3) Supplement Insurance Plan N (3 of 5)
3) Supplement Insurance Plan N (3 of 5)
Since 2010—the introduction year of Plan N, the supplement insurance plan has become popular amongst baby boomers that prefer to pay a lower premium in return for receiving a small yearly deductible and small copayments.
Plan N covers hospital costs and coinsurance for Part A and Part B, nursing facility costs, foreign travel emergency, Medicare Part A deductible, and hospice care. Plan N does not offer coverage for some hospital visits, meaning you will have to pay $20 visits and 50$ for visits to the E.R. However, people admitted into the hospital will have these charges waived. Unlike Plan F and G, Plan N does not cover excess charges.
Doctors not participating in Medicare may charge patients 15 percent and more of the medical costs. This means the patient will have to pay an additional 35 percent after the Part B deductible. If you this is not your concern, you can select Plan N as your supplemental insurance plan.
Baby boomers that do not require regular visits to the doctors, going only once or twice each year, should consider selecting Plan N. In comparison to Plan F, Plan N offers them about 30 percent lower premiums.