Ashford Insurance

Medigap Plan N

Medigap Made Easy

Medigap Plan N

If you’re eligible for Medicare, a Medicare supplement or “Medigap” plan offers optional supplemental insurance coverage. Medigap Plan N is a “plan” and not a “part” of Medicare, such as Part A and Part B, which cover your basic medical needs.

Medicare Supplement Plan N is one type of insurance policy that you can purchase to help lower your out-of-pocket costs from Medicare. These plans can cover costs like premiums, copays, and deductibles.

Choosing a Medigap plan can be confusing since various plans offer distinct levels of coverage and benefits. Understanding these benefits can help you choose a Medigap plan that’s right for you.

Ashford Insurance offers a selection of Texas Medigap Plan N‘s from many top carriers in Texas.

Texas Medicare Supplements are standardized by the Federal Government. They are labeled A, B, C, D, F, G, K, L, M, and N. Each standardized Medigap policy must offer the same basic benefits no matter which insurance company sells it. Cost is usually the only difference between Medigap policies with the same letter sold by different insurance companies. Plan A pays the Medicare hospital and physician coinsurance, the first three pints of blood, and 365 days of hospitalization beyond Medicare. Plans B through N provide these benefits and add more benefits such as coverage for Medicare deductibles, excess charges and limited preventive care, and foreign travel. You can only have one Med Sup plan. No one should try to sell you an additional Medigap plan unless you decide you need to switch policies.

Medicare Supplement Insurance Plan N

This is really a supplemental plan that offers a whole lot of the same benefits but there are a few exceptions that you ought to be aware of when looking at this plan that is listed below:

Plan N does not cover the deductible that comes with Part B Medicare.

It doesn’t cover the extra charges that might come with Part B.

What this means is that you’ll be responsible for paying for all these differences. When it comes to Plan N, has another difference, though it will pay most of the time 100% of the coinsurance of Medicare Part B, there can be exceptions. The difference is you can really be required to pay a co-pay of up to $50 for some ER visits that don’t end up with admission to the hospital and that you need to pay as much as $20 for some office calls. Give us a call on Plan N today!

Open Enrollment for Texas Medicare Supplement Insurance is at age 65 for all consumers, including those already receiving Medicare due to disability. The Open Enrollment period is a six-month period, beginning when you are both age 65 or older and enrolled in Medicare Part B, companies must sell you any Medicare supplement plan they offer. After this limited open enrollment period, companies can choose who they will cover and how much they will charge based on your health. If you have an individual or “bank group” insurance policy, becoming Medicare eligible does not require you to cancel it and purchase a Medicare supplement. Doing so may save premium costs but it is important to compare benefits before deciding which will work best.

If you are eligible for employer retirement insurance, review the plan carefully to understand what benefits are available and how it works with Medicare. Be aware that employer plans are not standardized and are not subject to the requirements governing standardized Medicare supplement policies. Also, it is important to remember that if you leave an employer plan you may not be able to go back on it.

What is covered under Medicare supplement Plan N?

Medigap only covers Medicare-approved services. Therefore, it won’t cover things like long-term care, vision, dental, hearing aids, eyeglasses, or private-duty nursing.

Medicare supplement Part N covers the cost of the following:

  • Medicare Part A deductible
  • Medicare Part A coinsurance and hospital stays for up to 365 days
  • Medicare Part B coinsurance for outpatient care and procedures
  • Medicare Part B copays at doctors’ offices
  • blood transfusion (up to the first 3 pints)
  • hospice care and skilled nursing facility coinsurance
  • 80 percent of healthcare costs while traveling outside the United States

Medicare supplement Plan N doesn’t cover the deductible for Medicare Part B. This is because of a change in Medicare law that prohibits all Medigap plans from covering the Medicare Part B deductible.

While Medigap Plan N covers 100 percent of your Plan B coinsurance, you’re responsible for doctor’s visit copays up to $20 and emergency room visit copays of $50.

Plan N is like plans F and G, but it can be significantly less expensive. For some people, Plan N may be a cost-effective solution for Medigap coverage.

To see a list of all the Medicare supplements available – look at our Medigap supplement chart. This chart can be found in the booklet called “Choosing a Medigap,” published by Medicare. The chart details the benefits that are included in each Medicare supplement, which are labeled Plan A – Plan N.

Also, don’t forget your prescription drug coverage. There are two ways to get Medicare prescription drug coverage, either through a Medicare Prescription Drug Plan (Part D) or through a Medicare Advantage Plan with prescription drug coverage (MA-PD). Let the sales agents at PRS help you discover the most affordable Medicare plans available to you, and to understand when your coverage starts, what’s covered, and what to expect.