Considering a Medicare Supplement Plan? There are 10 different plans to choose from. Of those choices, Plan G and Plan N are the most popular. Choosing between the two can be tough because they have more in common than not. But, they do have some differences. When making this decision, you have to keep your financial and personal situations in mind. It is important to be educated on what each plan covers. Being misinformed can lead you to high out-of-pocket expenses. Let’s go over the similarities and differences between the two plans, and the coverage they each offer.
Medicare Supplement Plans G and N both:
- Cover Medicare Part A Deductible
- Do Not Cover The Annual Medicare Part B Deductible ($185)
- Cover Parts A & B Coinsurances
- Cover Hospitalization
- Cover Blood (first 3 pints)
- Cover Hospice Care
- Cover Skilled Nursing Facility Care
- Cover Foreign Travel (up to plan limits)
- Require Medical Underwriting (unless open enrollment, or have guaranteed issue)
Now that the similarities are out of the way, let’s get to the differences between the two plans. Plan G is popular because it offers the second most coverage (second to Plan F which is disappearing in 2020).
Plan N is also popular because it is less expensive than Plan G, and offers a good amount of coverage (even though it offers a little less than G). Plan G will cost you roughly $30-50 more per month than Plan N. The differences in what each plan cover are:
Medicare Supplement Plan G
Medicare Supplement Plan G has a higher premium because it offers more comprehensive coverage. The plan has:
- No Part B Doctor/Outpatient Copays
- No Emergency Room Copay
- No Part B Excess Charges
Medicare Supplement Plan N
Medicare Supplement Plan N offers a lesser premium because it offers less coverage. This means you will pay more out-of-pocket for medical expenses. The plan has:
- Part B Doctor/Outpatient Copays (of up to $20)
- Emergency Room Visit Copays (of up to $50, unless admitted)
- Part B Excess Charges (up to 15% of charges by a doctor who does not accept Medicare Assignment)
Which Is Best For You?
When choosing between these two plans, it really depends on your health and your finances. If you are relatively healthy, and less likely to visit the doctor, then consider Plan N. If your health requires you to visit the doctor more often, then Plan G is more ideal for your situation.
Planning out your finances, and determining which plan will work for you can be difficult and time-consuming. A Medicare agent will do all the research, go over each plan, the costs, and help you choose which one is best for your situation. EZ.Insure offers you your own personal agent to work with. This way you will not bounce from agent to agent. Your agent will answer any questions you have, compare the plans for you, and even sign you up, for free! To get started simply enter your zip code in the bar above, or you can speak to an agent through emailing email@example.com, or calling 888-753-7207. EZ.Insure makes the entire process easy, simple, and quick.