Medigap Plan F and Plan G offer the most comprehensive coverage to supplement your Original Medicare coverage and, with very competitive rates, have been the most popular plans for people to buy. As the cost for health care continues to increase, people are being exposed to higher and higher premiums once their initial premium rate locks expire. In an effort to reduce their premiums, many people have begun looking at plan N as a great alternative to plans F and G and is great for people who want to save some money on their premiums.
Plan N offers all of the same benefits as F and G, except it doesn’t cover the Medicare Part B deductible ($147 for 2014 – plan G doesn’t cover this deductible either) or Part B excess charges (an amount up to 15% above what Medicare approves for services-rendered – only applicable if a doctor doesn’t accept assignment). If your doctor accepts Medicare and assignment, then they are accepting the Medicare-approved amount for the service as payment in full. The only other difference between the plans is that under plan N, you would have a copay as well for visits to the doctor (up to a $20 copay) or the hospital (up to a $50 copay). The difference in premiums can make the small copays a very worthwhile benefit.
This is a great plan for those on a fixed income who want to keep their premiums down while maximizing their benefits, and limiting the out-of-pocket costs they can be responsible for.