Medicare Plan N – What Does It Cover?

Medicare Supplement Plan N has grown popular in the Medicare world for its comprehensive coverage and affordable rates. However, with so many options to choose from, it’s hard to know if this plan could be right for you. You need to understand what a plan covers, how much it costs monthly, and how it compares to other plans. Let’s take a dive and see what all Plan N covers. 

What does Plan N cover?

Once you begin to consider Plan N, one of the first questions you’ll ask is, “What all does this plan cover?” First, all your standard preventative care gets covered by Medicare at 100%. Your Plan N helps takes care of the remaining costs of non-preventative healthcare services listed under Part B and so much more.

This coverage includes services like doctor visits, ambulance rides, lab work, outpatient surgery, durable medical equipment, diabetes supplies, and image testing. Plan N also pays for your hospital deductible, Part A coinsurance, first three pints of blood, and hospice and skilled nursing facility coinsurance. Get a more in-depth review at Boomer Benefits – Medicare Plan N. 

What doesn’t Plan N cover? 

You must pay the Medicare Part B deductible with Plan N. For 2022, the cost is $233. After you satisfy the deductible, your policy covers the remaining 20% after Medicare Part B pays its 80%.  

You will have some out-of-pocket costs with Plan N. These can be payments of up to $20 for doctor appointments or up to $50 for emergency room visits. 

With Plan N you could also face Part B excess charges. If your healthcare provider accepts Medicare but does not accept their approved amount, providers can charge up to 15% above what Medicare pays for their services. You would be responsible for these excess charges under Plan N. There is no need to assume this means you will face excess charges every single time you have a healthcare service, though. You can avoid these types of charges by ensuring your medical providers accept Medicare rates. As long as Medicare’s assignment is approved, you will not have to worry about getting any excess charges. 

How much does it cost? 

Now, if that sounds like a good amount of coverage, your next question is probably, “Well, how much does it cost to have?”

Medicare Supplement plans such as Plan N have monthly premiums. However, the premium will depend on several factors including age, zip code, gender, and tobacco use. Plan N premiums tend to be cheaper than those with Plan F or Plan G. There are pluses and minuses to all of these supplement plans, so one downside to having a lower premium is the various out-of-pocket costs you will have.

Who is eligible for Plan N?

You don’t need to worry too much about whether you would be eligible for this plan. You can qualify for a Plan N as long as you have Medicare Parts A and B and it’s available in your zip code.

The easiest time to enroll in this Plan N is during your Medicare Supplement Open Enrollment Period, which is a six-month window based on your Part B effective date. You can enroll in a Medicare Supplement plan without answering any health questions during this time. You can still apply for Plan N after your window closes, but you would have to pass a health underwriting before your application can be approved.

Is Plan N suitable for me?

The most important factor to remember when it comes to Plan N is that if Medicare approves of the service, so will your Plan N. Although these policies tend to have lower premiums than other plans like a Medicare Supplement Plan F, you will be responsible for certain copays and excess charges.

If you are unsure how Plan N compares to other supplement plans, contact a reputable Medicare broker for help with comparing your options.