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Medicare Supplement Plan N 2019

With the right insurance plan, you can drastically cut your healthcare costs and have peace of mind about being covered for unexpected medical expenses. We want to show you how Medicare Supplement Plan G for 2019 may be able to do that for you.

Plan N is not necessarily the best plan or you, as we cannot say what would be, since we don’t know what your medical status is or what your financial situation is like. We are only focusing on Plan N here because it is an economical coverage plan. It has the potential to save you a lot of money, but there may be a better choice for you. That’s something you will have to find out for yourself. We simply want to give you the tools and information to make an informed decision or yourself.

 

 

What Plan N Has to Offer

If you go with Supplement Plan N, then you receive powerful coverage that leaves little for you to pay in healthcare expenses. How much you have left to pay after Plan N provides it coverage will depend on your medical conditions and healthcare expenses. However, you should know that Plan N will only provide you with coverage if you have the original Medicare coverage plan. You have to have that original plan for the Supplement plan to operate the way it is supposed to.

Plan N is going to cover you for many things that Medicare’s Original plan does not. In fact, Supplement plans are known as Medigap plan because of their ability to fill on coverage gaps. One of the biggest gaps that Plan N fills for you is the Medicare Part A deductible. This can cost upwards of $1,300, and it is something that you would have to pay once a year for as long as you have Medicare.

Plan N won’t cover the Part B deductible, but it does cover the Part B copayment and the Part A copayment. Those expenses are something you would have to pay each and every time you go to the hospital and receive Part A or Part B services.

Under Plan N, you can also be covered for the cost of skilled nursing care coinsurance. That’s something that you pay for each instance of receiving nursing services.

The blood you use each year not already covered under the basic Medicare plan can be covered by Supplement Plan G as well. It covers you for as much as three pints of blood every year.

The final bit of coverage this plan provides is for foreign emergency medical transport, known as foreign travel exchange. It covers you for the cost of being transported to a medical facility in an emergency situation, where the facility is outside the US borders and it is your only or best option or treatment. You get covered up to 80% for the cost of each incident, and you will need to pay the deductible for this, but it is still some powerful coverage.

Extensive coverage provided by Plan N makes it an attractive option for many seniors, especially since it is priced more economically than Plan F or Plan G.

 

medicare supplement plans 2019

 

 

Comparing Plan N

We want to look at both of those Supplement plans quickly and show you how they compare to Plan N. Together with Plan N, they are the most popular Supplement plans Medicare has created, and many seniors choose them over all the other choices each and ever year, so it is worth looking at what they have to offer and how they compare to one another.

Plan F is what is known as a full coverage Supplement plan. It is designed to include cover for all the supplemental medical expenses there are. That means it covers all the stuff that Medicare Supplement Plan N in 2019 covers and more. The additional coverage is for some copayments that Plan N would leave you to pay, for the Part B excess charges and for the Part B deductible. You may or may not need all those things covered, but you need to consider if it might be cheaper to pay them out of your own pockets than to sign up for Plan F and its powerful coverage.

Plan G is another plan worth looking at, and it is considered by many to be the most economical of all the Supplement plans. Of course, how much money it can save you depends entirely on what you need to have covered and what the plan costs you. Plan G takes all the coverage of Plan N and ups it just a little bit. It covers you for the Medicare Part B excess charges and for some small copayments that Plan N would have you pay.

These three plans are all considered to be high coverage plans, meaning that they cover a lot of medical expenses, especially when compared to the remaining plans. They are more expensive than the other options, of course, but also more popular. Seniors simply love that they can pick a coverage plan that can take care of most of their medical expenses for them and not have to worry about how much they have to pay out of pocket.

You should compare them closely, especially looking at the price differences among the plans. Once you do that, you can determine which one, if any of these, will be the right choice for you.

How to Use Plan N

If you have decided that you need Medicare Supplement Plan N, then you need to know how it is going to work with other medical insurance plans. You should already know that you need Medicare’s basic plan in order for Plan N to function. The plans work together very well, with Plan N covering a lot the stuff that basic Medicare does not.

Plan N also works with Medicare Part D if you have it. That plan covers you for a lot of prescription drug costs, and it can be helpful to have that coverage to work alongside these other plans.

However, if you have or plan to get Medicare Part C or just about any employer medical insurance plan, then Plan N won’t work with them. It will not be compatible because of the overlap between the plans, and you will be forced to drop one of them.

Once you sign up for Plan N, then you are locked into its contract, which is usually for just one year. However, during that year, you cannot change coverage. That’s why it is important that you carefully select your plan. You want to choose one that will work well for you for the duration of the upcoming year.

We wanted to focus on Plan N because of its ability to save you money and work well with other coverage plans. You may or may not need this kind of high coverage plan, though, and you should take time to look at your personal situation to determine what kind of coverage you need and what price point you can afford. You want to choose something that costs less each month and each year than you currently pay out for medical care.

Medicare Supplement Plan N for 2019 has the potential to do that for you, but you need to ensure that it is right for you. Just because it is a popular plan or because it is something a lot of people recommend, that doesn’t make it a suitable plan for you. You’ll have to take time to look at your needs and compare how Plan N provides for you. Once you do that, you should have a good idea if you want to go with Plan N or something else entirely.

 

When Can You Enroll In Medicare Supplement Insurance?

Medicare Supplement Insurance, or Medigap Insurance, is a type of insurance you can buy from some private medical insurance agencies to help pay for medical treatment that is not covered by your regular Medicare plan. Medigap is available for seniors’ age sixty- five years or older who are enrolled in both Medicare Part A and Medicare Part B.

Open Enrollment Period

Open enrollment is a six month period of time that starts the same month you turn 65 and will allow you to enroll in a plan with a private insurance agency whether you already have existing medical problems or not. After which, enrollment will no longer be guaranteed. It is always best to sign up for this insurance during the first six months that you are 65 years of age. The period begins from the effective date of Medicare Part B, therefore if you are still working and opt-out of Part B initially upon turning 65 due to having employer coverage, you will still benefit from this six month period when you do decide to enroll in Part B.

This initial enrollment period is only one time. Therefore if you do have pre-existing medical conditions it is extremely important that you research all of your Medigap options at this time. Working with an experienced, independent agent will save you a great deal of time.

What is a Guaranteed Issue Right?

A Guaranteed Issue Right will guarantee that you can get a policy if one of the following things happens:

  • You are coming off of your employer’s Insurance coverage
  • If Medicare is your primary Insurance provider
  • If you are going to lose your Medicaid coverage
  • If you have already lost your Medicaid Coverage OR
  • If you are moving out of a Medicare Advantage Program area

Sometimes you will be able to able to apply and be accepted for one of these plans throughout the year without being required to have a Guaranteed Issue Right or during your Open Enrollment time period. Trying to get coverage outside of your Open Enrollment time or when you do not have a Guaranteed Issue right might prove to be fairly difficult if you already have a pre- existing medical problem.

That being said, all insurance carriers each have different underwriting guidelines. So while you might be declined with one particular company due to a pre-existing health condition, another company might consider you. There might be an additional charge depending on the company, so be sure to contact us and we can easily see who you might qualify for.

Changing Medicare Supplement Insurance Plans

Anyone already on an existing Medigap plan may apply for a different plan or carrier at any time throughout the year. These policies are month-to-month and are not bound by any enrollment period when it comes to changing policies. Therefore if you do get a rate increase and would like to switch you can simply apply at any time with another carrier, however you will have to go through medical underwriting.

This helps out a great number of people in terms of saving money, as if you have been with a carrier for more than 2-3 years it’s highly likely that there could be a better rate with a different company for the exact same coverage.

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