?
Medicare Plan N appeals to budget-conscious people who do not mind paying co-payments and an annual deductible in exchange for a lower premium. Medicare Supplement Plan N is also attractive to healthy individuals who do not visit their doctor frequently but want to minimize their risk of the higher costs associated with unexpected hospital care.
When Can I Buy Medicare Supplement Plan N?
You can enroll in Plan N as long as you have Medicare Parts A and B. The optimal time to sign up is during your sixth-month Medigap Open Enrollment Period, which starts on the first day of the month in which you are both age 65 or older and enrolled in Part B.
During this open enrollment period, insurance carriers cannot reject your application based on your health status or charge you more because of pre-existing health conditions. If you enroll after your open enrollment period ends, insurance companies can use medical underwriting when reviewing your application and may charge you a higher amount based on your health condition. Insurance carriers may also reject your application entirely if you enroll in a plan after the open enrollment period. Insurance carriers can also use underwriting if you switch from another Medigap plan to Medicare Plan N; again, they might charge you a higher amount or reject your application.
Special open enrollment periods are available if you lose your current coverage:
- Your insurance company goes out of business
- Or you move to another location.
Never assume that you are ineligible for Medicare Supplement plans. Always discuss your situation with an insurance agent who can guide you toward your best options. An agent can also help you find the best Medicare Supplement Plan N available in your area.
How Much Does Medicare Plan N Cost?
Because Plan N is one of Medicare’s 10 standardized Medigap plans, the basic benefits do not change between insurance companies. Medicare Supplement Plan N rates will, however, be different, so you will need to request and compare quotes. Sample online quotes from top-rated companies for a 65-year-old female who is a nonsmoker:
- Texas: Zip Code 73301
Premiums range from $80.21 to $128 a month
- Florida: Zip Code 32301
Premiums range from $137.83 to $148.54 a month
- Pennsylvania: Zip Code 15201
Premiums range from $97.94 to $228.41 a month
We are not sponsored or endorsed by any of the companies in the above online quotes. The quotes are just examples of Medicare Supplement Plan N rates to give you an idea of how pricing can differ between carriers in the same location as well as different geographic areas.
Is There A Difference in Medicare Supplement Plan N from Company to Company?
Although Plan N essential benefits are standard in 47 states, the premiums are not. Costs vary between insurance carriers and can differ based on location, whether the company offers extra benefits or how the company rates its premiums. Insurance carriers use three ways to determine their premiums:
Community rates: Each person pays the same premium regardless of age.
Age rates: Each person covered pays based on their age when they first enroll; premiums do not increase with age.
Attained-age rates: Beneficiaries pay based on their current age; premiums rise as you get older. Long-term, these are usually the most expensive since costs continue to increase.
Remember that regardless of how an insurance carrier determines its costs, carriers typically conduct annual reviews. Carriers can adjust their rates based on inflation, rising health care costs or other factors.
What Is The Best Way to Apply for Medicare Supplement Plan N?
Because the premium rate differs between insurance carriers, the best way to apply for a plan is to talk with an insurance agent. An agent can directly compare plans between several carriers and make sure you get the best rate. We can help you find the best Medicare Supplement plans available in your area.
Medicare Supplement Plan N Companies We Recommend
Many companies offer Medicare Supplement Plan N, but not all companies offer the quality service and reliability you want in an insurance carrier. Below are a few “preferred companies” to consider when researching your Medicare Supplement insurance options:
We are not sponsored or endorsed by any of these companies. We prefer them because they offer competitive quotes, are well-established companies with a history of reliability and are top-rated companies with a solid history of rate stability. These preferred companies also take advantage of innovative technology to create a more efficient buying experience for the buyer as well as a much higher level of customer service.
Will My Rate Ever Change?
Insurance carriers conduct annual reviews of the Medigap plans they offer, and they have the option to raise Medicare Supplement Plan N rates based on the increased cost of care, inflation or other economic factors. It is important to have a good relationship with an agent you trust because we can shop your rate year to year to make sure you still get the best deal.
This website is for informational purposes only. To research Medicare Supplement plans and premiums and to compare quotes, use our online form below. Choose your state to find the best Medicare Supplement Plan N among the top carriers, or call us at (888) 414-4547.