Like the other nine Medicare supplement plans, Plan N is also a privately administer type of Medicare supplement insurance meant to help you pay for specific out-of- pocket expenses for the health care that Medicare does not cover. Plan N also covers additional things such as Medicare Part A coinsurance, a set amount that you have to pay out-of-pocked for doctor visits and for medical care, and an annual outlay for hospital care. For most people, Medicare does not cover everything that it was intended to cover; in fact, about one-third of all prescriptions sold are not covered through Medicare Part A. Click here to find out more info on medicare supplement plan n.
All About a Medicare Supplement Plan
The plan was created by a private company called Medicare Reimbursement Solutions, better known as the MRRS. They designed the plan to cover roughly half of all prescriptions sold in medicare Part A. This means that if you buy Plan N, you can usually get the same level of coverage as if you were buying Plan A. However, there are a few differences between the two plans. For example, Plan N requires that you pay more copays (dental care) than Plan A.
One of the biggest differences in both plans is that Plan N has a lower deductible than its sister plans. As a result, Plan N has a higher monthly premium, but it provides more coverage in the event that you need it. For most people, the choice between a higher deductible and more coverage is the more affordable choice. In order to determine what your “net out of pocket” or “net payment amount” would be with each type of plan, you need to multiply your current medications by the highest deductible you can pay, times the total cost for every dose of medicine you are prescribed. For example, if you are taking 50 doses of a particular medication, then you would need to pay at least that much out of pocket.