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Medicare Supplemental Insurance Plan N Overview

The "Power" of Plan N

One of the newer options on the Medicare Supplement benefit chart is plan N. Added in June of 2010 as part of the Modernization Act, the plan has had little traction…which is weird, because it may be one of the clear winners when examining the numbers.

As consumers have become more accustomed to co-pay style plans, which they were used to with their pre-Medicare insurance, the transition onto a plan N should be easier.

Here's the deal:

The deductible and daily costs from Part "A" of Medicare, the hospital portion, is covered entirely by the supplemental plan. The doctor portion, Part "B" charges an annual deductible of $140, which plan N does not cover. But once that deductible is met, the client is only responsible for $20 co-pays for each office visit that is non-preventive. A $50 co-pay is required for emergency room visits….but only if they do not require admittance.

Plan "N" costs significantly less than the uber-popular plan "F", plain and simple. And for those folks who only see the doctor on occasion, even after the Part B deductible and several office visit co-pays many people save a bundle. We've seen figure that suggest it would take thirty or more office visits to spend as much as the typical plan "F". For some examples, see our online Medicare Supplemental Insurance Videos.

And one last thing...never forget the influence of agent commissions on a recommendation. Because nearly every carrier pays the agent a percentage of the annual premium charged to the client, selling a much lower cost option presents a sizeable pay cut for the average agent.