Smart Alternative To Medicare Advantage

Medicare Supplement Plan N
By David Forbes

What makes Medicare supplement plan N a good alternative to an Advantage plan? Your Medicare Advantage plan can change every year. The benefits can change, the premium can increase or the plan may not renew for the following year. What if you don't like the changes? Or maybe your Medicare Advantage plan is not renewing for the following year.

Take a look at Medicare supplement plan N as a viable alternative. Plan N was introduced in June 2010 as one of the new Modernized Medicare supplement plans. Plan N offers more freedom than an Advantage plan, as well as lower premiums than most other Medicare supplement plans. In some cases, it will have lower premiums than some of the Medicare Advantage options that are available. Benefits are fairly comprehensive Benefits of plan N include: Medicare Part A:

    Part A hospital deductible
    Part A hospital coinsurance
    Skilled nursing facility coinsurance
    Blood
    Hospice co-payment/coinsurance

Medicare Part B:

    Part B outpatient coinsurance
    Blood

Other Benefits

    Foreign travel emergency - 80% to lifetime max of $50,000 after $250 calendar year deductible
Premiums for Medicare supplement plan N are less than other supplements because the policy holder will share some of the outpatient costs. If you purchase this supplement, you will be responsible for:

    The Part B deductible - currently $155 annually
    Up to a $20 co-pay for a doctors visit
    Up to a $50 co-pay for an emergency room visit

Why Medicare supplement Plan N is a smart alternative to a Medicare Advantage plan When you purchase plan N you are not bound by any network restrictions like many Advantage plans. Also, supplements offer standardized benefits from one company to the next and are readily accepted by medical providers. Because these are standardized plans, it is easy to compare one company to another. The difference between plan N from one company to the next is price and the perceived level of customer service.

Other than the small co-pays for doctors visits and ER visits, you will have very little out-of-pocket expense. No deductibles or daily co-pays for inpatient hospital stays are required. You may have less out-of-pocket expenses for some outpatient procedures. Many Advantage plans require the same coinsurance levels as original Medicare for outpatient surgery and other medical services. Your plan N supplement will cover the 20% coinsurance for outpatient surgery that Medicare doesn't pay. Unlike an Advantage plan, plan N is not an annual plan and you are not subject to enrollment periods. Many providers are offering plan N with limited underwriting and pre-existing conditions are not relevant in many cases. If your Medicare Advantage plan is not being renewed you are guaranteed acceptance into a Medicare supplement plan.

What are you missing?

Supplements fill in the gaps left by Medicare. You are generally not afforded additional benefits, like dental, vision or gym memberships. So you need to determine the importance of these ancillary services compared to the freedom and level of coverage offered by the supplement. Medicare supplements do not include Part D drug coverage. You will need to purchase a separate drug plan and will still be subject to Part D enrollment periods. Whether or not the plan will fit your budget is obviously a huge factor. But that said, there are Advantage plans with higher premiums than plan N.

One benefit of a standardized plan, is that it lends itself to being easy to shop for online. Unlike an Advantage plan, you don't need to review dozens of brochures to learn about the differences from one plan to the next. The benefits are the same with Medicare supplement plan N no matter which company you are looking at and you should be able to compare plans online with little trouble.

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Medicare Disability Benefits Are More Comprehensive When You Enroll in a Medicare Advantage Plan

By David Forbes



Medicare benefits are available for people under 65 due to a disability or ESRD (end stage renal disease). If you or someone you know is eligible for Medicare benefits due to a disability, you will have the same benefits as a Medicare beneficiary who is over 65. That is the good news. The bad news is, you may not have as many options for supplemental coverage as the person over 65.

Generally, when you turn 65 and enroll in Medicare, you have three options.

    Enroll in Medicare and pay out-of-pocket for the portion of charges that Medicare does not cover.
    Purchase a Medicare supplement (Medigap policy) during your open enrollment period.
    Enroll in a Medicare Advantage plan that may even include the Part D Medicare drug coverage.

If you are receiving Medicare disability benefits, you can choose the first option and pay the out-of-pocket charges that Medicare does not cover. This will include a hospital deductible, hospital co-pays for extended stays and 20% of the charges for outpatient services. This can be a slippery slope. You are more than likely on a fixed income of SSI and the gaps in Medicare can be unpredictable and potentially financially devastating. Due to the nature of your Medicare eligibility, a qualifying disability, your health care costs may be higher than someone becoming eligible due to turning 65.

The second option, purchasing a Medicare supplement, may not even be available to you. Federal law does not currently require insurance companies to sell you a Medicare supplement if you are younger than 65. Although, some States require companies to do so, it generally means that you will pay a much higher premium than someone who is 65.

A Medicare Advantage plan is available to all beneficiaries, including those receiving Medicare disability benefits. If you have both parts A and B of Medicare, live in the plans service area and do not have ESRD, you are allowed to enroll in a Medicare Advantage plan.

These are the benefits of an Advantage plan for those receiving Medicare disability benefits.
    An Advantage plan offers the certainty of fixed costs, including; co-pays, co-insurance and deductibles. The uncertainty of outpatient costs (20%) are eliminated with co-pays and co-insurance.
    The premium (if required) is usually a fraction of the premium for a Medicare supplement.
   
The Part D Medicare drug plan is often included.

    Advantage plans often include benefits beyond what Medicare includes. Extras can include dental, vision, hearing, gym memberships, discounts on alternative health services and transportation to and from medical appointments.

    A Special Needs Plan may be available for qualifying chronic conditions. These plans include a comprehensive level of managed care related to your health condition.

An Advantage plan can give you a more comprehensive health plan than Medicare alone while costing considerably less than a Medicare supplement. When you compare the choices available to you, it is easy to see that a Medicare Advantage plan has a great deal to offer you if you are receiving Medicare disability benefits.

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