If you have seen sample quotes for Medigap Plans F, G and N, then you know Medigap Plan N is much cheaper.
Medicare Supplement Medigap Plan N covers just about everything that Plans F and G cover.
Medigap Plan N Medical Coverage Include:
There are a few additional costs that you will have to pay in addition to the Medigap Plan N premium:
With Medigap Plan N benefits you will be responsible for paying your Medicare Part B deductible which will be $185 for 2019.
Another cost Medigap Plan N allows is for doctors to charge up to $20 in co-payments.
This means that every time that you go to the doctor you will probably have to pay a $20 co-payment.
While this does not sound like a lot, if you go to the doctor 12 times a year, that would be an additional $240.
Doctors are also allowed to bill you for excess charges for your visit.
These excess charges can be up to 15% of the doctors bill that Medicare allows.
That means that if you go to the doctor and Medicare allows only $200 of the total bill.
You could be on the hook for an additional $30 in allowed excess charges.
If you add the $20 co-payment, the doctors’ visit cost you $50.
If you were to go to the doctor 12 times in one year, that is an additional $600 in medical costs that you will have to pay out of your pocket.
In addition, if you go to the emergency room, they can charge you a co-payment of up to $50.
I think that it is safe to assume that if you find yourself in an emergency room, once you get out, you will have to see a doctor multiple times to treat the reason you had to go to the ER.
For these reasons you need to be sure that you can afford a bad and ultimately costly health year before deciding on Medicare Plan N coverage.
“Plan N coverage is a good choice when there is a large price disparity between it and Plan G. It provides the same coverage as Plan G minus the Part B excess charges. National studies have shown that approximately 95% of Medicare providers accept the Medicare assigned rate. This means that only an estimated 5% of providers will add Part B excess charges. The other thing to consider is that Plan N coverage has up to a $20 co-pay for office visits and $50 for emergency room visits. Plan G has none. For someone who frequents the doctor often you find yourself spending more in co-pays than you save in monthly premium.”
Sean Senseman of Medicare About You
Medigap Plan N makes sense for people who are used to co-payments and are able to pay an extra couple of thousands of dollars if they have some health problems that year.
But consider, as you get older, health problems are much more likely to occur.
Even if you can afford a few extra thousands of dollars a year to cover the costs that Medigap Plan N coverage does not cover.
| Age | Plan N cost | Plan g | Plan F cost |
|---|---|---|---|
| 65 Years Old | $105.62 | $131.00 | $161.00 |
| 66 Years Old | $111.00 | $131.00 | $165.00 |
| 67 Years Old | $116.00 | $131.00 | $169.00 |
| 68 Years Old | $117.00 | $131.00 | $175.00 |
| 69 Years Old | $121.00 | $135.00 | $190.00 |
Sample Quotes: Male – Non-Tobacco – Living in Hagerstown, MD
Check out these sample rates for Plan N, Plan G & Plan F.
| Age | Plan N cost | Plan g | Plan F cost |
|---|---|---|---|
| 65 Years Old | $92.00 | $119.00 | $151.00 |
| 66 Years Old | $97.00 | $119.00 | $151.00 |
| 67 Years Old | $101.00 | $119.00 | $151.00 |
| 68 Years Old | $105.00 | $122.00 | $157.00 |
| 69 Years Old | $110.00 | $126.00 | $163.00 |
Sample Quotes: Female – Non-Tobacco – Living in Hagerstown, MD
Medigap Plan G offers all of the same coverage as Medigap Plan N coverage but does away with some of the costs you are responsible for with Plan N coverage.
Both plans require you to pay the Medicare Part B deductible which is $185 in 2019.
However, Plan G will cover the three costs that Plan N coverage does not.
Plan G does not have any co-payments for doctors’ visits or emergency room visits.
| BENEFITS | PLAN N | PLAN G | PLAN F |
|---|---|---|---|
| Part A HospitalCo-Insurance | YES | YES | YES |
| 365 Hospital Reserve Days | YES | YES | YES |
| Part B Co-Insurance /Co-Payment | YES | YES | YES |
| Blood Benefit(First 3 Pints) | YES | YES | YES |
| HospiceCo-Insurance /
Co-Payment | YES | YES | YES |
| Skilled Nursing Facility Co-Insurance | YES | YES | YES |
| Part A Deductible | YES | YES | YES |
| Part B Deductible | NO | NO | YES |
| Part BExcess Charge | NO | YES | YES |
| ForeignTravel Benefit | 80% | 80% | 80% |
| Out Of Pocket Limit | N/A | N/A | N/A |
Medigap Plan G also covers any doctors excess charges.
This means that with Plan G, as compared to Plan N benefits, your annual out of pocket medical expenses after paying the Plan G premium will be just the Medicare Part B deductible ($185 in 2019).
When you compare Medicare Supplement Plan N benefits to Plan G there are a lot of unknown variables that can cost or save you a good deal of money.
Senior Benefit Services will be able to help guide you through choosing a Medicare Supplement Plan.
There are many factors that determine the Best Medicare Supplement Plan for you.
The Experts at Senior Benefit Services have been specializing in helping seniors make the best Medigap insurance choices for over 50 years!
Call now at 1-800-924-4727 or fill out the easy and convenient ‘Start Free Comparison’ form in this article.
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