is medicare plan n the right medicare supplement to get when you come into medicare and that's
a great question i'm gonna go through it all right now i'm keith armbrack founder of medicare
on video i help people across the country make the right medicare choices and i can absolutely
help you as well the best part is there's no cost to allow me to help you so hopefully you'll take
advantage of all the information that i have and make it beneficial to your medicare journey
right now we're going to talk about medicare supplement plan n now i just did a video on
medicare supplement plan g and you can find that video right here if you click up there it'll take
you right to that video but these are two of our really major choices when we come into medicare
and if we're going to stay on original medicare part a and part b we want a supplement that's
going to cover the pieces that a and b do not it has a big deductible on a and it has a lot
of co-insurance on b so we don't want to be responsible really for any more than we have
to so now is finding out which is the best plan to choose and when we look at medicare supplement
plan n it's very similar to g and when you line up supplements you know in the old days plan f
was kind of the go-to because it covered 100 of everything no out-of-pocket costs and then in 2020
they made f unavailable so f is no longer a choice which is actually a good thing
because it was actually overpriced so wasn't a good choice anyway but people liked having 100
coverage so now g is the next closest thing to f and it's exactly the same as f with
the exception of it doesn't cover the part b deductible which is right now 233 dollars very
small deductible i'm sure you have something much bigger than that before medicare so that's g 100
without covering the deductible and then n is right alongside a g where it has a few more
out-of-pocket expenses but the premium is lower so we need to weigh which makes more
sense is if we take a little bit more out of pocket but it lowers our premium then that may
make a lot of sense so when we take a look at plan m and again exactly the same as f and g
just some different out of pocket parts that we need to understand so on plan n
covers 100 of everything with the exception of it doesn't cover the part b deductible just like
g so it doesn't cover the 233 and that's an annual deductible so that means when you start in january
you're going to be responsible for the first 233 dollars out of pocket and then the plan is
going to kick in and pay after that now where anne has some additional out-of-pocket expenses
it has a twenty dollar copay for a doctor's office visit so when you go to the doctor or a specialist
it's going to cost you up to it it generally is generally twenty dollars but sometimes it's
less than that but it's gonna cost up to twenty dollars as a copay which again not a big deal
unless we go to the doctor two three times a month then the twenty dollar copay might make sense if
it brings our premium down you know enough to make it justify having that copay there's also a fifty
dollar copay if you go to the emergency room now i can tell you going to the emergency room if it's
going to cost you 50 bucks that's not a bad deal i actually had an emergency room visit not long ago
and i'm on a high deductible plan i'm not quite into medicare yet but my high deductible plan
didn't have a copay my emergency room costs about twenty two hundred dollars so
significant so if you have a fifty dollar copay to go to the emergency room
not a big deal and if you get admitted to the hospital they waive the copay now on plan n
something that makes it a little gray is there's something called excess charges and it kind of can
push people away from it sometimes but it's really not a big deal as long as we understand
it so with excess charges when you go to a doctor a doctor that contracts with medicare can contract
in one of two different ways they can either take medicare assignment or they can just simply take
medicare so if they take medicare assignment it means that they agree that whatever medicare pays
them is payment in full and the vast majority of doctors contract under medicare assignment if they
are not under assignment and just medicare it gives them the ability to bill you 15
more than what medicare pays them so when we break it down and again vast majority of doctors
contract as as medicare assignment i've never had anybody have a real issue with excess charges but
you know let's say you went to the doctor and it was you know 100 office visit which under medicare
probably never going to be up to a hundred dollars but it would give them the ability to bill you 15
above that so it's just important to understand and if and if we're really concerned we just ask
you know do you take medicare assignment and hopefully they'll know a lot of times they
don't they confuse it with medicare advantage but something understands so pretty easy plan f 100
percent plan g 100 except the part b deductible 233 plan n 100 except the part b deductible
20 copay at the doctor 50 copay at the emergency room and excess charges are there just for us to
understand so when do we buy whatever we want to buy so number one never buy plan f never buy plan
f we can save more money in premium than having that part b deductible covered so it never made
sense and and still if you're on plan f give me a call we will absolutely save you more than the 233
deductible in your premium to make it worthwhile to shift to a plan g or even a plan n so where i
would choose between the two and state to state the pricing is different so some states are more
expensive than other states and these days there's kind of a shift to plan n and there's some other
reasoning i'm not going to get too deep on that but plan g is fantastic as long as it's reasonably
priced it's fantastic if plan n to me is more than 25 less in premium than g i'm gonna buy plan n so
for instance if we look at plan g and it's 120 and we look at plan n and it's 90 i'm buying plan n
if we look at g and it's 120 and n is 110 i'm buying g so i put the line for myself
at 25 so if it makes a difference in premium i mean that's 300 a year in savings to take
on the 20 copay emergency room copay and then again just understanding the excess charges but
that's what my feeling is on plan n give us a call send me an email we're happy to go through
each one of them and make the right choice we want to get it right at the beginning because it can be
complicated to change later so i hope you found this helpful i'm going to show you how to get my
book for free stay tuned have a fantastic day thank you for taking the time to watch my video
i hope you found it very helpful here are a couple other things that you'll also find helpful as you
go through medicare the first one is a copy of my book medicare made clear you can download it right
now for free i've put a lot of time and effort into this book and you'll see i covered just about
every piece of medicare and i've written it in a way that makes it pretty easy to understand
now i also have videos throughout the book so if you don't want to read through all the information
click on the video and i'll explain it all to you right there you'll also find all the links that
you need to either sign up for medicare or things that you're going to need now or in the future
when things come up related to medicare so take just a minute
go to medicare on video dot com forward slash free book and you can download it right now
now also make sure once you're in medicare that every year you come back and visit
medicare price check this is my other website where i make it super easy for us to compare
our current coverage against new plans that may be less expensive and remember that medicare
supplements are standardized so it doesn't matter which insurance company we use we'll still have
the same plan g or the plan n that we have now but hopefully we can get it at a lower price so
visit medicarepricecheck.com easy we'll email you the quote if it makes sense then we'll do it from
there so hope you found all this helpful have a fantastic day hey don't go anywhere these are some
of my most recent videos right here you can also find the link right below this video to download
my book medicare made clear absolutely free you can also subscribe to my channel right here
so please download my book watch some videos subscribe to the channel have a great day