Medicare Supplements, also known as Medigap, help cover the gaps in Original Medicare. However, many Medicare beneficiaries find it difficult to decide which Medigap plan is right for them and if you are unsure of which Medicare Supplement plan to select for yourself, just know that you are not alone. Fortunately, Medigap Plan G and Plan N are two of the top Medigap options with comprehensive coverage.
However, there are a couple of things you need to consider when choosing between these plans. In this post, we’ll explain the similarities and differences between Medicare Supplement Plans G and N so that you can make an informed decision about which plan would meet your needs best.
Similarities Between Medicare Supplement Plan G and Plan N
There are many similarities between Medigap Plan G and Plan N, especially with the coverage they provide:
- Medicare Part A hospital costs and coinsurance
- Medicare Part A deductible
- Medicare Part B coinsurance
- First 3 pints of blood
- Medicare Part A hospice care copayment or coinsurance
- Skilled nursing facility coinsurance
- Foreign travel emergency
The one benefit that both Medicare Supplement Plan G and Plan N don’t cover is the Part B Deductible. The Part B deductible is only covered by Plans C and F, but these plans are no longer available to those who became eligible for Medicare after January 1, 2020. For individuals looking for other comprehensive options besides C and F, Plans G and N fit the bill.
Differences Between Medicare Supplement Plan G and Plan N
When it comes to Medigap Plan N, the plan member will be responsible for all of the copays. You can be responsible for about a $20 copay for certain office visits and $50 for certain emergency room visits. However, the $50 copay will be waived if you are admitted as an inpatient.
Plan N also does not cover Part B Excess Charges, like Plan G does. These are additional costs that some healthcare providers charge. Most providers that accept Medicare also accept something called “Medicare assignment.” Medicare assignment is the cost that Medicare says they are responsible for paying for a given service. So, if you are required to pay more by your health provider, they can bill you for the excess charges. Keep in mind that the excess charges can only be an additional 15 percent of the original cost.
Which Plan Is Best for You?
After comparing Medicare Supplement Plan G and Plan N, you will discover that while these plans do have their differences, they are also very similar in coverage. This can make the decision-making process a bit more challenging. At MedSup for Seniors, our experienced Medicare experts can help you choose the Medicare Supplement that is best for you. Contact us today to speak with an insurance agent to determine which plan may be more beneficial to you.