Medicare Supplement Plan N: Still Good In 2024?
Understanding Medicare Supplement Plan N
Medicare supplement Plan N is one of the most popular and comprehensive plans available. How does it compare to other Medicare plans?
This article provides all the information you need to know about Medicare supplement Plan N.
To compare quotes from over 15 different Medicare Plan N providers, fill out our quote form. If you’re on mobile, select “Get Quote”.
Table Of Contents
- What Does Plan N Cover?
- Plan N Monthly Premium
- Plan N & Prescriptions
- Is Plan N Worth It?
- Can I Switch Medicare Supplement Plans?
- Plan N Pros & Cons
What Does Plan N Cover?
Medicare Plan N offers a more affordable option compared to the most comprehensive plans like Plan F and Plan G. It covers:
- Part A coinsurance and hospital costs
- Part B coinsurance
- Hospice care
- Skilled nursing facility care
- Part A deductible
Plan N does not cover the Part B deductible (doctor’s office visits) and Part B excess charges (when a doctor charges more than Medicare’s approved amount). With Plan N, you’ll avoid hospital costs but will need to pay the doctor’s deductible. While it’s more affordable than Plan G, it’s also less comprehensive.
Plan N Monthly Premium
Monthly premiums for Plan N vary by location. Here are average rates for Plan N, which you can find using our quote form:
| Age | Male | Female |
|---|---|---|
| 65 | $80 | $70 |
| 70 | $88 | $77 |
| 75 | $103 | $90 |
| 80 | $132 | $115 |
| 85 | $165 | $145 |
For a 65-year-old male, the average premium is $80 per month. For a 65-year-old female, it’s $70 per month.
Medicare Plan N & Prescriptions
Medicare Plan N does not cover prescription drugs. No Medicare supplement plans do. You will need a separate Medicare prescription drug plan, which can be very affordable, often under $20 per month.
Is Medicare Plan N Worth It?
Plan N is ideal for those who prefer a lower monthly premium compared to Plan G. Although it is less comprehensive, it provides significant coverage. The main difference is that Plan N does not cover Part B excess charges, which can vary depending on the doctor or specialist.
Can I Switch Medicare Supplement Plans Later?
You can switch from Medicare Plan N to another Medicare supplement plan at any time. There is no specific enrollment period for Medicare supplements. However, after you turn 65, you may be subject to medical underwriting, meaning your health conditions could affect your ability to switch plans. It’s important to consider your health condition before deciding to switch.
Medicare Plan N Pros & Cons
Pros:
- Covers most remaining medical expenses not covered by Medicare.
- Covers all hospital expenses.
- More affordable than Plan G.
Cons:
- Does not cover all expenses.
- Subject to excess charges from doctors or specialists.
Summary
Medicare Plan N is a popular and affordable choice for those looking to supplement their Medicare coverage. It offers significant coverage at a lower monthly cost compared to Plan G. If keeping your monthly payment low is a priority, Plan N is a great option.
Not sure which plan to choose? Chat with us or fill out our quote form, and we will help you find the best rate and product from over 15 different Medicare insurance companies. We look forward to assisting you!
FAQs
Is Plan N guaranteed issue? Plan N is guaranteed issue during the first few months before and after you turn 65. After that, medical underwriting will apply, which is true for all Medicare supplement plans.
No. No Medicare supplement plan covers dental, vision, or hearing costs. You can buy those plans separately or enroll in a Medicare Advantage plan that has those plans built-in.
