There are 10 standardized Medigap plans available in the United States and almost all states have them. Medicare supplement Plan N is one of the more popular plans. This plan covers the excess costs that Medicare does not cover, including cost sharing costs that you might incur from hospitals and physician fees. Medicare supplement Plan N is also standardized like all the other plans. This means you will have the same Medicare supplement Plan N no matter which insurance company you decide upon or where you reside.
There are many benefits to Medicare supplement Plan N. Some are your Medicare Part A hospital stay coinsurance costs after Medicare benefits are used. Medicare Part A deductible and Medicare Part A hospice coinsurance or copayment and Medicare Part B deductible are covered. Your first three pints of blood you need for a medical procedure, a nursing care facility coinsurance and foreign health costs up to 80% are covered if needed.
Those who have Medicare supplement Plan N will have copayments in certain conditions. A copayment of $20 may be needed for specialists and up to $50 if you need to go to an emergency room and are not admitted into the hospital. Also to note, Medicare supplement Plan N will not pay for your Medicare Part B deductible or any Part B excess charges which means you will be responsible for those particular costs.
As specified before, Medicare supplement Plan N is the same everywhere and will cover the same benefits. The only difference will be in the costs of the premiums from different insurance companies and the area where you live.
These Medicare supplement plans are also known as Medigap plans. It is important to realize when you join a Medigap plan, to pay attention to the cost of the premiums and how an insurance agency rates their premiums.
These insurance agencies may have three ways to decide their premiums costs by age related medical issues, the age you are and community rated.
When you first enroll in a Medicare supplement plan, your age will be a factor in deciding the cost of the premiums. Medicare supplement plans charge the same premiums regardless to the age of the person applying for a Medicare supplement plan. Medicare supplement plans issue their premiums on the age you are when you join and if one was to wait until they were older, the costs of the premiums can increase greatly. It is wise to get a Medicare supplement plan when one first gets their Medicare Part A and Medicare Part B plans.