If you don’t know already, there are ten standardized Medicare Supplement plans and two High Deductible Supplement plans. Not only are there several plans to choose from, but multiple insurance carriers can offer these plans. Therefore, the premiums for each plan can vary significantly.
When a plan is standardized, each insurance carrier that offers that specific plan must provide the same coverage. For example, Medicare Plan G with carrier ABC must offer the same coverage as Medicare Plan G with carrier XYZ. You can learn more about this standardized plan by visiting Boomer Benefits – Medicare Plan G.
However, the coverage from one plan to another is different. For example, Plan G will offer different coverage than Plan N. What is the difference between these two Medicare Supplement plans? Let’s find out!
Medicare Plan G Coverage
Medicare Plan G is one of the most popular Supplement plans. Since it is a supplemental plan, it pays after Original Medicare. Original Medicare Part A and Part B helps cover your hospital and medical costs. However, Original Medicare does not cover all your expenses, and therefore, Plan G can help cover those for you.
If you have a Medicare Plan G policy, it will cover all the following services at 100%:
- Medicare Part A coinsurance and hospital costs
- Medicare Part B coinsurance
- First three pints of blood
- Part A hospice care coinsurance
- Skilled nursing facility coinsurance
- Medicare Part A deductible
- Part B excess charges
The one service that Plan G does not cover for you is the Part B deductible of $233 in 2022. You would pay the total cost of Part B services until the $233 is satisfied. Once that is satisfied, you should be covered 100% for approved hospital and medical services for the remainder of the year.
Medicare Plan N Coverage
Medicare Plan N coverage is similar to Medicare Plan G. Plan N is another popular Supplement plan that pays secondary to Original Medicare.
Plan N covers the following services for you:
- Medicare Part A coinsurance and hospital costs
- Medicare Part B coinsurance except for office visits and emergency room copays
- First three pints of blood
- Part A hospice care coinsurance
- Skilled nursing facility coinsurance
- Medicare Part A deductible
Medicare Plan N does not cover the Part B deductible like Plan G. It also does not cover Part B excess charges, and it has up to $20 copays for office visits and up to $50 copays for emergency room visits.
Part B excess charges
When a doctor accepts Medicare insurance but not Medicare Assignment, they do not accept what Medicare will pay for a service. Therefore, if you see a doctor that does not accept Medicare Assignment, they can charge you 15% above what Medicare will pay for a service. This 15% charge is called a Part B excess charge. If you have Plan N and see a doctor that does not accept Medicare Assignment, you will be responsible for those charges.
Plan G and Plan N Provider Networks
Original Medicare is your primary insurance when you enroll in Medicare Plan G or Plan N. Since it is primary, you can see any doctor or facility that accepts Original Medicare. When they accept Original Medicare, they must accept your Supplement plan no matter which plan or insurance carrier you have.
With both Plan G and Plan N, you can travel across the nation and have coverage with no issues of in-network versus out-of-network providers.
How Much Do Plan G and Plan N Cost?
Medicare Supplement plans have monthly premiums. Premiums are based on age, zip code, tobacco use, and gender. Since Plan G covers more services for you, the premiums tend to be higher than Plan N. You’ll want to compare the most cost-effective carriers for each plan to determine which one might be best for you.
Coverage for Drugs
Supplement plans do not cover most prescription drugs. When you enroll in a Plan G or Plan N policy, you’ll need to choose a Part D drug plan for prescription coverage. Neither Supplement plan will help with your Part D drug costs.
Summary
For the most part, Plan G and Plan N are very similar. Plan N’s coverage is not as comprehensive as Plan G since it does not cover Part B excess charges and has copays. However, since the premium can be lower than Plan G, it could be more cost-effective depending on how often you go to the doctor. Speaking with a Medicare broker who can compare the costs of these two plans can help you determine which plan is right for you.
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