Plan F vs. Plan N

Medicare has four main Parts A, B, C & D. Part A & B are know as original Medicare. Part C is known as Medicare Advantage and Part D for prescription drug coverage. There are also 10 Medicare Supplement or Medigap plans available. It is important to know the difference betweens parts and plans.

The differences between Medicare supplement Plans A to N can be fairly tough to compare at first glance. Currently, there are two full-coverage style plans available in Florida. Those are Plan F and Plan N.

Medicare Supplement Plan F gives you the most complete coverage available. Due to the fact that the plan covers costs in excess of Medicare-approved amounts you may have no out-of-pocket costs for hospital and doctor's office care with this plan.

Plan N is a full-coverage style plan just like Plan F, but it is approximately $50 cheaper per month. The only difference is that you have to pay your Part B medical deductible. That is $183 in 2017. Then you have a doctor copay of $20 and a ER copay of $50.

Co-pays and Deductible for Plan N:
-Part B Medical Deductible: $183
-Doctor Visit: $20
-Emergency Room: $50

With Plan N over Plan F you could stand to save $600 per year. Once you minus out paying your Part B deductible your savings is reduced to $417. As long as you do not see more then 20 doctor visits in a given year you will have some savings with Plan N over Plan F.

Some companies even allow great flexibility where you can switch from Plan F to Plan N and vice-versa on a month to month basis with no additional underwriting. With this in mind you can easily figure out if you need Plan N or Plan F based on how often you visit the doctor each month.

The great thing about having a Medicare Supplement is that Medicare is your primary insurer. This means you have no network constraints. You can go to any Hospital and see any doctor as long as a doctor takes Medicare and is taking new patients. Having Medicare as your primary with a supplement as your secondary also means no referrals to see a specialist. This gives you freedom of choice without an insurance company dictating where you can go and who you can receive care from.

If you have questions or are confused about what you will be liable for book a meeting with an agent. The goal is to lower your potential cost as low as possible while still receiving great medical care when you need it and give you peace of mind.

Book your appointment today:

Bill Gay: 386-846-4190
bill@suncoastlegacyadvisors.com

Kaitlyn Stafford: 386-957-7851
kaitlyn@suncoastlegacyadvisors.com