Medicare Supplement Plan N Basics

How to Explain Medicare Supplement Plan N to Your Clients

On our last video, we talked about how you can explain Medicare supplement plans F and G simply to your clients. Today, we’re going to talk about Medicare supplement plan N and how you can explain it simply to your clients. Medicare supplement plan N is similar to plan F and plan G in that it has the same coverage for Medicare Part A. So, your client doesn’t pay any hospital costs. They don’t pay the per benefit deductible period for hospital stays or any other hospital costs. The difference with plan N is the coverage for Medicare part B.

Similar to Plan F and G, with a Part B Difference

Under Medicare Part B, and Medicare supplement N, your client would pay the $183 annual deductible. They also could be responsible for up to a $20 copay for doctor visits and up to $50 for an E.R. visit. Take note, when your client is looking for doctors on Medicare.gov, or you show them how to look it up, refer them to doctors that “accept assignment.” What that means is, the doctor agrees to take Medicare’s approved amount as payment in full, so you don’t have to pay any excess charges. If there are any excess charges, your client would normally have to pay them under Plan N. So, you really want to get them to get a doctor who accepts assignment.

An agent should know that this plan really is a great value for the consumer. You should know how it works, and it’s really pretty simple. You do have to put a little bit of thought into how it works, but it is simple. Medicare supplement Plan N is identical to plan F and G under Medicare Part A. Plan F, G, and N pay exactly the same in how they pay for the part A expenses. Where they’re different is coverage under Medicare Part B. With a plan N, the client pays the part B annual deductible and is responsible for up to $20 for a doctor visit copay, and up to $50 for an E.R. visit. It’s worth noting that if the client spends the night at the hospital, they don’t have to pay the $50.

Doctors that Accept Assignment

Another important point to understand is the excess charges. If a doctor takes assignment, which almost all doctors do today, then the doctor agrees to accept Medicare’s approved charges as payment in full. So, how do you know if a doctor accepts assignment when you are on Medicare.gov – the official US website for Medicare? You can go on there to look up your doctor, or anybody’s doctor to see if they accept assignment. That is a key thing to note and most doctors do accept assignment. Plan N is a great value. We see lots of plan N applications written so it is big seller and a great value to your clients. I hope that helps and we’ll see you all next time.