How Do I Choose A Modernized Medicare Supplement (Plan N or Plan M)?
If you are eligible for a Modernized Medicare Supplement plan, you must know what plan you already have.
What Is Part of Plan M or Plan N in The New Medicare Supplement Plans
The first thing that you should keep in mind is that your choice of company will not change your coverage. You have until November 15 to decide to make changes to your Medicare Advantage Plan. If you choose Plan M, you will keep the coverage that you currently have. If you opt for lower premiums, you will have to pay some of your hospital costs. Premiums for Plan M will be lower than premiums for Plan F, but you will have to pay 50% of your Medicare Part A deductible. If you opt for Medicare Plan N, your premiums will be lower than those under Plan M, but you will have to pay $20 each time you visit your doctor. For an emergency room visit, you will have to pay $50. If you are admitted to the hospital, there is no co- pay.
How To Decide Which Modernized Medicare Supplement To Choose
Selecting a modernized medicare supplement can be hard to do especially if you are not sure of what you pay for premiums with your existing Medicare Supplement Plan. To make it easy on yourself, list how many doctor visits you have had in the past two or three months. If you have more than three doctor visits in the past three months, Plan N would not be a good modernized medicare supplement plan to choose since the co-pays would exceed your savings in premiums. Your decision should be based on how much you would save by choosing a higher co-pay plan or staying with the plan you already have.
Related posts
- Is It Time To Change To A Modernized Medicare Supplement Plan?
- Is it Time to Change to a Modernized Medicare Supplement Plan?
- What Happened To Medicare Supplement Plans In June 2010?
- What Is Medicare Supplement Plan M?
- Is Medicare Supplement A Managed Care (HMO) Plan?
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