Seniors were given an early Christmas present on June 1st, 201. Congress put effect new Medicare Supplement plans. One of the newest one is Medigap Plan N. The opportunity to reduce your monthly health care premiums is a reality with Medigap Plan N. Insurance industry expects are excited about the new plans as seniors will be attracted by the lower monthly premiums. If your budget is stretched to the limit, Plan N may give you some relief without giving up your benefits.
This Medicare Supplement plan is attractive for those who are comfortable paying a small Doctor co-payment and or occasional Emergency Room co-payment visit. The office co-pay is $20 per visit while a visit to the ER will cost you $50 in copayment. The Medigap Plan N is similar to the current Plan D cost sharing. It covers your doctor visit, hospital, labs, speech, diagnostic procedures and slew of others. If the medical services are approved Medicare services, then Plan N covers them.
If reducing your monthly premiums and being able to handle the small copayments, then Medigap Plan N is for you. They estimate that Plan N will cost approximately 70% less than Plan F and approximately 77% less than Plan D. These are considerable savings especially when you are on a fixed income. What is the downsize of Plan N? The $155 deductible for Medicare Part B must be paid first before any of the benefits of Plan N kicks in. However, once the deductible has been satisfied, all other approved Medicare services are covered under the plan. One should review their current status before making the change, but seriously review this Plan to see if it meets your needs.