Medicare Supplement Plan N - 2022
When it comes to selecting a Medicare Supplement plan, the Medigap Plan N holds the number two spot, next to the Plang G for plan year 2022 and beyond.
Plan G is very similar to Plan N with a few exceptions. The exceptions surround copays, and excess charges.
For Medicare Beneficiaries willing to pay a small annual deductible of $233 for plan year 2022, copays between $0 and $50, and excess charges that can equal an extra 15% of the total allowable bill this plan might be your preferred plan.
Medicare Supplement Plan G is today’s most compressive Medigap plan available starting January 1, 2020. You may find yourself willing to take on more cost to use your plan verses paying a higher premium. This is one of the reasons Medicare beneficiaries select the Plan N.
Before you make your decision, based solely on saving on the monthly premium it’s important to remember the potential backend cost once you begin using this plan.
Medigap Plan N Benefits
- Medicare Part A Coinsurance & Hospital Cost
- Medicare Part B Coinsurance & Copayments
- Blood First 3 Pints
- Medicare Part A Hospice Care Coinsurance & Copayments
- Skilled Nursing Facility Coinsurance
- Medicare Part A Deductible
- Medicare Part B Copayments
- Medicare Part B Deductible
- Medicare Part B Excess Charges
- Foreign Travel Emergency Coverage (up to plan limits)
Medigap Plan G Benefits
- Medicare Part A Coinsurance & Hospital Cost
- Medicare Part B Coinsurance & Copayments
- Blood First 3 Pints
- Medicare Part A Hospice Care Coinsurance & Copayments
- Skilled Nursing Facility Coinsurance
- Medicare Part A Deductible
- Medicare Part B Copayments
- Medicare Part B Deductible
- Medicare Part B Excess Charges
- Foreign Travel Emergency Coverage (up to plan limits)
Medicare Supplement
Plan N Coverage Overview
What Medical Services Does Plan N Cover?
Medicare Supplement Plan N steps in where original Medicare leaves you a bit behind. While Medicare provides great coverage, it does have some gaps related to copayments, coinsurance, and deductibles. While Plan N is not as comprehensive as Plan G, it will take care of most issues you find yourself being concerned with.
As shown above the Plan N picks up all cost except for the Part B deductible, copayments, and excess charges.
Copays
You pay up to a $20 copay for each physician visit and a $50 copay for each emergency room visit that does not result in hospitalization. Plan N will cover the 20% coinsurance charged left behind by Original Medicare.
Deductible
The Part B deductible for 2022 is $233. You will be responsible for this amount in addition to any copays and excess charges.
Excess Charges
Plan N, does not pick up the cost of excess charges your doctor may want to charge. The excess charge is an additional fee that is equal to 15% charge above the Medicare approved amount.
For instance, if you end up in surgery and the anesthesiologist bill equals $8,500 they can add an additional fee of $1,275 that you would be responsible for.
Many Medicare Insurance Companies who offer Plan N Medicare Supplements, will include up to $50,000 in foreign travel emergency benefits.
Part A Deductible and Coinsurance Amounts for Calendar Years 2022
Plan A Cost Without Medicare Supplement Plan N
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Inpatient Hospital Deductible $1,556
-
Daily Coinsurance for 61st-90th Day $389
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Daily Coinsurance for Lifetime Reserve Days $778
-
Skilled Nursing Facility Coinsurance (Day 1-20) $0.00
-
Skilled Nursing Facility Coinsurance (Day 21-100) $194.50
-
Skilled Nursing Facility Coinsurance (Day 101 and beyond) All Cost
Part A Cost With Medicare Supplement Plan N
-
Inpatient Hospital Deductible $0.00
-
Daily Coinsurance for 61st-90th Day $0.00
-
Daily Coinsurance for Lifetime Reserve Days $0.00
-
Additional 365 Days in Hospital $0.00
-
Skilled Nursing Facility Coinsurance (Day 1-100) $0.00
-
Skilled Nursing Facility Coinsurance (Day 101 and beyond) All Cost
-
Excess Charges Additional 15% above Medicare accepted amount
Part B Deductible and Coinsurance Amounts for Calendar Years 2022
Plan B Cost Without Medicare Supplement Plan N
-
Annual Medicare Part B deductible $233
-
20% co-insurance total cost of your bill UNLIMITED
-
Excess Charges Additional 15% above Medicare accepted amount
Part B Cost With Medicare Supplement Plan N
-
Annual Medicare Part B deductible $233
-
20% co-insurance total cost of your bill $0.00
-
Excess Charges Additional 15% above Medicare accepted amount
Medigap Insurance Expert
When you are considering purchasing a Medigap plan that is best for you and your budget, we are here to help you identify which plan would work best for you.
The Plan N offers some attractive monthly premiums and coverage. When selecting a Medicare Supplement plan it is best to know how each plan works, so you can be prepared for any cost you will face once you need to use it.
Talk with one of our Medicare insurance agents and we will explain the difference and cost of each plan.
We look forward to hearing from you.
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