Medicare is a wonderful resource for those who qualify – generally people age 65 and over. It is a form of medical insurance and can certainly help offset medical costs as a person ages. It can be quite confusing to understand though, as there are a number of different plans designed to help people in different situations. Medicare Supplement Plan N is one of the plans available to medicare recipients that should be considered.
Medicare Supplement Plan N covers doctor co-pays, hospital stay co-pays, and extends hospital coverage. Generally with this plan, there is a $20 doctor co-pay, and a $50 hospital co-pay. The deductible for Plan N is $155, which you have to pay before any other costs can be covered. Plan N is notable because it does not use medical underwriting. What this means is you do not need to have a physical or answer questions about your health to qualify. If your insurance company offers Plan N, you will likely be accepted regardless of your health.
This plan is a good choice for people you would have trouble qualifying for other insurance plans or medicare supplements because of poor health or chronic conditions. Because you not need to have a physical, you will not need to deal with potential rejection or the bureaucracy of pre-existing conditions. If you can afford the $155 deductible and the co-pays this may be a good option. You should sit down with a calculator to determine how much this will cost you over a year and see if it fits in your budget. You may also want to discuss this with your health care provider, as they often understand the system better and will know what option is best for your individual situation.