Medicare is the healthcare insurance program that is offered by the Federal government to people who are aged above the age of 65. This plan usually covers up to 80% of medical costs that one incurs when they receive medical treatment. That means that the remaining 20% has to be paid by the patient out of their own pocket and that is why Medigap plans are important. Medigap Plan N is meant to cover any medical expenses that are not covered under Medicare Parts A and B. Plan N offers the same comprehensive benefits as Plans F and C. Both Plans F and C are not available to new enrollees, leaving Plan N as the only best option. The good thing about Plan N among Medicare supplement plans 2022 is that it offers lower premiums, which tend to be an attraction for most people.
What is covered under Medicare Supplement Plan N?
Medigap Plan N specializes in covering four main areas, that is, blood, hospice care, hospitalization, and medical expenses. Under the hospitalization sub-area, Plan N pays Part A coinsurance and ensures that the insured continues to receive coverage for 365 days after Medicare benefits run out. Under medical expenses sub-area, Medigap Part N parts for Part B coinsurance in addition to 20% of expenses approved by Medicare. Under blood sub-area, Part N pays for the first pints of blood one receives in a year while Medicare pays for any pints of blood beyond that.
When it comes to hospice care, Part N of Medigap insurance pays for Medicare Part A coinsurance. If one happens to be hospitalized, Medicare Part A deductibles will be paid by Part N policy. Care received under skilled nursing is also covered under Part N.
What does medicare supplement plan n not cover?
Whereas Part N covers many things, there are certain things that it doesn’t cover. For instance, Part N usually doesn’t cover Part B deductibles under Medicare. The same applies to excess charges. Excess charges refer to the difference in terms of healthcare expenses that Medicare approves and what a health facility charges. This happens when a healthcare facility charges more money for the services offered than the amount approved by Medicare for the same kind of service. For this reason, it is important that you understand the amount of money Medicare pays for your treatment and what the health facility you are visiting charges so that you don’t end up having to pay a lot in excess charges.
Medigap Part N also doesn’t pay coinsurance and copays that emanate from someone visiting an emergency room or a doctor.
How Much do you have to pay for Medicare Supplement Plan N?
Like all other Medigap policies, how much you will be required to pay for your Medigap Part N policy will hugely depend on different factors. One of the factors is whether you smoke or not. Obviously, smokers have to pay more than non-smokers. Other factors that determine how much one has to pay in premiums include age, gender, zip code, and state among others.