Heading into 2020’s cold and flu season, the United States passed 210,000 deaths from COVID-19. Senior citizens and disabled individuals are at highest risk for the disease, so it’s more important than ever to have a handle on your health insurance if you’re 65+ and/or disabled.
Many US citizens over 65 and people receiving Social Security Disability Insurance (SSDI) are eligible for Medicare, so you’re not without assistance. Yet, trying to navigate the maze of options and add-ons is frightening. Medigap Plan N is one of ten supplementary Medigap plans that give you coverage you don’t get with “Original” Medicare Parts A and B.
To clear up the confusion about what Medigap N is for, here are five benefits you should know.
1. Medigap Plan N Supplements Medicare Part A and B
As you may know, there are four main Medicare “Parts”: A, B, C, and D. Parts A and B are more-or-less automatic coverage for medical care. Parts C and D are private-sector additions, not unlike the nine Medigap Plans.
There’s no hiding that the system is a complicated, convoluted maze. For more general information and all the details on how Medicare and Medigap work, check out medicareonvideo.com. Now, read on for more about the benefits of Medigap N.
Medigap N pays for the Part A deductible, which was $1,408 in 2020. It also pays for Medicare Part B coinsurance. A change in Medicare law prevents Plan N from covering the Part B deductible—but there’s no other Medigap plan that does pay it.
Keep in mind that you still might have to pay a $20 copay at the doctor or a $50 charge at the emergency room. Plus, if your medical provider charges more than Medicare will pay, you could be responsible for “excess charges.”
Yet, excess charges are unavoidable with any Medicare and Medigap combination. Medicare Advantage might be something to explore for more help with excess charges. Keep in mind that you can’t have Medigap and Medicare Advantage at the same time.
2. Medigap N Helps in Life or Death Matters
We’ve all heard horror stories of people admitted to a United States hospital for life-threatening conditions, only to wake up to a ridiculous bill.
While Medicare exists in part to prevent those kinds of situations, there are still some strange holes in the coverage you get. For example, you might be surprised to learn that blood transfusions often aren’t covered by Original Medicare.
There’s a shortage of donated blood in the United States, meaning that hospitals sometimes have to buy blood for patients. In those cases, you have to pay under Parts A and B.
Medigap Plan N covers blood transfusion up to the first 3 pints in a calendar year. If you need additional blood after that, Original Medicare pays the cost.
It’s hard to predict whether you’ll ever need a blood transfusion in most cases. Yet, higher activity levels and certain health conditions make the procedure more likely. If you live a risky lifestyle, have a blood disorder or are prone to bleeding, Plan N is a good safety net.
3. Plan N Covers Hospice Care Incidentals
When you elect to receive hospice care in the last months of your life, the last thing you want to worry about is paying bills. If you receive hospice care, Plan N should be a serious consideration. Medicare does pay for a majority of hospice costs, but you could receive drugs or services that aren’t covered in full.
Plan N covers your prescription copays and coinsurance for many of these services. It makes receiving care during those difficult, emotional times a smoother process.
4. Stay Healthy Abroad With Medigap Plan N
One interesting benefit of Medigap Plan N is that it covers 80% of healthcare costs when you travel outside of the United States.
Retirement gives many individuals a chance to travel and have other experiences they were too busy for when they were working. Perhaps you have loved ones in another country or travel abroad for anything from business trips to religious pilgrimages. You might receive specialized care abroad or use your retirement years for recreational globe-trekking.
Whatever your reasons for traveling outside of the country, there’s no question that Plan N is a good buy for worldly folks. If you get sick or are injured abroad, Medigap N takes a lot of weight off your chest.
5. Medigap Plan N Is Easier on Your Wallet Than F and G
If you’ve been looking into Medigap Plans, you may have come across Plans F and G. If some of this list sounded familiar, that’s because Plan N does offer similar coverage to Medigap Plans F and G.
While it’s still a good idea to do a detailed comparison to find what Medigap Plan is right for you, you should know that Plan N has lower monthly premiums than those plans.
On top of that, Medigap Plan F is no longer available for most people.
In 2020, the federal government decided that plans that paid the Part B deductible encouraged people to seek more care than they need. By this logic, a covered deductible under Plan F or another Medigap Plan raised costs. Whether that’s true or not, you’re out of luck if you don’t already have Plan F.
If you do have Plan F right now, compare it to Plan N and the other Medigap Plans to see if you could be saving more. Otherwise, take a look at Plan N next to Plan G if you want benefits like these.
Live a Full and Informed Life With Great Articles
Knowing these benefits of Medigap Plan N, you can make an informed decision about what healthcare plan is right for you. To learn more about what you can do for your health, take a look around the site.
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