Some of the highest coverage supplementary plans available to Medicare subscribers are going to end up costing them a lot of money. The money they save by choosing those plans may not entirely make up for it. That’s where Medicare Supplement Plan N for 2017 comes in. It may not have as much coverage as a few of the other high-coverage plans, but it is often much cheaper.
Of course, the rates for individual plans are decided by insurance companies. They choose the rates themselves and only have to stick to Medicare’s coverage regulations. So you could get a wildly different rate for the same plan without any coverage changes, Plan N may not be the same price everywhere, and if you want to save money on it, even more than it saves you over plans F and G, then you need to compare rates from various insurance companies. But before you do that, you may want to make sure that it will cover everything you need it to.
Plan N does come with a lot of coverage, but you won’t know if it leaves off something important an expensive until you examine it. Here is the short rundown of what it has to offer. With this plan you get coverage for all your nursing care (at approved facilities) and all your supplemental hospice care (also called Part A coinsurance). You will also be covered for other common expenses like more blood each year (as much as three more pints), most co-payments and the Part B deductible. You even get coverage for the majority of foreign medical emergency care.
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Now if you choose Medicare Supplement Plan N for 2017, you will be left with a few supplemental expenses to pay on your own as well as medical expenses not covered by the plan or Medicare basic. But those expenses may not be very much depending on your medical needs. That should be the deciding factor for any Medicare subscribers when they pick out a supplement plan- how it covers their personal needs. A full coverage plan or a very cheap plan may sound appealing, but they may not offer you the best value for your money.
What you should be looking for is a supplemental plan that covers most of your medical expenses and is still affordable. Remember, if you find a plan that you like and that really covers you well, after you have looked at all that is available, then you definitely want to try to find the insurance company that is offering it for the lowest rate. You won’t lose any coverage that way, but you can save a lot of money.
Ultimately, that is the goal with Medicare supplement plans. You want to save as much money as possible, and you can only do that with Medicare Supplement Plan N for 2017 if you find that it fits you best and that it is affordable. Take some time to look at your options and consider each plan in turn. You don’t want to miss a plan that would save you a lot of money just because you rushed into signing up for one.