There are several choices for high coverage Medicare supplement plans. For many people, the best choice is Medicare Supplement Plan N 2018. That’s because it is the least expensive of the higher coverage plans and it offers incredible value, thanks to all the medical expenses it covers.
Other high coverage plans include Plan F and Plan G. These are often more popular than Plan N, but that doesn’t make them the right choice for you. You must choose the plant that fits your situation best- one that you can afford and that meets your coverage needs for the present and near future.
Why You Should Consider Plan N
Not everyone will benefit from choosing Plan N as their medical coverage plan. For many, a higher or lower coverage plan will be a better option, but there are several people who will enjoy the most savings and most appropriate coverage available with this plan.
These are people who have a lot of medical expenses and who go to the hospital often. They are also paying a lot of money out of pocket, if they only have Medicare covering them. They need the robust coverage that this plan offers.
At the same time, they may not be able to afford Plan N or Plan F. These plans both offer more coverage than Plan N, but they cost more as well, and for many people, that makes them unaffordable.
Plan N is often priced very competitively, as it is offered as an attractive alternative to plans F and G. That price is going to change depending on where it is purchased. The prices change every year or so as well, so consumers need to be aware of those changes as they look for the best rates on Plan N.
Plan N is a good coverage plan if you have looked at the other plans that are like it and found that they don’t do enough for you, they are too expensive or they are excessive in their coverage. It’s still a high coverage plan, but it’s not so expensive that it’s unaffordable for most people.
How to Save Money on Plan N
Plan N is the most affordable of the three-high coverage plans- N, G and F. At the same time, you could end up paying far more than the average cost, if you are not careful. That’s because Medicare does not regulate the prices for Plan N or any of its supplemental plans. Medicare doesn’t sell the plans and only regulates what they can cover and which plans must be offered by insurance companies as a bare minimum.
So, the price can basically be whatever the insurance companies want it to be. If they want to go much higher or lower than the national average, then they can do that, and consumers need to be aware of the price differences.
They can find the same Medicare Supplement Plan N for 2018 at a different price in one place than they would in another. Prices vary from one location to another and from one company to the next. Each company has their own rates, and those are based on the cost of living in the area as well as the kind of competition they face from other insurance companies nearby.
These costs can change, and the companies will change their prices (usually to increase them) every year or so. If you are not ready to sign up for Plan N or some other supplemental plan, then you need to know what the prices are and keep up with them until you are already to buy. This allows you to choose the lowest possible price and know what the average rate is. Keeping up with the rates lets you know if you are getting a good deal or not. How else will you be able to tell if the quote you are getting from an insurance company is a decent one? You must source multiple quotes to get a picture of what the average rate is.
It is to your benefit to source as many quotes as you can. You can contact insurance companies directly for Plan N quotes or just use a price comparison site and have most of the work done for you. Either way, be sure you compare some rate before you settle on an insurance company for the plan you want.
Plan N’s Benefits
Let’s look at Plan N’s coverage now. This plan is going to take care of lots of different medical expenses for you. Some of them you may need to have covered, while others may be just bonus coverage. You need to know what this plan offers so you know if it is a good option for you. You don’t want to pay for a bunch of coverage you don’t need, and you want to be sure that your most expensive or most common medical expenses are being covered.
Under Plan N, you can enjoy coverage for all the copayments for Medicare parts A and B. That doesn’t include the small copayments you will need to pay for a visit to the emergency room ($50) or to the doctor’s office ($20).
You will also be covered for the Medicare Part A deductible and the supplemental hospital expenses coverage, which is for 365 additional days beyond what you get from Medicare’s standard coverage plan.
In addition, you would be covered for nursing care coinsurance, for some blood (renewed annually) and for foreign travel exchange (up to the maximum allowed coverage of 80% for each incident).
All of that adds up to quite a coverage package. There are a few supplemental expenses that Medicare Supplement Plan N for 2018 won’t cover for you, but if you really need those covered, you can always turn to Plan G or Plan F. Just take your time to pick out the most suitable plan for your healthcare needs.