Your Medicare Advisor

Plan G and Plan N

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Dear AMAC,

I have a Plan G, but my friend has been telling me to check out Plan N. He said he has one and his premium is much lower than mine. I would consider Plan N if I could save some money. Can you tell me what the difference is between Plan G and Plan N?

-Dan (Lancaster, PA)

 

 

Hello Dan,

Plan G has been a popular choice among new Medicare beneficiaries. Although it is the most comprehensive option for those who began Medicare after year 2020, there is another plan letter you may want to look at. If you are comfortable with some copays after you meet your deductible, Plan N might be worth your while.

With Plan G, your Medicare approved services are covered at 100% once you have met your Part B deductible ($233 in year 2022). Just like Plan G, Plan N will also cover your out-of-pocket costs for Medicare approved Part A hospital services. However, with Plan N you will have a copay of up to $20 for some doctor visits, and up to $50 for some Emergency Room visits- after you meet your Part B deductible.

Additionally, Plan N does not cover excess charges. So, if you receive care from a provider that does not accept Medicare Assignment, which is the amount Medicare agrees to pay for services, the provider can charge you up to 15% more than the Medicare-approved amount. That 15% difference would be your responsibility to pay.

Excess charges are not common, but they do exist. Some states do not allow excess charges, and you happen to live in one of them. If you plan on travelling to a state that does allow excess charges, make sure to ask the provider ahead of time if they accept Medicare Assignment. Currently these states do not allow excess charges: CT, MA, MN, OH, PA, VT, RI. NY allows excess charges up to 5%.

In some areas, the Plan N premium can save you about $30 monthly. Keep in mind that copays and excess charges can play a factor in your overall savings. If Plan N is something you are interested in, feel free to give us a call to learn more!

If you or someone you know could benefit from our complimentary services, give us a call at 855-611-4856 and one of our licensed, knowledgeable advisors will be happy to help.


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artzy
1 month ago

I had plan N, but they started raising monthly payments too high so had to go to awful HMO. Insurances are way too high

Editor
Sabrinah Cave
1 month ago
Reply to  artzy

Hello Artzy,

I am sorry to hear that. Feel free to give us a call at 855-611-4856 during the next Annual Enrollment Period and we can help you compare plan options in your area.

MJ Cunningham
1 month ago

As a retired insurance agent marketing Medicare plans I would also advise that if you want even lower premiums than those offered with plan N and an out of pocket limit, consider a plan G High Deductible. Under this plan your maximum out of pocket is $2490 for 2022 which includes the $233 annual deductible. After that the plan pays expenses the same as standard plan G.

My wife, age 73, reduced her supplement premium from $212 to $68 per month by switching to the High Deductible plan G here in Arizona.

Not all states may offer this High Deductible plan G, so check with a licensed agent in your area or through the AMAC program

Dan W.
1 month ago
Reply to  MJ Cunningham

Good option and like the standard Plan G, excess charges are covered under Plan G High Deductible.

Editor
Sabrinah Cave
1 month ago
Reply to  Dan W.

Correct!

Editor
Sabrinah Cave
1 month ago
Reply to  MJ Cunningham

That is a great point MJ! For those who are comfortable paying a higher deductible up front, the High Deductible Plan G would certainly be a lower premium option.

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