Medigap Plan N is one of the Medicare Supplement plans that covers out-of-pocket costs that Original Medicare (Parts A and B) does not cover, such as coinsurance and hospital costs, skilled nursing facility care coinsurance, among others.
It is noteworthy that Medigap Plan N is designed to work in conjunction with Original Medicare, so you must initially be enrolled in Medicare Part A and Part B to qualify for it.
There are several criteria and benefits attached to Medigap Plan N, and these would be critically examined in this piece.
5 Major Benefits of Medigap Plan N
Medigap Plan N provides a couple of benefits to Medicare beneficiaries, including:
- Inclusion of Medicare Part A coinsurance and hospital costs: Medigap Plan N covers the coinsurance, copayments, and deductibles associated with Medicare Part A hospital stays. This can help reduce or eliminate out-of-pocket costs for hospital stays.
- Provision for Medicare Part B Coinsurance and Copayments: Medigap Plan N covers the coinsurance and copayments associated with Medicare Part B medical services.
This equally helps to reduce or eliminate out-of-pocket costs for doctor visits and other medical services.
- Skilled Nursing Facility Care Coinsurance: There is a provision for skilled nursing facility care under Medigap Plan N, which helps to reduce or eliminate out-of-pocket costs for Medicare-covered skilled nursing care.
- Provision for Foreign Travel Emergency Need: Medigap Plan N covers emergency medical care received outside of the United States. This can provide peace of mind for those who frequently travel outside of the country.
- Part A hospice care coinsurance or copayment: Medigap Plan N also covers the coinsurance or copayment for hospice care provided by Medicare Part A.
- Relatively Lower premiums than other Medigap plans: Medigap Plan N typically has lower monthly premiums compared to other Medigap plans, such as Plan F or Plan G.
CAVEAT: It should be noted that Medigap Plan N does not cover the Medicare Part B deductible or excess charges. The Part B deductible is the amount you must pay out-of-pocket each year before Medicare covers certain medical services.
Conditions for Medigap Plan N
To enroll in Medigap Plan N, you must meet the following conditions:
- You must be enrolled in Medicare Part A and Part B to be eligible for Medigap Plan N.
- You must live in the state where the plan is offered. Although Medigap Plan N is offered in most states, not all.
- You must apply during your Medigap Open Enrollment Period. This starts on the first day of the month when you are both 65 years old or older.
- You must be ready to answer medical questions, especially when you enroll outside of the Medigap Open Enrollment Period.
Are you confused as regards determining whether Medigap Plan N is the best supplement plan for you or not? Knowing the right answer depends on your healthcare needs and budget.
Each Medigap plan offers different levels of coverage and may be better suited for certain individuals. To learn more, speak with our licensed medicare expert – MedicareOnVideo – to determine which plan best meets your needs.
In the same vein, we recommend you watch the Video series on “Medigap Plan N – What You Need to Know.”
You can contact us directly at 1-877-855-3484. To understand the A-Z of Medicare, get our Medicare ebook – Medicare Made CLEAR, which contains up-to-date information about all Medicare areas of coverage.