Are you considering a Medicare Supplement Plan G or Plan N, but
you're not really sure which one will give you the best value? Well, stay tuned because
I'm going to show you some key benefits that'll help you decide which plan will work best for you. Hi, I'm Shauneen Sullivan,
founder of USA Medicare Plan, where we help people on Medicare find low cost options
for Medicare Supplement and Prescription Drug coverage. Today, I'm going to highlight the benefits of Medicare Supplement Plan G vs.
Medicare Supplement Plan N Plan G and Plan N are
two of the most popular Medicare Supplement or Medigap Plans. Plan G is the most
comprehensive of the two plans, but Plan N offers a very good value for a lower monthly premium, both Plan G and Plan N
offer the same coverage for Medicare Parts A and B
deductibles and coinsurance. Also Skilled Nursing
and rehab facility stays Hospice Care and Foreign
Travel Emergency coverage. Neither plan covers the
Medicare Part B deductible. This is an annual deductible that you're responsible to pay each year. This deductible resets every January, and it can change from year to year.
With Plan G, once you've met this deductible during the year, your medical costs will be covered 100% for the remainder of the year. with Plan N, once you've met the Part B deductible during the year, you could have up to a $20 co-pay for Primary or Specialist office visits. Telehealth visits, where
you consult with a doctor over the phone are not
considered office visits. So there's no co-pay for this service. Another co-pay you could have is if you go to the Emergency Room, then you'll have up to a $50 co-pay. But if you're admitted as an
inpatient to the hospital, the co-pay is waived. One other benefit that
Plan N doesn't cover is Part B Excess Charges. This is an amount up to 15% that a healthcare provider
can charge in addition to the amount of what Medicare
approves for services.
Doctors that accept Medicare Assignment or Medicare as payment in full are called Participating Providers. They're not allowed to
bill for Excess Charges, so you won't have to worry about any balanced billing with Plan N as long as you see doctors and providers that accept
Medicare Assignment, you can find out if a doctor
accepts Medicare Assignment, by going to the physician finder tool on the Medicare website. In some States by Law,
Excess Charges aren't allowed this Law is called the Medicare Overcharge
Measure or MOM Law. So if you live or travel
to any of those States, you won't have Excess Charge
billing in those States.
Most doctors and providers today accept Medicare and Medicare Assignment. So balanced billing is rare, but you should still make sure your doctors are fully Participating in Medicare before seeing them. If you see the doctor
once or more per month, then in this situation,
the co-pays can add up and you'll be better off getting a Plan G. If you're healthy now but worried about paying lots of co-pays if your health changes down the road, then Plan G may give
you more peace of mind. So Plan N with lower monthly premiums than Plan G can provide more savings if you don't go to the doctor a lot. All Medicare Supplement Insurance plans are Standardized by the government. This means that the plan benefits are exactly the same
from company to company. The only difference is the price. A Plan G or Plan N with one company has the exact same benefits as Plan G or Plan N with another company. But you might pay more. It's important for you to know that it's not always best
to go with the lowest rate, as some companies have higher
rate increases than others.
We use specialized software
that allows us to see the market data history of
all the companies in the area. So get in touch with us if you want help with this. I hope this video has
helped you understand the benefits of Plan G and Plan N, so you can decide if one of these plans might be the best choice
for your Supplement. If you have any questions please call or email us. Our service is 100% free, and we're happy to help you. If you like this video,
please give it a thumbs up and be sure to watch our other videos where we go into more
detail on each of the plans..
Leave a Reply