Plan N of the most popular Medicare Supplement plans. Like the other Medigap plans, it is standardized plan which means it offers the same benefits to the customers irrespective of the insurance service provider they have bought it from. The Plan N covers 100% of the Original Medicare Part B coinsurance cost. However, the customers need to pay $20 copayment for office visits and $50 for emergency room visits. The Plan N provides all the benefits as provided by Plan G with the exception of the excess Part B charges. The description of the features of the Plan N of the Medicare Supplement plan are provided below:
The Plan N covers the unmet expenses of Original Medicare Part A and Part B. It covers the Original Medicare Part A coinsurance, copayments, and deductible. It covers the Part B coinsurance except for the office visits and emergency room visits for which the customers have to pay copayments of $20 and $50 respectively. The customers also get coverage for Part B preventive care coinsurance and expenses towards first three pints of blood used for any medical procedure. The cost of skilled nursing facility (SNF) coinsurance is also covered under the Plan N of the Medicare Supplement plan. The Plan N also covers 80% of the total cost towards emergency healthcare for the customers within the first 60 days of foreign travel.
The Plan N of the Medicare Supplement plan does not cover the deductible under the Part B of Original Medicare. This means that the customers need to pay the amount equivalent to the deductible under Part B, for the policy benefits to commence. Another major exclusion under the Plan N is the excess charges over Part B. Excess charges are the additional charges which the customers may have to pay over and above the Medicare-approved charges for medical procedures. The doctors who do not accept Medicare Assignment are allowed to charge a maximum excess of 15% over the Medicare-approved rates. The customers under the Plan N have to pay these excess charges on their own.
Is it Suitable for Customers?
Plan N has been slowly gaining popularity among the Medicare Supplement plans. The customers should assess if they can bear with the exclusions under the Plan N. If customers are fine with paying the Part B deductible, excess charges over Part B, and the copayments for each visit to the office of the doctor and the emergency room, then they can opt for Plan N.
The industry of Medicare Supplement plans has seen a remarkable success after the 2003 Medicare Modernization Act, and according to the study Medicare Supplement Plans 2016 covered almost 17 million or around 33 percent of the total Medicare recipients. The Medicare Supplement plans provide option to the seniors or retirees to get their private health care plans unlike single and rigid perks structure of Original medical security which is directly controlled by the federal government via Centers for Medicare (CMS) and Medicaid Services.
A lot of researchers have done work regarding the service and efficiency of mechanism of health insurance Supplement Plans and Medicare Fee-For-Service, but in doing so, they ignored additional benefits which health insurance Supplement plans bring and which differentiates these plans. Find out more at https://www.medicaresupplementplans2020.com/
The studies show that many insurers have introduced additional benefits of health insurance Supplement schemes such as gym (fitness programs) in their plans to attract enrollees who love being healthy and fit benefits such as hearing, vision similarly and dental coverage also fall into category of additional benefits of health insurance Supplement schemes. However, organizations like Centers for Medicare (CMS) have said that these additional benefits are only a minor part of Medicare Supplement schemes. Majority of additional benefits of Medicare Supplement schemes are of great importance to sick enrollees than to healthier ones. As I have mentioned already that health insurance Supplement schemes offer dental care, eye care etc. in addition to calamity of out-of-pocket costs.
Furthermore, additional benefits of health insurance benefit schemes are easily available in places which offer these schemes and great thing about most of them is that they do not charge anything extra (no supplemental premium) for these perks to their beneficiaries and due to this getting these benefits becomes very easy for middle class or even for poor enrollees.
Some other inclusions in the supplemental benefits of health insurance benefit plans could be health insurance Prescription Drug scheme or Part D plan which is offered both in Original medical insurance and in health insurance benefit plans with low charges but only thing which can cause problem is that enrollees should first make sure that whether provider covers their prescription drugs or not because schemes mostly cover only certain drugs. After reading all information which is mentioned above we see that this scheme is designed in such a way to make sure that it provides the benefit to a common senior citizen in an efficient manner.
According to most of the research studies more and more people are enrolling themselves in the Medicare benefit schemes due to their cool premiums and total health care in a single place. To understand it in a better way you can think of it that 1 in every three enrollees is a member of Medicare Supplement plans. The percentage of Medicare Supplement enrollees has increased dramatically than the 13 percent back in 2004. Let us discuss Medicare Supplementvs. Medicare. Want to find out more ? Visit https://www.medisupps.com/medicare-supplement-plans-2020/
According to the recent study published by the U.S Government Accountability Office, the ill enrollees of health insurance SupplementPlans who spend massive amounts of healthcare are the ones who are more likely to cancel their enrollment than those who are not sick (healthy). According to another study from Brown University, enrollees of Medicare SupplementPlans are also more likely to stay in low-quality nursing facility than enrollees of Original Medicare.
The healthier enrollees who do not need to visit hospitals or doctors often are at an supplementwith Medicare SupplementPlans because of cheaper premiums of medical security Supplementthan those Part B premiums, Part D Prescription Drug plan, and Medigap policy in Original Medicare. When members of health insurance Supplementschemes get sick then they realize that their plan does not allow them to visit doctor and hospital facility of their choice moreover, they need to get a referral from their primary care doctor to see a specialist in some schemes. Majority of the medical security benefit Plans bound their members to only use services of in-network service providers, therefore; this requirement mostly drives sick patients to remove their enrollment.
Private insurance companies provide health insurance benefit plans. Therefore, every health insurance benefit plan has its own monthly premium, and some of health insurance Supplementplans have premiums as low as $0 per month.
Good thing about health insurance benefit plan is that when someone enrolls in it even then, they still have their Original Medicare and have to pay usual monthly premium of Part B.
Policies of plans mentioned above differ from each other. Moreover, a plan which is offered by one company might have different costs and terms and conditions in another insurance company. On one hand, health insurance benefit Plans have their disadvantage, but on other hand, these plans offer a range of choice to all sorts of people to choose plan which fulfills their needs.
Medicare Supplement Plan F is the most favorite plan. More than half of the total Medigap policies sold in the US in 2017 were under the Plan F. The Plan F provides the most complete coverage to the customers. It also covers the deductible under the Medicare Part B. Some of the key features of the Medicare Supplement Plan F and the reasons for it being the most popular Medigap plan are provided below:
Part B Deductible
Plan F, along with Plan C are the only Medicare Supplement Plans to cover the deductible under the Original Medicare Part B. The Original Medicare Part B covers only 80% of the total cost of medical procedures. Under the Plan F, the remaining 20% out-of-pocket expenses are also covered. The customers do not have to worry about meeting the deductible under the Part B as it is covered by the Medigap Plan F.
Coverage for Foreign Trip
The Plan F provides coverage to the customers during foreign trips. The Plan F covers 80% of the total cost of emergency healthcare expenses when the customer is in a foreign country. The limit for coverage for emergency healthcare expenses overseas is $50,000.
Covers Part B Excess Charges
The Medicare prescribes the Medicare fee schedule which are the Medicare-approved charges for Medicare-covered services. A doctor who does not accept the assignment can charge an excess over the Medicare-approved charges. As per law, the doctors can charge a maximum of 15% over the Medicare-approved rates. The customers under Plan F of Medicare Supplement plan do not have to worry about excess charges as it is paid by the Medigap Plan F.
High-Deductible Plan F
The Plan F also comes with a high-deductible variant which allows the customers to reduce their monthly premium if they pay a higher deductible. In the high-deductible variant of the Medicare Supplement Plan F, the customers will pay more towards the Medicare-related costs before the benefits of the Plan F starts. Once the customers reach their deductible, then they get 100% coverage against all out-of-pocket expenses.
Provides Peace of Mind
Plan F provides the most comprehensive coverage and therefore is the most expensive among all the Medicare Supplement plans. However, it provides the most comprehensive and 100% coverage against any out-of-pocket expenses to the customers. The costly monthly premiums though lead to considerable future savings on healthcare-related expenses. Overall, the Plan F offers a complete peace of mind to the customers.
Plan G of the Medicare Supplement plan has been gaining popularity. It comes closest to the most popular and comprehensive Medigap Plan F. The only difference between the Plan F and Plan G is that the later does not cover the deductible under the Original Medicare Part B. Further, due to the discontinuation of the Plan F for new customers from January 1, 2020, the customers are considering purchasing the Plan G. The sales of the Plan G have been registering a steady increase due to this. The detailed features and benefits provided by the Plan G of Medigap are provided below:
Features of Plan G
The Plan G covers the unmet expenses of Original Medicare Part A and Part B. It covers the excess charges under the Plan B of the Medicare. The customers are also protected against emergency healthcare expenses while traveling to foreign countries. The maximum limit for foreign travel medical emergency healthcare expenses is $50,000. It provides coverage for first three pints of blood used in a year and skilled nursing facility care coverage.
Excess Part B Charges
One of the unique features of the Plan G of Medicare Supplement plan is that it covers the Part B excess charges. Medigap Plan F and Plan G are the only plans which cover Part B excess charges. Excess charges are the additional charges which the customers may have to pay over and above the Medicare-approved charges for medical procedures. Generally, the Medicare has set approved payment rates known as the Medicare fee schedule for different Medicare-covered services. The excess charges are the difference between what the Medicare pays and what the doctor actually charges. The customers may have to pay extra if the doctor does not accept the assignment. As per law, a doctor can charge a maximum of 15% in excess to the Medicare-approved charges. The excess charges are met by the Plan G so the users do not have to pay it out-of-pocket.
Plan G provides good value for money. It provides all the benefits of Plan F except the deductible for Part B. The deductible for Part B for 2019 is $185. The customers once they reach their deductible, are provided 100% coverage against all out-of-pocket expenses. The difference in premium between Plan F and Plan G is more than the deductible for Part B. The customers can save significantly on the premium compared to the Plan F.
Due to the discontinuation of the Plan F for the new customers from January 1, 2020 the customers have been looking out for worthy alternatives to the same. Plan F has been the most popular in the Medicare Supplement plans as it covers all the expenses including the deductible for Part B. Plan G is the next best alternative to Plan F and the new customers can plan to buy the Plan G. The article provides an overview of the features of the Plan F and Plan G and assesses if the Plan G can be a good alternative to the Plan F.
Features of Plan F
Plan F is the undoubted favorite among the citizens among all the Medicare Supplement plans. It offers the best coverage and benefits to them. The Plan F covers 100% expenses including the deductible of the Part B of the Original Medicare. Customers holding the Plan F do not have to worry about any out-of-pocket expenses as it covers the copayments, coinsurance, and the Part B deductible. It also covers the Part B excess charges and 80% of the expenses towards medical emergency care expenses during foreign trip. However, the Plan F will be discontinued for the new customers from January 1, 2020.
Features of Plan G
Plan G of the Medicare Supplement Plan comes closest to the Plan F in terms of the coverage and benefits offered. The Plan G covers all the expenses and provides all the benefits as the Plan F except the deductible for Part B. Plan F is the most expensive among all the Medigap plans due to its full coverage including the deductible for Part B. Plan G comes at a much lesser premium than the Plan F. The deductible for Part B for the year 2019 is $185 which is much less than the difference in premium between the Plan F and Plan G.
Is Plan G the Best Alternative to Plan F
Plan G is the closest alternative to Plan F. The only difference is the exclusion of the deductible for Part B in the Medicare Supplement Plan G. The Part B deductible for 2019 is fixed at $185 meaning once the customers pay their deductible of $185, they get complete coverage as under Plan F. The premium difference between the Plan F and Plan G is more than the deductible amount of $185. Hence, Plan G offers better value for money to the customers and they can buy the same instead of the Plan F.
Your smart phone is capable of performing an incredible amount of tasks for you. Much more than just a phone these days, they are loaded with a variety of apps designed to simplify your life and an internet connection keep you connected to the world. Your internet browser can be used for more than just learning about different Medicare supplement plans.
If you are the kind of person that can never stay in one place for too long, there are a ton of apps you can take advantage of. Hotel apps like those for Hilton or Marriott allow you to search for hotel rooms anywhere you might want to go, and take advantage of specials, discounts, or membership benefits while you use them. You can also use travel comparison apps to make sure you are finding the best deal wherever you go. Find the perfect destination for your next trip and compare hotel, rental cars, and flight prices with sites like Priceline or Travelocity.
Find your favorite cuisine or search for the local area’s most popular restaurants by searching review apps like Yelp or Google. Use them to look up menus, view pictures of the establishment, see what patrons are saying about them, and decide if it’s a place you want to spend your money. Submit a review yourself after you visit a place and you can earn points towards rewards for future visits or other special deals around the city. You can even find apps that will allow you to pay for parking on the street at meters that participate in the parking app.
If you prefer to stay in, apps like GrubHub will let you order food online and have it delivered to you with the push of a button. If you have small tasks around the house that you can’t do or don’t have time to do, use TaskRabbit to find a trusted worker and hire them to do the work for you. From general cleanup around the house, raking leaves, or fixing an appliance to full landscaping projects or laundry service. Full reviews of the worker or company can be found on the app so you can decide for yourself if it’s someone you can trust and want to hire for your special project.
Are you occupying your time during retirement by keeping a consistent blog of your special interests? Do you enjoy doing it, but are having a hard time coming up with ideas on what to blog about? Here are some content ideas to keep your blog going consistently.
Anything involving the great outdoors is a great place to look for inspiration for your personal blog. If you love to travel, you have a worldwide supply of content to capture and curate. You could also blog about your experiences with gardening. Try experimenting with planting new items you haven’t grown before. Fruits, vegetables, flowers, trees, etc. are all great gardening topics. Landscaping is also a great topic for blogging. Talking about your experiences, the challenges you face and how you overcame them, how it made you feel while you were working on it, and the benefits it has brought to you are things people are interested in reading about. Take plenty of pictures to document your progress from beginning to end so your followers can see the progress you made.
If you like to cook, cooking blogs are always a hit. People love to eat and are always looking for new, delicious recipes to try. If you have a knack for the video, record yourself while you are cooking and talk to the camera as if hosting your very own cooking show. You can edit the footage later, but step by step video instructions are great content for blogs. If you are talented enough you may even end up on the Food Network one day!
Try blogging about things you have extensive experience with, or a high level knowledge about. Insurance is always a hot topic, so discuss Medicare supplement plans for your followers if you know enough about them. Antique household objects or cars are also great blog topics. Document yourself restoring a piece of old furniture, or rebuilding that dream car of yours from childhood. It will be a fun and rewarding experience for you while you do it, and you get the added benefit of being able to blog about it at it the same time.
Blogging about things you’re skilled at doing is a great way to get noticed by your followers and possibly earn extra money on the side. Someone may want to hire you to do a task you are good at for them, or they may ask you to promote their product or service on your blog.
These days you don’t need to buy a physical book and carry it with you in order to take in its content. With smart phones, laptops, and tablets, you can buy audio books to listen to your books instead. This a great option if you aren’t a particularly avid reader or if you spend a lot of time in the car and don’t have time to read. There are various apps now that allow you to listen to audio books right in your car, which is especially convenient for long road trips. How would you like to finish an entire book in one car ride?
Make sure you have an internet connection so you are able to download these apps. Your internet browser can be used for more than just learning about different Medicare supplement plans. A great app for audio books is Audible. You can pay for a monthly membership that gives you 1 or 2 credits for audio books each month, or member discounts if you want to buy the book outright without having any credits left for the month.
Most books these days have been read aloud for audio book recordings, so chances are whatever book you are interested in “reading” will be available. Once you purchase your audio book you can download to one or more devices that you own so you can listen to it virtually anywhere you go. On your laptop at home, on your tablet when you are away, or on your phone if you’re in the car. Bookmark your place when you stop listening for a period of time so it will pick right back up where you left off regardless of what device you start listening to it on again.
Another way to take in information that you love to learn about is through podcasts. Apps like Spotify allow you to subscribe to podcast creators or channels, and listen to episodes. Spotify offers a free version, which stops what you are listening to on occasion to play you an ad for a specific product, or a paid version that will allow you to listen ad free for a monthly fee.
There are a wide variety of podcast creators these days and they create content for a large range of subject matter. From cars, money, travel, or technology, no matter what you are interested in learning about, there is a podcast for you.
There are certain “Guaranteed Issue” periods which are allotted to Medicare supplement plans. This enables individuals to apply for a plan without being denied coverage, regardless of their previous conditions, or being charged more because of any health conditions. Rights for guarantee issue (GI) period have federal mandates from the Centers for Medicare & Medicaid Services and apply to every Medicare-enrollee who falls into the category of one of these specific situations.
Generally speaking, the GI rights occur when the health care coverage you currently have is being modified in a certain way or you are losing your coverage involuntarily. Certain insurance companies may develop their own GI situations—and they sometimes do so.
However, all Medicare Supplement insurance companies must as a matter of fact follow seven federally prescribed GI situations. You or any individual should be able to enroll for a Medicare Supplement plan on a Guaranteed Issue basis if you fall into one of these periods. These seven federally prescribed GI situations are:
You signed up for a Medicare Advantage PACE or plan when you first qualified to enroll, and within one year of enrolment, you decide to switch back to the original Medicare Supplement plan.
You signed up for a Medicare Advantage plan, and this plan stopped servicing your area, is leaving the Medicare program, or you are moving out of the specific service area covered by the plan.
You have a union coverage or an employer that pays AFTER Medicare, and that coverage will soon end.
You do have a Medicare SELECT policy, and you are relocating from the service area covered by the plan. You can maintain your current policy, but you have the right to switch to a new policy on a GI basis.
Your Medicare Supplement company has gone bankrupt, and this causes you to lose coverage, or through no fault of yours you lose Medicare Supplement plan coverage.
You left a Medicare Supplement plan to switch to a Medicare SELECT or Medicare Advantage policy for the first time. The plan has been running for less than a year now and you wish to switch back to a Medigap policy.
You took a decision to sign off a Medicare Advantage plan or leave a Medigap policy because the provider did not follow the rules or has misled you in some way.
States also have the legal authority to create extra GI situations, and some States have actually done so. Some of the specific GI situations also have specific requirements for the plans that you can sign up for. For instance, in the case of a Medicare Supplement plan, you may qualify for a GI; however, it may have to be one of the recognized plans.
If you are on a Medicare, it is beneficial for you to be aware of these guaranteed issue situations. If you are eligible for one of them and you decide not to enroll for a plan while that GI period is in effect, it is most likely that if you decide later on to sign up, you will have to qualify medically for a Medicare Supplem