We have all probably heard of Medicare and Medicare Supplement Plans. You already know what they do and why they are important. However, many people just forget to tell you the details of each plan. Only telling you to make a choice isn’t enough. Properly presenting to you all the alternative is what matters most. Of all the Medicare Supplement Plans out there, one of the most beneficial is Medicare Supplement Plan N.
The reason it is accorded such an accolade is that of its low premiums while at the same time offering some reasonable benefits. When you have an Original Medicare Part B, then this is one of the best Medicare Supplement Plans for you. Its greatest advantage is the 100% coverage of all out of costs copayments for anything that falls under Medicare Part B.
Low Affordable Premiums
With the Medicare Supplement Plan N, you assured of paying some lower premium compared to other Medigap plans. This situation is achieved by the minimization of the copayments for office visits and emergency room visits. Generally, an office visit copayment goes up to around $20 while an ER visit gets a copayment of around $50. You don’t have to worry because if by any chance a visit to the emergency room results in an admission for inpatient care, then that visit will not require any copayments.
Other Benefits Enjoyed
These are not the only benefits that come with Medicare Supplement Plan N. if you are a beneficiary of Medicare Part A and usually require specialized nursing care, then Medigap Plan N comes in handy quite a lot. With an Original Medigap Part A, anyone that requires the services of a skilled nurse is covered 100% for all services rendered up to 20 of the first days.
Once you get to this point, you are then held responsible for all of your coinsurance. This usually goes from day 21 to day 100. This is quite costly and could leave you incurring up to $170 a day or even more depending on the services you are receiving. The situation only gets worse after you cross your 100-day milestone. Anything else after this is completely up to you. The insurance and coinsurance will be exhausted and all services become out of pocket. The best way around this is getting yourself a Medigap Plan N. This will take care of all your coinsurance costs starting from day 21. That is 100% coinsurance coverage as long as you need it.
Medicare Part A beneficiaries also slapped with a yearly deductible that costs them over $1300 yearly. This tends to strain the pocket, especially since most beneficiaries are retired with no constant source of income. Once you get yourself a Medigap Plan N, this cost is taken off for you. There are also people that save their traveling for their prime years. If you have yourself a Medigap Plan N, then all your emergency care is taken care of by the policy up to the limits of your coverage. This allows you to partake in foreign travel to your heart’s content.