For many senior citizens on a fixed income, most feel overwhelmed by all of the expenses they need to pay--most of which are increasing every year. Medicare Plan N is a Medicare Supplement health insurance policy that can help many people save money on annual healthcare costs. Medigap Plan N is a relatively new Medicare supplement plan that was introduced on June 1st, 2010 partly due to the Medicare Modernization Act.
About 1/3 of senior citizens on Medicare will go out and purchase individual Medicare Supplemental Insurance to supplement their Medicare coverage. The other 2/3 might receive employer retiree health coverage, or may not have any coverage at all. Medicare only covers about 80% of medical costs, making it extremely important to obtain some type of supplemental plan.
There are several Medicare Supplement Policies on the market today, and the Medigap Plan F is among the most popular supplementary coverage that is purchased. In the past, having a plan that was the "most comprehensive" also nicknamed the "Cadillac Plan" was nice to have. However the global economy has made finances difficult for many people. Plan F is generally the most expensive plan on the market today, and with seniors today looking for affordability, many times it no longer makes sense.
Medicare Supplement Plan N is a great plan that is starting to get major attention from senior citizens. Not only is Plan N one of lowest priced plans offered by several companies, it also has a moderate level of coverage--especially what you pay for it. It however is important for individuals to look at plans and assess individual needs. Although Plan N is great for some people, for others it might actually be more costly due to some of the out-of-pocket expenses that it requires.
Medigap Plan N will require policyholders to pay a $20 co-pay for every doctor office visit, and possibly a $50 co-pay for Emergency Room visits, although that would be waived if the patient was admitted to the hospital. If you are relatively healthy and feel that you can manage a $20 co-pay for doctor visits, Medicare Plan N can be a great way to save money on Medicare Supplemental Insurance.
If you would like to see if you can qualify for Medicare Supplemental Plan N or check your free rate quote through multiple companies, you can call us at (855) 419-3826, or fill out our quote request form today!
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