How Medicare Supplement Plan N Can Save You Money

How 2020 Medicare Supplement Plan N Can Save You Money


Have you been frustrated about all the additional health care costs you need to pay for? Medicare original will in most cases leave you adding to the bill out of your own pocket to be able to cover it. Depending on your health state and history, your expenses might have been very limited up until now and your pocket might not have been affected by this yet. However, one should always be prepared or at least try to prepare as much as possible for what the future might hold. Even if you are taking the best care of yourself and your health, there are many conditions we cannot prevent. Health emergencies are also known to be the most expensive ones and having to pay a part of this bill can even financially destroy you. Especially as we age, we are prone to needing some type of medical care more and more often. For those who are tired of worrying and want to get some type of stability, adding a health care supplement plan is a good way to go! Supplement plans are offered by private health insurances and are mostly payed monthly. The monthly premium rate depends on the company as well as the plan you choose. These plans can also be payed annually, however they are more expensive, because the insurance company prefers their members to pay month by month. There are 10 supplement plans available. These are: A, B, C, D, F, G, M, N, K and L. If you have been considering getting the Medicare Plan N, here is what you need to know:

What it covers

Medicare Plan N is a plan that has been standardized and covers the same benefits in every state of the US. Almost, all states that is, because three of 47 stats have their own supplement plan standardization. These states are: Wisconsin, Massachusetts and Minnesota. The cost for the premium rate can vary between health insurance companies, as these are allowed to set their prices freely. Medicare plan N in the 47 states, contains the following benefits:

  • Coverage of part A hospital coinsurance expenses and other hospital costs
  • Coverage of part A copayments or coinsurance hospice care
  • Coverage of part A deductible expenses
  • Coverage of part B costs for coinsurance
  • Coverage of costs for the first three pints of blood
  • Coverage of costs for nursing facility coinsurance

What it doesn´t cover

Medicare Plan N does not cover for the Medicare part B deductible, which is 183$ annually and any part B excess charges. Excess charges are costs, that your provider might charge you for a particular procedure, that is above the Medicare limit. Medicare sets a limit for procedures, which most health providers accept to and promise to not charge over this limit. This is what´s other known as Medicare assignment. In fact, up to 90% of doctors are part of Medicare assignment. Therefore, by visiting these health care procedures, you can make sure to avoid these additional excess charges.