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Medicare Plan N

Plan N is similar in benefits to both Plan C and Plan F. However, Plan N does not offer lower premiums by paying for any part of your Part A or Part B deductibles. Instead it bears the cost by utilizing co-pays. This co-pay structure, new to Medigap plans, is estimated to result in premiums that are about 30% lower than comparable plans. Medigap Plan N has all of the core benefits of Plan M, as well as the newly required hospice benefit for all Medigap plans

The Medigap Plan N became available after June 1, 2010. This health insurance offers many useful benefits. The plan provides co-insurance payments on hospitals costs for Medicare Part A, as well as a full year of payments once Medicare benefits have been exhausted. Medigap Plan N policies pay 100% on Part B co-insurance, though, doctor visits cost up to $20 and emergency room visits cost up to $50. The plan pays Medicare Part A hospice care co-insurance and co-payments, in addition to co-insurance for skilled nursing facilities. Deductibles under Medicare Part A are paid under this plan. The plan also covers foreign travel emergency treatment.

You should consider Plan N. This marks the first time that everyone, regardless of age or situation, is "Guaranteed Issue" into a Medigap plan. Plan N promises to be a great plan and is a fraction of the cost of other Medigap plans, in most situations.

Keep in mind that you need to have Medicare Parts A and B in order to purchase Medigap policies. You and your spouse must each purchase any Medigap policies you select. Medicare Part B and whichever additional Medigap policies you choose require the payment of additional premiums. Part D, the Medicare Prescription Drug Plan, offers the only coverage available for prescription medications.