Medigap Plan N Supplement Insurance

Medigap Plan N is supplemental insurance sold by private insurers. It helps you cover certain deductibles, coinsurance and copayments not covered by Original Medicare — Medicare Part A and Part B.

Medigap Plan N is one of the more comprehensive Medicare Supplement plans available, but there are some out-of-pocket costs that it does not cover.

Most routine dental, vision and hearing services are excluded from coverage under Plan N. If you want coverage for these, you should consider a Medicare Advantage plan or a standalone dental and/or vision plan. 

Medigap Plan N and other Medicare Supplement plans also do not cover prescription drug costs. But you can buy a standalone Medicare Part D prescription drug plan from a private insurer to help with these costs if you want to keep Original Medicare. Most Medicare Advantage plans incorporate prescription drug coverage in their plans, so — in most cases — you will not need to purchase a standalone Part D plan.

Medigap Plan N is one of eight standardized Medicare Supplement plans sold by private insurers and currently available to people newly eligible for Medicare. There are two other Medigap plans — Plan C and Plan F — that are no longer available to new Medicare enrollees (those who became eligible for Medicare on or after January 1, 2020) but those already enrolled in these plans can keep them or have the option to purchase these plan with another carrier. 

Medigap Plan N is sold by private insurers, and several factors contribute to how much an insurer charges for monthly premiums.

Basic coverage and benefits for Medigap Plan N are standardized in most states — with the exception of Massachusetts, Minnesota and Wisconsin, which have their own standardized Medigap plans.

You will need to consider these costs when selecting a Medigap policy that best fits your health care and financial needs.

When selecting a Medigap policy, be aware of how insurance companies set their monthly premium rates. Rate-setting methods vary by company and can affect premiums as you age.

Insurers can still raise your premiums for factors other than age — such as inflation. Carefully consider all your potential costs over the course of your lifetime before deciding on a Medigap plan.

Medigap Plan N is similar to both Medigap Plan G and Plan D. But it does not have all the benefits of the other two plans. However, you may find that Plan N is more affordable and may be a better choice for you when you compare each plan’s benefits and consider the amount of coverage you need.

Medigap Plan N is less expensive than some other plans, and if you don’t visit your doctor very often or seldom need other medical services, the copayments and coinsurance charged for certain services under Plan N may be negligible when compared with the higher premiums of other Medicare Supplement plans.

Plan N may also save you money if you live in one of the eight states that do not allow excess charges.

Talking with a professional financial advisor or Medigap expert can help you understand the full cost of any Medicare Supplement plan.