With the coverage provided by Medicare’s Supplement Plan N, you could enjoy powerful coverage and incredible savings on our medical expenses. This plan isn’t for everyone, but we want to show you what Medicare Supplement Plan N in 2019 has to offer you, then you can figure out for yourself if it might be the right one for you.
It’s not your only choice by a long shot, but we think it is worth considering for every senior because all the value that is packed into it. It is a high coverage plan that is usually priced reasonably, so many seniors go for this one each year, making it one of the more popular Supplement plans.
You can find this plan at a number of different insurance companies. They won’t all sell it for the same price, so be sure to compare their rates to get the best deal.
What Plan N Is Offering
Now, let’s take a look at what you get when you sign up for this plan. The coverage takes care of all sorts of expenses for you- some of them are very common, while others are far less so. For instance, Plan N will cover you for blood you probably need to have through the year. It takes care of three pints each year. It also covers the cost of foreign emergency travel, up to 80%, which most people never use.
On top of those two coverage items, you can also be covered for Medicare Part A’s deductible and copayment. These are expenses you pay once a year and for each visit, respectively. You can also be covered for the Part B copayment, but not the Part B deductible. Plan N covers you for skilled nursing care coinsurance as well.
This plan accompanies the Medicare basic plan, though you buy it from a different source. It is meant to complement that basic Medicare plan, filling coverage gaps that it leaves for you.
Plan N provides some of the most comprehensive coverage you can find, so it’s no wonder it is so sought after. Every insurance company that sells it has to offer you the exact same coverage. They may be able to change the price to whatever they like, but they cannot touch that coverage. Only Medicare gets to do that, and if Medicare plans to make any changes to Plan N or any of the other Supplement plans, then it will let its members know about those changes before they occur. No changes are scheduled to take place for the coming year, though.
Applying for and Using Plan N
Would you like to know how to sign up for Plan N? It’s very simple, and all you have to do is go to the website of the insurance company you plan to buy it through to complete the form they have there. You can also go to an online price comparison service and use their free tool to compare the rates on the same plan from different providers. So, you could input Plan N into their search form, and they would find you multiple quotes for that plan for various providers in your area. Then you can follow the links on their pages to go the individual company websites to sign up for the plan.
Just because you applied for the plan, that does not mean that you will be approved. Most people do get approved, though. You simply have to meet the basic requirements if you want your application to be approved. You have to be 65 years old and be a US citizen. You also need a basic Medicare plan, but don’t sweat it if you don’t have one yet. You can always sign up for that plan at the same time you sign up for your Plan N.
If you are not yet 65, but you have a qualifying medical condition, then you can apply earlier. The most common qualifying medical conditions are end stage renal disease and disabilities of any kind.
Before you sign up for Medicare Supplement Plan N in 2019, you need to know how it will work with other insurance plans. You can’t sign up for this plan if you already have Medicare Part C for example. That plan and this plan overlap in a few ways, and you would have to drop one of them. You also cannot have a second Supplement plan. They all share some common coverage and no overlap is allowed between different plans that you may have. If you have a medical coverage plan from your employer or from your union, then that will likely need to be dropped as well. In fact, the only plans that Plan N and other Supplement a plan always work with are basic Medicare and Medicare Part D (for prescription drugs).
Once you sign up for any Supplement plan, you are tied to the contract for it. You can’t just change plans one whim if you don’t like your coverage or you find a cheaper plan. Most of the time, you will not be able to change plans while you still have a current contract with one. You have to wait until your contract is up, and then you are free to renew, cancel or change your plan as you see fit. It is a good idea to be looking ahead and determine if you need a different plan before your current one has expired. That way, once the current plan is finished, you can sign up for whatever else suits you better.
Comparing Plan N
Before you settle on any Supplement plan, you should look at all your choices. You have nearly dozen Supplement plans to choose from, and some of them may be better options for you than Plan N. Of course, you won’t know for sure if there is a better plan until you do the research and compare the plans. You can look at several similar plans to see how they stack up for Plan N.
Since you are interested in Plan N, we want to show you a few plans that have similar coverage. That would be Plan F and Plan G. These two plans are both high coverage plans that cover you for more medical expenses than Plan N does.
Plan G covers only a bit more, taking care of some minor copayments that Plan N asks you to pay on your own and covering you for the Medicare Part B excess charges. Those may not be common or expensive items for you, so you may not want to spring for Plan G over Plan N, but you need to consider every difference in coverage very carefully. See wat pertains to you and ensure you are covered like you need to be. Also look at the price of the plan and ensure you can afford the plan, making certain that you are saving as much money as possible.
For Plan F, you get full coverage on all supplemental items. That includes all the things that Plan N covers and more. The additional items are the copayments and excess charges we talked about already, as well as the Medicare Part B deductible. That deducible is $183, and it may or may not be worth your while to have it covered by a Medicare Supplement plans. In many cases, seniors find that it is cheaper to just pay that expense on their own.
Hopefully, this information will help you make the right decision. Medicare Supplement Plan N for 2019 is a great plan with a lot of offer you, but you need to ensure it fits your needs and your finances before you try to apply for it. Look at your options and be certain that you are making the right choice.