One of the best things about Medicare is that it automatically kicks in supplemental insurance to help offset the gaps in your primary coverage if you happen to fall on a large insurance coverage gap. Medicare Supplement Plan N is the most common one out there and the one that many seniors choose. Plan N covers things such as Medicare Part A, which pays for hospital visits and for medicines, and Medicare Part B, which covers medicines and other items for outpatient medical care. Medicare Supplement Plan N may cover you for all three if you pay an excess for it or choose to pay a higher premium. If you pay more than you need to, Medicare Supplement Plan N could end up costing you more than you want to spend, so be sure to know what is covered before you apply. Click here to find out more info.
Does It Cover What You Need?
Medicare Supplement Plan N costs more because it covers more. For example, Medicare Part A is guaranteed by the government, so it always has full coverage. On the other hand, Medicare Supplement Plan N requires that you pay a portion of your Medicare costs out-of-pocked, so you have to budget accordingly. Medicare Supplement Plan N also covers items not covered by Medicare Part A or Part B, and therefore does not carry the same guarantee that Medicare does. For example, it does not cover the regular office visits you would receive in a private doctor’s office, but can also cover other items such as spaying or neutering, annual exams, dental care, vision care, home health care, hospice care, mental health, and hearing aids.
In order to know how much Medicare part A will cost and how much Medicare part B will cost, you need to know the difference between the two different portions of your coverage. If you have Medicare Parts A and B, then you are guaranteed coverage. You have to make sure to read all of the fine print and understand all of the restrictions when taking out either or both of these plans. If you are already on Medicare, it’s best to get a supplemental policy so you both have the right amount of coverage. If you are still nursing and are still working, there are policies that will allow you to choose both plans, one for Medicare part A and one for Medicare part b. It’s important to remember to get a copy of your current prescription medications and current photos before starting any new supplemental policy.