As you approach your 65th birthday, it’s important to consider your healthcare needs and options. One of the most important decisions you’ll make is choosing the right Medicare plan. Medicare Plan N is one option that may be a good fit for you. The bluewave insurance is an insurance agency that specializes in helping individuals and families find affordable health insurance plans, including Medicare Advantage, Medicare Supplement, and prescription drug plans. In this article, we’ll explore what Medicare Plan N covers and who it’s right for.

What is Medicare Plan N?

Medicare Plan N is a type of Medicare Advantage plan, also known as Medicare Part C. These plans are offered by private insurance companies and provide an alternative way to receive your Medicare benefits. Medicare Advantage plans must offer at least the same coverage as Original Medicare, but they often include additional benefits such as dental, vision, and hearing.

Medicare Plan N specifically is a “cost-sharing” plan, meaning that you’ll pay some out-of-pocket costs for certain services. In exchange for these cost-sharing requirements, your monthly premium may be lower than other types of Medicare Advantage plans.

What does Medicare Plan N cover?

Medicare Plan N covers all of the same services as Original Medicare, including hospital stays, doctor visits, and medical equipment. However, there are some differences in the cost-sharing requirements. Here’s what you can expect with Medicare Plan N:

Part A costs

• Medicare Part A deductible: You’ll pay 100% of the Part A deductible, which is $1,484 in 2021.
• Hospital stays: You’ll pay a copay of up to $370 per day for days 1-20 of a hospital stay. After day 20, there’s no cost-sharing requirement.
• Skilled nursing facility stays: You’ll pay a daily copay of up to $185 for days 21-100 of a stay.

Part B costs

• Medicare Part B deductible: You’ll pay 100% of the Part B deductible, which is $203 in 2021.
• Doctor visits: You’ll pay a copay of up to $20 for each office visit. If the doctor charges more than the Medicare-approved amount, you may have to pay the difference.
• Emergency room visits: You’ll pay a copay of up to $50 for each visit.
• Lab tests and diagnostic imaging: You’ll pay a copay of up to 20% of the Medicare-approved amount.

Other costs

• Prescription drugs: Medicare Plan N doesn’t cover prescription drugs. You’ll need to enroll in a separate Medicare Part D plan for that coverage.
• Out-of-pocket maximum: Medicare Plan N has an out-of-pocket maximum of $3,400 in 2021. Once you reach this limit, you won’t have to pay any more cost-sharing for the rest of the year.

Who is Medicare Plan N right for?

Medicare Plan N may be a good fit for you if:

• You don’t mind paying some out-of-pocket costs for certain services in exchange for a lower monthly premium.
• You don’t need a lot of medical care or expensive treatments.
• You’re comfortable with using network providers and getting referrals to see specialists.

However, Medicare Plan N may not be the best choice if:

• You have a chronic condition that requires frequent medical care or expensive treatments.
• You travel frequently and need access to healthcare outside of your plan’s network.
• You prefer a plan with no cost-sharing requirements.

Before choosing a Medicare plan, it’s important to compare your options and consider your specific healthcare needs and budget. You can use the Medicare Plan Finder tool on the Medicare website to compare plans in your area.