When selecting insurance, it’s smart to balance potential coverage needs with the cost of premiums. Even though Medigap plan benefits are standardized, premiums are not. You’ll need to compare what different companies charge for the same coverage and weigh other factors like customer service and financial stability to find the best value.
You may find the best value by purchasing a plan that does not cover all of the gaps in Medicare coverage, especially for benefits you will not use or that have low out-of-pocket risk. That’s why you might want to consider Plan N, one of two Medigap letter plans introduced in 2010.
You can get a quick look at what all the standard Medigap plans offer with our Medigap Plan Benefits Grid. Plan F is the plan with the most comprehensive coverage and, therefore, often the highest premiums. There are three benefits that Plan F covers that Plan N does not cover or does not cover fully.
Part B excess charge. Plan N does not pay the difference between Medicare’s standard payment for doctor services and what a doctor may charge you. Plan F does make up that difference, if there is any. If your doctor agrees to accept Medicare’s standard payment, you would not need that benefit.
Plan N doesn’t cover Medicare’s annual Part B deductible and Plan F does. That deductible is relatively low ($147 in 2014), and it’s predictable. You must meet it once a year if you need doctor services that are not 100 percent covered as recommended preventive care. If you only use doctor services that are billed as preventive (i.e., not diagnostic or treatment), the deductible does not apply.
The other difference between the benefits of Plan F and Plan N lies in copayments for outpatient services. Plan N charges you a copayment of up to $20 for a doctor’s appointment that is not 100 percent covered as recommended preventive care. Plan N also has a $50 copay charge if you go to the emergency room and are not admitted as an inpatient by a doctor.
Our instant quotes show you leading insurance companies that sell Plan N, as well as the other nine Medigap plans, in your state. Again, Plan N offers the same benefits regardless of which insurance company you select to provide it.
Those quotes also give you the option of requesting an application. To help the process move more quickly, we can email the application and you can fax it to our toll-free number at 1-800-913-3416.
We’re here to answer questions about Plan N and the application process so you can be sure you’ve completed it correctly. And keep in mind that you’ll continue to have direct access to your own Personal Benefits Consultant, a licensed insurance agent, after your coverage takes effect, as well.
If you’d like a professional opinion on how different Medigap plan benefits might fit your needs, please call 1-800-913-3416 to request your confidential and comprehensive free consultation.
If you fax in your application, you’ll need to pay the first month’s premium with a bank draft. You may also pay the first month’s premium with a check if you prefer to mail your application. Please mail the payment and the original application to us at:
Application Processing Department
1281 E. Magnolia St. , Unit D #233
Fort Collins, CO 80524
Your Medicare Supplement Insurance Specialists!
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Disclaimer: Medigap Advisors is not connected with or endorsed by the U.S. Government or the federal Medicare program. Medicare has neither reviewed nor endorsed the information contained on this website. This is not a complete listing of plans available in your service area. For a complete listing please contact 1-800-MEDICARE or consult www.medicare.gov (TTY users should call 1-877-486-2048), 24 hours a day/7 days a week.