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Learn about Medicare Supplement Plan N with SelectQuote

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Couple enjoying the holiday together and excited to learn more about their Medicare Supplement Insurance Plan N options

Understanding Medicare Supplement Plan N

Medicare Plan N is one of eight standardized Medicare Supplement Insurance plans available for purchase in most states (Massachusetts, Minnesota, and Wisconsin have their own standardized Medigap plans). Since its introduction in 2010, Plan N has become one of the more popular Medicare Supplement Insurance plans, as it is a good option to help pay for copayments and deductibles not covered by Original Medicare Parts A and B. Medigap Plan N has a broad range of coverage at an affordable price.

What does Medicare Supplement Plan N cover?

Medicare Supplement Plan N fills the majority of coverage gaps left by Original Medicare. The only gaps not covered are Medicare Part B’s deductible ($203 in 2021) and any excess charges that fall under Medicare Part B which are above the Medicare-approved amount. This means that any time you are admitted to the hospital, your 20% coinsurance for Medicare Part B will be completely covered with Medigap Plan N.

Covered

Hospital Expenses: 100% Part A hospital expenses – all coinsurance and deductible expenses, up to 365 days after Original Medicare benefits are exhausted.

Hospital Expenses

100% Part A hospital expenses – all coinsurance and deductible expenses, up to 365 days after Original Medicare benefits are exhausted.

Medical Expenses: 100% of Medicare Part B coinsurance or copayments (except for a copayment of up to $20 for some office visits and a $50 copayment for emergency room visits not resulting in an admission).

Medical Expenses

100% of Medicare Part B coinsurance or copayments (except for a copayment of up to $20 for some office visits and a $50 copayment for emergency room visits not resulting in an admission).

Transfusions: Pays for the first three pints of blood you receive in a medical procedure.

Transfusions

Pays for the first three pints of blood you receive in a medical procedure.

Hospice Care: Pays Part A hospice care copayment or coinsurance.

Hospice Care

Pays Part A hospice care copayment or coinsurance.

Skilled Nursing: Pays facility care coinsurance.

Skilled Nursing

Pays facility care coinsurance.

Foreign Travel Medical Emergencies: Pays up to 80% of Medicare-approved emergency medical care when traveling in another country (up to plan limits).

Foreign Travel Medical Emergencies

Pays up to 80% of Medicare-approved emergency medical care when traveling in another country (up to plan limits).

Not covered

Part B Deductible: The Medicare Part B deductible for 2021 was $203. After the deductible is met, you pay 20% of the Medicare-Approved Amount (this is the amount a doctor or supplier that accepts assignment can be paid in Original Medicare) for most doctor services, outpatient therapy and durable medical equipment.1

Part B Deductible

The Medicare Part B deductible for 2021 was $203. After the deductible is met, you pay 20% of the Medicare-Approved Amount (this is the amount a doctor or supplier that accepts assignment can be paid in Original Medicare) for most doctor services, outpatient therapy and durable medical equipment.1

Part B Excess Charges: Providers who don’t accept Medicare assignment may charge up to 15 percent more than what Medicare is willing to pay, known as Part B excess charges. Medicare assignment is the Medicare approved cost for a particular medical service. Medicare assignment is accepted by Medicare-approved providers.

Part B Excess Charges

Providers who don’t accept Medicare assignment may charge up to 15 percent more than what Medicare is willing to pay, known as Part B excess charges. Medicare assignment is the Medicare approved cost for a particular medical service. Medicare assignment is accepted by Medicare-approved providers.

Prescription Drugs: Medigap Plan N does not cover prescription drugs. However, you can buy an additional Medicare Prescription Drug plan to cover prescription drug costs.

Prescription Drugs

Medigap Plan N does not cover prescription drugs. However, you can buy an additional Medicare Prescription Drug plan to cover prescription drug costs.

Who can benefit from this type of supplement plan?

Medicare Supplement Plan N can be a good option for those who are interested in Plan F and Plan G but are looking for a less expensive option. At SelectQuote, we can help you compare your options for Medicare coverage and determine if a Medigap Plan N plan is right for you.

Why Emily Chose Medicare Plan N

Emily, 67, wasn’t looking forward to navigating all the decisions she would have to make in order to go on Medicare. She knew about “the gap” in Original Medicare coverage and that she would have to choose between several Medicare Supplement Plans if she wanted the peace of mind of knowing she’d be covered.

Her goal was two-fold: one, get the broadest coverage she could find, and two, make sure it was a plan she could afford on her limited budget.

One plan stood out above the others once Emily noted it contained terms like “100% covered” when it came to hospital expenses and Medicare Part B coinsurance costs.

Because Emily has been relatively healthy, she wasn’t concerned about the $20 copayment for any doctor’s office visits as well as the $50 copayment for emergency room visits.

This particular Medicare Supplement Plan is one of the most popular of all, which made Emily feel even better about it. For these reasons, Emily chose Medicare Supplement Plan N.

Advantages to Medicare Plan N

  • Broad range of coverage at an affordable price.
  • Monthly premium is less than Plan F and Plan G but offers similar coverage.

Drawbacks to Medicare Plan N

  • Doesn’t cover your Part B deductible or Part B excess charges.

Medicare Supplement Plan N Costs

Monthly premiums are set by the private insurance companies who offer Medicare Supplement Insurance Plans and the rates are based on factors such as age, health status, location and gender. It is often in your best interest to shop around for Medicare coverage to ensure you are paying the lowest amount available to you. Companies cannot cancel your coverage unless you don’t pay the plan premium, you weren’t truthful on the application, or the Medigap insurance company becomes bankrupt or insolvent.

With Plan N, you’ll still have to pay your Medicare Part B deductible, which was $203 in 2021. You’ll also be responsible for copays of up to $20 per doctor visit and $50 at the emergency room if the visit doesn’t result in hospitalization.

How Pricing Works For This Plan

Pricing for Medicare Supplement Plan N varies by company. Medigap policies can be priced in 3 ways: community-rated, issue-age-rated, and attained-age-rated.

  • Community-rated: Generally, the same monthly premium is charged to everyone who has the Medigap plan, regardless of age. Premiums may go up because of inflation and other factors, but not because of your age.
  • Issue-age-rated: The premium is based on the age you were when you bought the Medigap plan. Premiums are lowered for people who buy at a younger age and won’t change when you get older. Premiums may go up because of inflation and other factors, but not because of your age..
  • Attained-age-rated: The premium is based on your current age, increasing your premium as you get older. Premiums are lower when you are younger, but continually increase as you age. Premiums may also increase because of inflation or other factors.2

When to Enroll in Medicare Supplement Plans

When you’re first eligible: The best time to enroll in a Medicare Supplement plan is when you’re first eligible. You are eligible to purchase a Medicare Supplement policy (Medigap) on the first day of the month in which you turn 65. This marks the beginning of your Medigap Open Enrollment Period which lasts for 6 months.

You must already be enrolled in Medicare Part A and Part B. During this period, you can buy any Medigap policy sold in your state, regardless of any health problems. You will generally see better prices and more choices among Medigap policies during this period.

Outside open enrollment: While it’s often better to get coverage when you’re first eligible, you can still apply for Medigap coverage after your initial enrollment period. However, if you apply for coverage after your initial enrollment period, there’s no guarantee that an insurance company will sell you a policy if you don’t meet the medical underwriting requirements.

FAQs About Medicare Supplement Plan N

How does Medicare Supplement Plan N compare to other plans?

Medicare Supplement Plan N is very similar to Plan F and Plan G, but can be significantly less expensive. The main difference is that your Part B deductible and Part B excess charges are covered under Plan F and Plan G.

Do Medigap plans vary by state?

Medigap plans are standardized, meaning they offer the same benefits, across most of the states, except for Wisconsin Medicare Supplement Plans, Minnesota Medicare Supplement Plans, and Massachusetts Supplement Plans.

Do Medicare Supplement plans cover pre-existing conditions?

While insurance companies can’t make you wait for your coverage to start, they may make you wait for coverage for a pre-existing condition. Coverage for pre-existing conditions can be excluded if the condition was treated or diagnosed within 6 months before the coverage starts under the Medicare Supplement plan.

After the 6-month period, the Medicare Supplement plan will cover the condition that was excluded. However, it is possible to avoid or shorten the waiting period for a pre-existing condition if you buy a Medicare Supplement plan during your Medigap open enrollment period to replace “creditable coverage” Medigap plan.3

How can I lower the costs of my Medigap Plan N?

While all Medicare Supplement plans are standardized, the cost of each plan is set by each individual insurance company. This makes it important to shop around to find the price that works best for your budget. At SelectQuote, we can help compare the rates and coverage options in just minutes.

Compare Medicare Supplement Plans

In most states, there are eight Medicare Supplement plans to choose from and all policies have been standardized. At SelectQuote, we can help you navigate your Medigap plan options, answering any questions you have to help you find the right plan for your needs and budget. Learn more about additional Medicare Supplement plan options below.

Find the Right Medicare Supplement Plan For You With SelectQuote

As your advocate, we can help you navigate your Medicare Supplement plan options, helping you understand the costs and answering any questions you may have. At SelectQuote, we’ll make sure you find a plan that meets your needs and budget.

No obligation to enroll
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