Medicare and Medigap plans provide coverage for the elderly. Medicare Part A and Part B guarantee coverage for a Medicare primary care physician, hospital stays, and certain outpatient services.
While Medicare does not cover all of the costs of in-patient care, it does cover some of those costs. To select the plan that is right for you and your family, it’s important to understand the difference between Medicare Plan A and Medicare Plan N.
Medicare Plan N is the most preferred Medicare supplement because it covers more of the costs of in-patient care than does Medicare Plan A. Medicare Plan N is also more expensive, but it provides a better prescription drug coverage than does Medicare Plan A. It is important, then, to select the Medicare Supplement plan that best suits your prescription drug costs.
Medicare Supplement Plan A requires the individual to select a primary care physician and to choose from a variety of hospitals, specialists, and nursing homes on Medicare. With this type of plan, there is usually a wide range of prices compared to other plans.
As with Medicare Part A and Part B, there is no Medicare Part D. However, Medicare Supplement Plan N does include an annual deductible for the benefits to be paid and there may be special rules and regulations regarding deductibles. Medicare Plan N plans are more costly than Medicare Parts A and B.
Medicare Part A Medicare does not have a Medicare Supplement Plan N. Medicare Parts A and C Medicare do require that certain items be covered under a policy, such as vision care and certain dental care. Medicare Parts A and B require that the covered item is available at a local pharmacy. They do not provide a choice of pharmacies to meet that requirement. Two Medicare Parts provide prescription drug costs coverage. These are Medicare Part A and Part B. It is important to note that Medicare does not cover the cost of short-term prescriptions.
Medicare Supplement Plan N is not available in every state. Before Medicare Part C takes effect in 2021, states must already have approved plans in place. Medicare Part C will make changes to existing Medicare policies and will increase the monthly premiums charged for the coverage. States that do not currently have Medigap Supplement plans can apply to participate in Medicare Part C.
Medicare Part A and Part B both offer prescription drug coverage to individuals with severe disabilities. There is currently a wide variation in the costs of these two programs. Medicare Supplement Plan N is designed to provide extra help for families and individuals with increasing financial needs. Many people are eligible for this particular plan.