Medigap Plans – Medicare Plan N

Unlike Medicare Advantage plans, medicare plan n doesn’t provide coverage for prescription drug benefits. If you need prescription drug coverage, you can enroll in a Medicare Part D plan separately. URL:

Medicare Plan N is an excellent choice for people who want a lower monthly premium and predictable out-of-pocket costs. It’s one of the most popular Medigap plans available and is ideal for people who are comfortable with paying copayments for office visits and emergency room visits, which are typically $20 for office visits and $50 for ER visits that don’t result in an admission.

Medigap Plan N is standardized and is offered by private insurance companies approved by Medicare. It fills in the gaps left by Original Medicare. However, the cost and number of insurers that offer Medicare Supplement Plan N varies by state.

Understanding the Basics: A Guide to Medicare Plan N

For this reason, it’s important to compare the prices and options of several different insurers before deciding on a plan. You should also keep in mind that premiums may change over time, based on inflation or other factors.

Generally speaking, it’s best to purchase a Medigap policy during the six-month Medigap open enrollment period that begins the month you turn 65 and are enrolled in Medicare Part B. During this window, you have guaranteed issue rights and insurance companies aren’t allowed to consider your health history when writing the policy. If you buy a Medigap policy outside of the open enrollment period, you’ll likely be subject to medical underwriting, which means that your premium could be higher or you might not get accepted altogether.