Medigap Plan N
| Medigap Plan N Policy Coverage | |
|---|---|
| Basic Benefits |  |
| Part A Deductible | |
| Part B Deductible |  |
| Part B Excess | |
| Skilled Nursing Coinsurance | |
| Foreign Travel Emergency | |
| At Home Recovery | |
| Additional Preventative Care | |
Quick Introduction to Medigap Plans
Medigap is a private health insurance policy that is designed to cover medical costs not covered by standard Medicare programs. It covers many costs - such as copayments, coinsurance, and deductibles - that people would otherwise have to pay individually. There are fourteen different Medigap plans, ranging from A to N. Although any insurance company offering Medigap is required to offer Plan A, the availability of other plans will vary by insurance company and by state. These plans do not cover costs for long-term nursing, vision, dental care, hearing devices, or private nursing. This article will deal exclusively with Medigap Plan N, covering some of the benefits and other considerations.
Medigap's new Plan N Policies
Medigap plan N was introduced on June 1st, 2010 as part of the Medicare Improvements for Patients and Providers Act (MIPPA). All Medigap plans, Plan N included, provide a certain baseline level of coverage in addition to any special benefits it may offer. This basic coverage includes (but is not limited to) the following:
- Coinsurance for Medicare Part A as well as any costs that arise after hospital benefits run out
- Coinsurance for Medicare Part B (preventative services)
- Copayment/Coinsurance for Medicare Part B (non-preventative services)
- The first three pints of blood, if any is required for treatment
Coverage Details for Medigap Plan N
The most noteworthy benefits provided by this plan include the following:
- Coverage of Medicare Part B copayments (except for preventative services). The only Part B copayments not covered are doctor's office visits ($20) and emergency room trips ($50)
- Coverage of coinsurance and copays related to Medicare Part A hospice care
- Coverage of coinsurance for skilled nursing facilities
- Foreign Travel Emergency Coverage
Overall Analysis of Medigap Plan N
This plan can potentially reduce out-of-pocket costs for patients who are already accustomed to making copayments for clinic or emergency-room visits. Plan N premiums are typically about 75% of what would be required for more comprehensive Medigap plans, such as Plan F, which means that its total cost (including copays) can potentially end up being considerably lower than that of other plans.