Medicare Supplement Plan N Coverage Review

As a Independent Broker I am always looking for ways to save my clients money and maximize their benefits. One plan that covers people at a high level is Medigap Plan N. Plan N is probably one of the most confusing plans

What does a Plan N cover?

As you can see in the chart below, Plan N is one of the more comprehensive Medicare Supplement options available. This plan requires you to pay the Medicare Part B deductible, a maximum of a $20 copay at the doctor, and a $50 copay emergency room visit cost (if you are admitted to the emergency room, that copay is waived).

Medigap Plans

Plan N may also expose you to excess charges. Although relatively uncommon, it is vitally important to know how excess charges work before deciding if a Plan N is the best choice for you. Doctors reserve the right to upcharge your service by a maximum of 15% above the Medicare-approved amount. With Plan N, you’d be paying for this 15%. The only plans that cover excess charges are Plan F and Plan G.

Who should choose Plan N?

In my experience, those who choose Plan N are either individuals who are exceptionally healthy and will not have to pay co-pays at the doctor and hospital on a regular basis or those who wish to have lower premiums than a Plan F or Plan G.

Who shouldn’t choose Plan N?

If you have some sort of health issue that requires regular doctor’s office or Emergency Room visits, Plan N may not be the best option. The co-pays for such visits can quickly add up to overcome the premium savings when compared to a higher level of coverage such as Plan F or Plan G.

Our recommendation:

Plan N should be a part of any Medicare Supplement comparison and should be considered a very good option for those who wish to have lower monthly premiums and are okay with exposure to a bit higher out-of-pocket cost. You would literally have to go to the physician 3 times or more per month every month to offset the savings.