Medigap Plan N: Which Medicare Supplement Plan Is Right for You?

Confused about Medicare and Medigap plans?

When you turn 65, you are eligible for Medicare Part A and B which will help you cover many of your health costs in retirement.

But neither part covers all costs completely. Uncovered costs are often called the “gap” costs and can be covered by supplemental policies sold by private insurers. These policies are known as Medigap Supplements.

There are several choices for Medigap Supplement Plans. They are identified by letters: A, B, C, D, F, G, K, L, M, and N. Medigap Plan N is worth exploring, as it offers good medical coverage for less.

Read on to learn if it’s the right plan for you.

What Does Medigap N Cover?

Medigap Plan N is a supplemental policy that covers the following costs that are NOT covered in Medicare A and B:

  • Medicare Part A coinsurance and hospital costs
  • Medicare Part B coinsurance
  • Blood (first 3 pints)
  • Part A hospice care coinsurance or copayment
  • Skilled nursing facility coinsurance
  • Medicare Part A deductible ($1,408 in 2020)
  • Foreign travel emergency costs

What Plan N doesn’t cover includes Part B deductible ($198 in 2020), any excess charges by your doctor (up to 15% of total cost), and certain co-pays. 

In order to decide if this is a good supplemental plan for you, first begin to whittle down other plans that will not work for you.

Comparing Plan N to Like Plans

To do a Medicare Supplement comparison, that is, between the plans listed above, you can look at an online comparison chart. Or, better yet, consult a helpful guide online or from an insurance agent.

For our purposes here, there are some plans you can eliminate when you are weighing options alongside Plan N:

  • Plans C and F are no longer available for new enrollees after January 1, 2020.
  • Plans A, B, K, L, and M are not as comprehensive as Plan N. They cover much less.

Plans D, G, and N are worth comparing, as they cover the most costs. The right plan will be determined mainly by your health needs and the premium costs.

Plan N vs Plan G

Plan G covers the items that Plan N doesn’t. That means that Plan G’s premiums will be higher. However, if you visit the doctor often, or have to make a few emergency room trips in the course of a year, you might save money with Plan G.

But, if you are in relatively good health and want to save money on premiums, Plan N is a good option.

Plan N vs. Plan D 

When compared side-by-side, these two plans have the same coverage, but there is one big difference.

As mentioned above, Plan N will have certain copays: $20 for some office visits, and $50 for emergency room trips that do not result in hospital admission. Plan D does not have these copays.

Your choice will depend on the premiums. If Plan N is significantly cheaper than D, then N will provide better savings. If the two plans have similar costs, then D is the better choice since it will save you from paying copays.

Medigap Plan N Offers a Balanced Approach

Medigap Plan N is a popular gap plan due to its excellent coverage and lower premiums. If you are in relatively good health and want to keep premiums low, Plan N is the optimal choice in a supplemental plan for you.

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